Victory on all fronts for the world's leading tobacco company, whose change in business model is proceeding at full speed. In fact, Philip Morris is becoming less and less of a cigarette manufacturer. Volumes of combustion products sold decreased by 0.4% in the first quarter of 2024 compared to the same period last year, while sales of smoke-free alternatives, mainly IQOS smoking tobacco and ZYN pouches, increased by 20.9% and 35.8%, respectively. These "new generation" products now account for 38% of revenue, an increase of 21% compared to the same period last year. Philip Morris is on track to achieve the goal it set five years ago: to generate half of its revenue from alternative fuels by... [Read more]