Philip Morris International Inc at Consumer Analyst Group of New York (CAGNY) Conference Transcript
Okay, let's please take our seats. We'll get started in just a moment. Alright. A few people will start trickling in from the breakout session, but good morning. I want to thank Philip Morris for joining us today. It's a pleasure to welcome them back to the CAGNY conference.
This morning, we are fortunate to have the CEO, Jacek Olczak, with us today as well as CFO, Emmanuel Babeau. Fundamentally, Philip Morris has turned out to be a terrific story. PMI continues to execute on one of the most successful smoke-free transformations in global staples today, with over 40% of its revenues and gross profit mix now derived from smoke-free products.
The transformation is translating into sustained volume growth on a multiyear basis, margin expansion and accelerating free cash flow generation for the company. With leverage now declining, a clear framework is in place for durable double-digit EPS growth over the next several years with accelerating shareholder returns. Philip Morris is now entering the next phase of its investment thesis.
With that, I will welcome Jacek
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