(AOF) – On the occasion of its investor day, Philip Morris revealed its growth objectives for the period 2024-2026. The tobacco products specialist is targeting an increase of 6-8% in its net turnover, including an increase in the total volume of deliveries. The group expects an increase of 8-10% in its adjusted operating profit and an increase of 9-11% in its adjusted diluted earnings per share. Philip Morris also expects that more than two-thirds of its total net revenue will come from smoke-free products in 2030.
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Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSE-SMEs, according to Ania (National Association of Food Industries. Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases However, they are not renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercéales, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity shock absorber”, which are considered insufficient. The organizations also deplore the failure of European negotiations to achieve a price shield to avoid distortions of competition. Agriculture and agri-food demand a maximum ceiling price of €180/MWh while many companies buy at prices above €500/MWh on the French market.