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PHILIP MORRIS INTERNATIONAL INC Reports Operating Results (10-K)

February 24, 2012 | About:
Barel Karsan

10qk

18 followers
PHILIP MORRIS INTERNATIONAL INC (PM) filed Annual Report for the period ended 2011-12-31.

Philip Morris has a market cap of $141.98 billion; its shares were traded at around $82.45 with a P/E ratio of 16.8 and P/S ratio of 1.9. The dividend yield of Philip Morris stocks is 3.8%.

Highlight of Business Operations:

Our total cigarette shipments increased 1.7% in 2011 to 915.3 billion units. We estimate that international cigarette market shipments were approximately 5.7 trillion units in 2011, a 1.1% increase over 2010. We estimate that our reported share of the international cigarette market (which is defined as worldwide cigarette volume excluding the United States) was approximately 16.0% in each of 2011 and 2010 and 15.4% in 2009. Including the 2010 business combination with FTC on a pro-forma basis, our total share of the international cigarette market was 16.2% and 16.5% in 2010 and 2009, respectively.

Excluding the Peoples Republic of China (PRC), we estimate that our reported share of the international cigarette market was approximately 28.1%, 27.5%, and 25.8% in 2011, 2010 and 2009, respectively. Including the 2010 business combination with FTC on a pro-forma basis, our total share of the international cigarette market, excluding the PRC, was 27.8% and 27.7% in 2010 and 2009, respectively.

Shipments of our principal cigarette brand, Marlboro, increased 0.9% in 2011, and represented approximately 9.2% of the international cigarette market, excluding the PRC, in 2011, 9.1% in 2010 and 9.0% in 2009.

We have a cigarette market share of at least 15%, and, in a number of instances substantially more than 15%, in 97 markets, including Algeria, Argentina, Australia, Austria, Belgium, Canada, Colombia, the Czech Republic, Egypt, Finland, France, Germany, Greece, Hungary, Indonesia, Italy, Japan, Kazakhstan, Korea, Mexico, the Netherlands, the Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Serbia, Singapore, Spain, Sweden, Switzerland, Thailand, Turkey and Ukraine.

At December 31, 2011, PMIs third-party guarantees were $7 million, of which $2 million expire through December 31, 2012, and the remainder through 2015. PMI is required to perform under these guarantees in the event that a third party fails to make contractual payments. PMI does not have a liability on its consolidated balance sheet at December 31, 2011, as the fair value of these guarantees is insignificant due to the fact that the probability of future payments under these guarantees is remote.

Read the The complete Report

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