Philip Morris International Inc. (PM) Management Presents at 2022 Goldman Sachs Global Staples Forum Conference (Transcript)

Philip Morris International Inc. (NYSE:PM) 2022 Goldman Sachs Global Staples Forum Conference May 17, 2022 9:35 AM ET

Company Participants

Emmanuel Babeau - Chief Financial Officer

Conference Call Participants

Bonnie Herzog - Goldman Sachs

Bonnie Herzog

All right. Good morning, everyone. Thanks so much for joining us today. So, it's a pleasure to introduce the next speaker of our conference this year, Emmanuel Babeau, the CFO of Philip Morris International.

It's been an exciting time for Philip Morris as the Company continues to make great strides and progress on a smoke-free transformation, which is over 30% of its revenues now coming from reduced-risk products. Despite a challenging geopolitic environment, IQOS continues to gain traction globally, fueled by the enormous compounding effect of new user acquisition strong innovation and a powerful digital marketing model that continues to set Philip Morris apart from the pack.

Now with that, there's a lot to discuss this morning. So I'm going to turn it over to Emmanuel for some opening remarks. I think you have a slide, Emmanuel, and then we're going to go right into our fireside chat. And I just want to make one quick comment to our firm's involvement with Swedish Match transaction. I'm not going to be asking any questions about that.

So thank you, Emmanuel.

Emmanuel Babeau

Thank you, Bonnie. Thank you for welcoming us and good morning, everyone. Great to be here back in New York. It has been two years since the last time I came, so super pleased and excited to be with you.

Just a few preliminary comments after the usual forward-looking and cautionary statement that, please, you should read carefully.

We all know that this Q1 has been, of course, exceptional by the terrible events that are happening in Ukraine. And of course, we've been impacted by that. Of course, Bonnie, if