This excerpt taken from the MO 8-K filed Jan 30, 2008.
2007 Full-Year and Fourth-Quarter Results
In Latin America, operating companies income decreased 48.4% to $520 million in 2007, due mainly to the impact of the 2006 Dominican Republic transaction, partially offset by higher pricing in 2007. Operating companies income increased 14.5% for the full-year 2007 when adjusted for the impact of the items shown in the table below.
In the fourth quarter of 2007, operating companies income decreased 69.5% to $187 million, due mainly to the impact of the 2006 Dominican Republic transaction in the year-earlier period, partially offset by higher pricing. Operating companies income increased 55.8% for the fourth quarter of 2007 when adjusted for the impact of the items shown in the table below.
Full-year 2007 cigarette shipment volume of 89.9 billion units was up 0.8%, as higher volume in Argentina more than offset declines in Mexico and the Dominican Republic. Fourth quarter 2007 cigarette shipment volume of 25.1 billion units was up 6.4%, driven by gains in Argentina, Brazil, Colombia and acquisition volume in Mexico. Excluding local brands acquired in Mexico, full-year 2007 volume was down 0.3%, while fourth-quarter 2007 volume was up 2.5%.
In Argentina, the total cigarette market grew 3.0% for the full-year 2007. PMIs market share increased 2.6 points to a record 68.9%, driven by Marlboro and the Philip Morris brand. PMI shipments grew 7.1% and profits advanced more than 40%.
In Mexico, the total market declined 6.3% for the full-year 2007, due to lower consumption following the price increases in January and October 2007, as well as an unfavorable comparison with the prior year, which included trade purchases in advance of the January 2007 tax-driven price increase. PMIs market share gain of 0.8 points to a record 64.3% was fueled by Benson & Hedges and Delicados. Marlboros share at 47.7% was flat versus the prior year.
This excerpt taken from the MO 8-K filed Oct 17, 2007.
2007 Third-Quarter Results
In Latin America, operating companies income increased 7.5% to $143 million, due mainly to higher pricing. Cigarette shipment volume of 21.3 billion units was down 1.5%, as declines in Brazil and Colombia were partially offset by growth in Argentina.
In Argentina, the total cigarette market grew 1.7%. PMIs volume grew 5.0% and market share increased 2.2 points to a record 69.7%. Both Marlboro and the Philip Morris brand gained share.
In Brazil, the total market was down 0.9% and PMIs market share declined 0.2 points to 12.0%. However, Marlboro share grew 0.2 points to 5.9%. PMI shipments were down 2.8%.
In Colombia, PMI shipment volume declined 17.6%, due primarily to distributor inventory distortions. However, PMI expects volume to recover in the fourth quarter of 2007.
In Mexico, the total market declined 1.7%, due to lower consumption following the January 2007 tax-driven price increase. PMI market share reached a new record of 65.5%, up 1.6 points on the continued strength of Marlboro and Benson & Hedges.