Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Home
Company
Product
Regulation
China
Data
Exhibition
Interview
中文版
Search

IMB 2024 Financial Report: Profit Up 4.5%, NGP Revenue Jumps 26%

Nov.19.2024
IMB 2024 Financial Report: Profit Up 4.5%, NGP Revenue Jumps 26%
Imperial Brands released its full-year 2024 financial results, reporting a 0.2% year-on-year decline in total revenue to £32.411 billion, while adjusted operating profit increased by 4.5% year-on-year to £3.887 billion.

On November 19, Imperial Brands (IMB) announced its full-year financial results for the period ending September 30, 2024. The company reported a slight decline in total revenue, which fell by 0.2% year-on-year to £32.411 billion.

 

Despite the dip in revenue, adjusted operating profit rose by 4.5% to £3.887 billion. Adjusted net revenue for the "Tobacco and Next Generation Products (NGP)" segment increased by 4.6%, reaching £8.157 billion.

 

Key highlights of the report:

 

  • Tobacco and NGP net revenue increased by 4.6%.
  • Market share gains were reported in four out of IMB’s five priority markets, with an overall increase of 0.05%.
  • NGP's net revenue grew by 26%, with all three regions achieving growth and improved margins.
  • Logista's growth reflected strong tobacco pricing and benefits from last year’s acquisitions.
  • Adjusted earnings per share (EPS) rose by 10.9%, driven by profit growth and a reduced share count, while reported EPS increased by 19.1%.
  • Strong cash generation, with free cash flow reaching £2.4 billion.
  • IMB plans to return approximately £2.8 billion to shareholders in FY25, including a £1.25 billion share buyback and a 4.5% increase in the FY24 dividend.

 

IMB 2024 Financial Report: Profit Up 4.5%, NGP Revenue Jumps 26%
IMB Full-Year Report to September 30, 2024｜ Source: IMB official website

 

The report highlights that overall market share in IMB’s five priority markets increased by 5 basis points (bps). Growth was recorded in the U.S., Germany, Spain, and Australia, while the U.K. saw a decline.

 

In Europe, strong growth in tobacco and Next Generation Product (NGP) net revenue was noted, with a stable market share in Germany. In the Americas, the successful launch of the modern oral nicotine brand "Zone" drove a 29.4% increase in NGP net revenue. In Africa, Asia, and the Middle East, effective tobacco pricing strategies contributed to further market share expansion.

 

Notably, NGP's net revenue grew by 26.4%, with all three categories—heated tobacco, vaping, and modern oral —experiencing growth.

 

Stefan Bomhard, CEO of IMB, said:


"As we enter the final year of our current strategy, the investment we have made in consumer capabilities, cultural transformation and agile ways of working has supported another year of accelerated financial delivery and growing capital returns. "

 

"In tobacco, investment in our brands and sales force initiatives have delivered aggregate market share gains across our five priority markets, while delivering strong pricing. This was supported by an encouraging stabilisation in German market share for the first time under our strategy"

 

"In next generation products (NGP), we continue to build scale across our footprint with net revenues up 26.4% at constant currency driven by growth from all three regions and market share growth in all three categories. Our partnership approach to product innovation has enabled us to launch new products across all three categories during the year. This included our successful entry to the fast-growing modern oral category in the US with our brand ‘Zone’."

 

References:
[1] Full Year Results Statement
Also Read:
[1] Imperial Brands Reports Growth in First Half Financial Results
#Europe#United Kingdom#Market#Tobacco

