Japan Tobacco International (JTI), JT’s international tobacco business operations, continued to grow market share in most key markets despite a difficult economic environment.
Stronger pricing as well as volume gains in Europe drove net sales excluding tax to increase by 7.2 percent at constant rates of exchange. On a reported basis, net sales excluding tax declined by 7.3 percent.
Total sales volume declined by 2.5 percent to 434.9 billion cigarettes, and GFB sales volume declined by 0.9 percent to 243.4 billion cigarettes.
Sales volume decreased 2.5 percent to 434.9 billion cigarettes. The underlying business momentum remained strong in the context of total market contractions, down-trading and excise tax increases in a number of markets. JTI’s market share increased year-on-year in all key markets except Taiwan, including Italy, Spain, France, the United Kingdom, Russia, and Turkey. In Taiwan, where JTI leads the market, the company took aggressive pricing action in June following a tax increase, with a short-term negative impact on market share.
GFB sales volume decreased by 0.9 percent to 243.4 billion cigarettes.
Total sales volume for Winston decreased by 4.1 percent. Strong growth in Italy, France and Turkey was offset by declines in Iran due to the continuing unstable operating environment, in the Philippines where the business model changed, in Ukraine with excise-led market contraction, and Russia with down-trading coupled with market contraction.
Camel sales volume decreased by 1.8 percent. Growth in Italy and Ukraine was offset by volume decline in Russia due to market contraction, and decline in the Philippines and Spain.
Mild Seven’s sales volume decreased 3.0 percent as growth in Korea was offset by a decline in Taiwan after a price increase following a tax rise.
Total sales volume for LD grew by 18.2 percent, reflecting its Mid/Value positioning, with solid performances in Russia, Poland, Ukraine and Turkey.
Glamour’s sales volume increased 7.9 percent with strong growth in Russia.