Philip Morris International & Tobacco Companies

Ragazzi qualcuno sa cosa accadrà alle mie 20 azioni Rai dopo che questa è stata comprata dalla British amenrican tobacco? grazie
 
Grazie Leite.....io non ja posso fa. Che banca mi ha chiesto se mando loro una mail dove ho trovato la notizia che non ne sanno nulla.
A me cadono le braccia e pure altro
 
dall'ultima conference call di BAT anche loro dal '18 passano al dividendo trimestrale con special dividend a inizio anno (e anche il glo, equivalente dell'iqos di PM, sta andando molto bene in Giappone, dove però non ci sono mai state le sigarette elettroniche):
British American Tobacco's (BTI) CEO Nicandro Durante on Q2 2017 Results - Earnings Call Transcript | Seeking Alpha

We remain committed to rewarding shareholders with an increasing dividend and continue to see 65% as a sustainable long-term payout ratio. From 2018, BAT will pay 4 equal quarterly dividends. And as part of transition, an additional interim dividend will be paid in February 2018. This will be 25% of the total cash dividends paid in 2017 amounting to 43.6p.
 
Big Tobacco’s Next Big Thing? Tobacco - WSJ

Big Tobacco is working on its next act, as cigarette sales decline around the world and once-breakneck growth from the first wave of e-cigarettes fades. Three of the world’s biggest tobacco firms are rolling out new, electronic tobacco-heating devices they say are healthier alternatives to traditional smoking, but feel more like puffing on a real cigarette. That is a sensation many smokers complain is missing from the wide array of electronic cigarettes currently on the market. None of the new heat-not-burn devices—which heat real tobacco instead of the nicotine concoction typical in most e-cigarettes—are available yet in the U.S., but that may be changing soon. Last month, the Food and Drug Administration indicated it would take a friendlier approach to cigarette alternatives as a mechanism to help smokers shift to safer options. “In just the last few years, we’ve seen the advent and adoption of new product categories that may be able to deliver nicotine without having to burn tobacco,” said FDA Commissioner Scott Gottlieb.
Philip Morris International Ltd. is seeking FDA approval for a heat-not-burn device called IQOS. Through a partnership with Philip Morris, Altria Group Inc. —once part of the same company—hopes to sell IQOS under the Marlboro brand in the U.S., one of the industry’s most profitable markets. It also hopes to market the product as safer than cigarettes—a health claim that must be approved by the FDA.
British American Tobacco PLC plans to apply next year for FDA approval to sell its tobacco-heating device, Glo. Some early success overseas is raising hope among investors and analysts that the “heat-not-burn” category could give Philip Morris, BAT and others a fresh lease on life. For years, cigarette makers have been able to raise prices to make up for falling volumes. But executives know that can’t last forever, and big tobacco firms have been scrambling to come up with alternatives. For Philip Morris, the stakes are high. Unlike rivals BAT and Japan Tobacco Inc., 2914 -0.91% which have rolled out an array of cigarette alternatives, Philip Morris has directed most of its efforts at IQOS, opening dedicated stores in cities like London and Tokyo to sell the device. Makers of heat-not-burn devices claim such products are healthier than cigarettes, but to a lesser extent than e-cigarettes. The e-cigarettes currently on the market typically heat a liquid to create a nicotine-laced, inhalable vapor. Tobacco firms have rolled out their own versions, including “cigalike” products that look like old-fashioned cigarettes. So have hundreds of smaller competitors, many of which have concentrated on bigger, refillable vaporizers. These devices have spread quickly, but once-torrid sales growth has cooled recently. In 2014, U.S. e-cigarette sales grew 130% year-over-year, according to Euromonitor International, a market-research firm. Last year, growth was 21%.
The slowdown is partly the natural consequence of a maturing market. But safety worries and regulatory hurdles, particularly in the U.S., have also curbed sales. Another big impediment: customer satisfaction. Some users complain they aren’t getting their blast of nicotine fast enough, or miss a real cigarette’s “throat hit”—industry speak for what smokers say is the feeling of smoke traveling down the throat.
Philip Morris, BAT and Japan Tobacco are hoping they have solved the problem by going back to the tobacco leaf. Their devices heat—instead of burn—the ground leaf to deliver a nicotine vapor they say is safer than cigarettes. It also tastes and feels more like a real cigarette, these makers claim. “The taste satisfaction is very important,” said Philip Morris Chief Executive Andre Calantzopoulos. “The closer you are to this, the more chances you have to switch people.” BAT’s Glo and Philip Morris’s IQOS include a heating device for disposable, tobacco-packed “sticks” that look and feel like ordinary cigarettes. Japan Tobacco’s Ploom Tech takes a more hybrid approach, using tobacco capsules through which vapor generated from liquid in a cartridge passes. BAT’s iFuse, another hybrid device, heats a nicotine-containing liquid into an inhalable vapor, which then passes through a tobacco section. BAT’s U.S. business, Reynolds American, has for years sold Eclipse, but the product hasn’t gained traction and has very limited distribution.
Philip Morris is ahead of the pack. The company sells IQOS in over 25 countries. In Japan—where e-cigarette sales are heavily restricted—IQOS has lured enough smokers since launching nationwide last summer to account for about 10% of the overall cigarette market, according to the company. “They absolutely have a first-mover advantage,” said Euromonitor analyst Shane MacGuill. The new product is also expected to bolster the bottom line. Piper Jaffray analyst Michael Lavery estimates IQOS profit margins currently run about 30% to 50% higher than regular cigarettes. He says IQOS could contribute 15% of Philip Morris’s profit by 2019. Shareholders have taken notice. Philip Morris’s stock has outperformed rival BAT, largely because of the success of IQOS. Euromonitor expects the heat-not-burn sector to bring in $15.4 billion by 2021, and constitute 45% of the tobacco-alternatives market, up from 17% last year. E-cigarettes are expected to shrink from 83% of the current tobacco-alternative market to 55%. But sales of cigarette alternatives still pale in comparison to cigarettes. Euromonitor expects tobacco heated products and e-cigarettes to make up just 3% and 4% of total cigarette market—excluding China—by 2021. A question mark still hangs over whether the products will get the green light in the U.S., while some are skeptical about their safety. A May study by Swiss researchers found that IQOS released some of the same cancer-causing chemicals found in traditional cigarettes. The authors have called for more independent research to evaluate IQOS’s health effects. In response, Philip Morris in June wrote a letter to top officials at the three Swiss institutions questioning the researchers’ methodology. “We think heated tobacco products have huge potential in the future,” said Ian Jones, Japan Tobacco’s vice president of reduced risk products. “But there’s still some huge unknown questions that need to be looked at.”

