The tobacco industry used to be one of America’s most profitable, but you know how the story goes
— scientific research and litigation slowly chipped away at the smoking facade.
Add to that excise taxes and restrictions, and now under 20% of Americans are smokers.
But big tobacco companies like Marlboro-maker Philip Morris International (PMI) have footholds in emerging markets, which are still highly lucrative areas for the cigarette business. Asia in particular has been a growing market (and Europe still has plenty of smokers too).
We pulled 10 key slides from the company’s latest quarterly earnings presentation that capture the state of the international smoking markets.