PM · 10-Q · 2026Q2 · Full report

Geographic Revenue Concentration

Philip Morris International Inc. · 2026-07-24 · Importance 50 · Surprise 24

Russia represented approximately 6% of Philip Morris International’s total net revenues in 2025, exceeding the company’s materiality threshold. Russia also accounted for around 9% of total cigarette and heated tobacco unit shipment volume in 2025, creating meaningful exposure to market disruption or divestiture. Ukraine contributed around 1% of total net revenues and 2% of total cigarette and heated tobacco unit shipment volume in 2025, while potential impairment or deconsolidation of Russian assets could materially affect financial position and results.