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premesso il Giappone è un caso tutto sui generis (perchè non ha avuto le sigarette elettroniche, è stato con l'Italia il primo Paese di introduzione dell'iqos, i giapponesi sono malati di oggetti tecnologici,ecc) come volumi dell'iqos siamo quasi a livello delle sigarette :eek:

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premesso il Giappone è un caso tutto sui generis (perchè non ha avuto le sigarette elettroniche, è stato con l'Italia il primo Paese di introduzione dell'iqos, i giapponesi sono malati di oggetti tecnologici,ecc) come volumi dell'iqos siamo quasi a livello delle sigarette :eek:

Vedi l'allegato 2479005

Molto interessante e il titolo scende...
 
è andata molto bene anche l'introduzione in corea (in 3 trimestri già al 5,5% della market share totale) in europa invece molto più difficile che in asia:

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Anche BAT è nel radar ..ora garantisce un bel 3.2% netto spalmato su 4 trimestri.
Non male.
 
Anche BAT è nel radar ..ora garantisce un bel 3.2% netto spalmato su 4 trimestri.

anche loro quest'anno passano al dividendo trimestrale all'americana che rende i calcoli più semplici (ma sull'adr c'è una micro commissione):
http://www.bat.com/group/sites/uk__9d9kcy.nsf/vwPagesWebLive/DO72TJQU/$FILE/medMDAW7PB8.pdf?openelement

DIVIDENDS
On 26 April 2017, the Group announced its move to quarterly dividends with effect from 1 January 2018.
Further to that announcement, the Board has declared an interim dividend of 195.2p per ordinary share
of 25p, payable in four equal quarterly instalments of 48.8p per ordinary share in May 2018, August 2018,
November 2018 and February 2019. This represents an increase of 15.2% on 2016 (2016: 169.4p per
share), and a payout ratio, on 2017 adjusted diluted earnings per share, of 69%.
As part of the transition to quarterly dividend payments, the Group committed that shareholders would
receive the equivalent amount of total cash payment in 2018 as they would have under the previous
payment policy. Based upon 65% of 2017 earnings, under the previous calculation methodology, shareholders would have expected to receive a final dividend of 128.4p in May 2018 and an interim dividend of 61.6p in September 2018, being equivalent to one third of the dividend in respect of 2017, with a total dividend expected to be received in 2018 of 190.0p. A second interim dividend of 43.6p (equivalent to 25% of the cash dividend paid in 2017) was announced on 5 December 2017 and was paid on 8 February 2018. This second interim dividend and the three quarterly dividend amounts payable in the calendar year 2018 (May, August and November), ensure that shareholders receive the equivalent cash amount during the year as they would have under the previous payment policy.
The quarterly dividends will be paid to shareholders registered on either the UK main register or the
South Africa branch register and to holders of American Depositary Shares (ADSs), each on the applicable
record dates set out under the heading ‘Key Dates’ below.

General dividend information
Under IFRS, the dividend is recognised in the year that it is declared or, if required, approved by
shareholders. Therefore, the 2017 accounts reflect the 2016 final dividend (approved in April 2017); the
2017 interim dividend (declared in July 2017) and the 2017 second interim dividend (declared in December
2017), which, in total amount to 218.2p (£4,465 million (2016: 155.9p - £2,910 million)).

Holders of ADSs
For holders of ADSs listed on the New York Stock Exchange (NYSE), the record dates and payment dates are
set out below. The equivalent quarterly dividends receivable by holders of ADSs in US dollars will be
calculated based on the exchange rate on the applicable payment date. A fee of US$0.005 per ADS will be
charged by Citibank, N.A. in its capacity as depositary bank for the BAT American Depositary Receipt (“ADR”)
programme in respect of each quarterly dividend payment.
 
dalla call sul glo (l'equivalente di iqos) in giappone e corea, dove PM ha già il 13,9% e 5,5%:
British American Tobacco's (BTI) CEO Nicandro Durante on Q4 2017 Results - Earnings Call Transcript | Seeking Alpha

Glo is already demonstrating this in Japan. Just 12 months after the national rollout, glo already has 4.1% market share in January, despite continued capacity constraints limiting the device to one per store per week. Together with our suppliers we are building device manufacturing capacity rapidly and anticipated ahead unrealized capacity of 25 million units by the end of the year.
We expect device capacity to become unconstraint during Q2. Our analyzed consumer capacities are already 15 billion sticks and we are able to increase these to 52 billion sticks by the end of the year. In December, we launched four new narrow-stick variants, which had quickly grown to represent 40% of glo’s sales. Glo now has a widest range of products in the market, with the strong pipeline of innovation, including capsule variant and glo mini following later this year.
During 2017, glo was also launched in South Korea, Canada, Russia, Switzerland and most recently, Romania. In South Korea, following its launch in Seoul in August, glo was roll out nationally. Glo continues to grow national share and now reached 0.4%. Selling still has its low impact, but [Technical Difficulty] on marketing model to reinforce our market presence.

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Il tabacco, ahimè, lo dico e ripeto, a lungo termine è morto.
Impossibile mandare avanti un business che viene attaccato su tutti i fronti ed in tutti i modi possibili ed immaginabili, ci manca solo il proibizionismo.
I governi con aumenti di prezzo assurdi (in Francia costeranno a breve 10€) aumenti delle tasse, campagne pubblicitarie contrarie, colpevolizzazione del fumatore, divieti di fumare ovunque e mutilazione del prodotto come i tagli di nicotina che vuole proporre la FDA.
I big del tabacco stanno facendo un lavoro eccellente nel cercare di reinventare un prodotto vecchio di centinaia di anni e che ha sempre tirato, ma ormai il danno è stato troppo grande e temo sia ai limiti dell'impossibile invertire il trend.
Se uno non è fumatore non inizia certo perchè vede il gadget, se uno lo è - numero sempre più in diminuzione - ora ha un sacco di alternative a basso costo e poco regolamentate/regolamentabili come le e-cig, i liquidi e via dicendo.
I grandi ritorni del passato quando il fumo era "cool" sono andati per sempre temo.
 
Indietro