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

China Tobacco Regulation Shift：Policy Updates and Market Impact
China Tobacco Regulation Shift：Policy Updates and Market Impact
Russia's State Duma Passes Tobacco and Nicotine Ingredient Disclosure Bill, Targeting 2027 End to Trade-Secret Protection for Certain Harmful Ingredient Data
Russia's State Duma Passes Tobacco and Nicotine Ingredient Disclosure Bill, Targeting 2027 End to Trade-Secret Protection for Certain Harmful Ingredient Data
Russia's State Duma passed a government-sponsored amendment on November 11, 2026, by 414 votes to none, seeking to prevent businesses from classifying information on the presence and number of types of certain harmful ingredients in tobacco and nicotine-containing products as trade secrets. The measure covers ingredients capable of increasing nicotine dependence or exhibiting toxic, carcinogenic, mutagenic or reproductive toxicity, including substances that acquire such properties during heating or smoldering. Bill No. 1286415-8 would amend Article 5 of Federal Law No. 98-FZ on Commercial Secrets and is scheduled to take effect on January 1, 2027. The bill has cleared all three readings in the State Duma but has not completed the remaining legislative procedures.
Regulations
Nov.12 by 2Firsts Perspectives
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
Philip Morris Malaysia Managing Director Naeem Shahab Khan met Perlis Mufti Mohd Asri Zainul Abidin on September 17 and presented the company's shift from conventional cigarettes toward alternative products. The mufti said a product could be considered halal if it is clean, its side effects are not harmful or can be controlled, and it does not involve excessive waste. His remarks did not mention IQOS or any other specific PMI product and did not amount to a new product-specific religious ruling. It was at least the second publicly reported engagement between Philip Morris Malaysia and a Malaysian religious institution over cigarette alternatives within six months.
Regulations
Sep.18 by 2Firsts Perspectives
Smoke-Free Business Hits 42% of Q2 Net Revenue as PMI’s First TNFD Report Covers Single-Use Electronics, Critical Raw Materials and IQOS Repairs
Smoke-Free Business Hits 42% of Q2 Net Revenue as PMI’s First TNFD Report Covers Single-Use Electronics, Critical Raw Materials and IQOS Repairs
Philip Morris International has published its first report aligned with the Taskforce on Nature-related Financial Disclosures, bringing its electronics supply chain and the use and end-of-life stages of smoke-free devices and consumables into its nature-related assessment. PMI said its smoke-free business accounted for about 42% of total net revenues in the second quarter of 2026. The report says non-circular electronic products, particularly single-use items, can increase consumption of limited natural resources and also details an IQOS repair pilot. A 2040 circularity scenario tests assumptions including a 50% reduction in product waste-related costs, 10% raw-material savings and a 25% substitution rate for refurbished products versus new products.
Sep.23
FDA Appoints Former Tobacco Enforcement Deputy Jessica Zeller as Director as Agency Weighs PMTA Framework Changes
FDA Appoints Former Tobacco Enforcement Deputy Jessica Zeller as Director as Agency Weighs PMTA Framework Changes
The U.S. Food and Drug Administration (FDA) has named Jessica Zeller director of the Center for Tobacco Products' (CTP) Office of Compliance and Enforcement (OCE), effective November 1, 2026. Zeller, the office's inaugural deputy director, returns from medical device manufacturer Edwards Lifesciences with more than 20 years of regulatory and legal experience. The appointment follows CTP leadership changes and adjustments to tobacco regulation. Bret Koplow became permanent CTP director in September; the FDA revised enforcement priorities for unauthorized e-cigarettes and nicotine pouches in May and announced faster PMTA review procedures. On September 28, the agency said it would evaluate changes to the existing PMTA regulatory framework, including potential rulemaking to replace it.
FDA
Oct.20 by 2Firsts Perspectives
Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Japan Tobacco Inc. (JT) confirmed on November 9, 2026, that all seven of its Russian entities had been placed under temporary administration after a second presidential decree added three companies to the four designated a day earlier. The additional entities are associated with importing, management, holdings and the former supply of Ploom heated-tobacco devices. JT disclosed approximately ¥1.5 trillion in Russian business-related assets as of September 30, including ¥360 billion in cash and deposits, and approximately ¥200 billion in liabilities. Under its revised FY2026 forecast, Russia accounts for about 25% of adjusted operating profit. JT said operations in Russia were continuing, while the financial impact remained under assessment.
company
Nov.09
Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
Nicotine analogues such as 6-methylnicotine are already appearing in e-cigarettes and oral pouches, even as key human evidence remains limited. A new Nixodine-S study adds nonclinical data showing differences from nicotine in cytotoxicity and receptor activity, while independent studies point to a more complex toxicological picture. With supply-chain activity growing and FDA seeking clearer authority over nicotine analogues, the industry now faces a larger question: what evidence is needed before these substances can credibly replace nicotine?
SCIENCE
Sep.23
Related Topics
HEADLINE News Company
Related Read
Russia's State Duma Passes Tobacco and Nicotine Ingredient Disclosure Bill, Targeting 2027 End to Trade-Secret Protection for Certain Harmful Ingredient Data
Russia's State Duma Passes Tobacco and Nicotine Ingredient Disclosure Bill, Targeting 2027 End to Trade-Secret Protection for Certain Harmful Ingredient Data
2Firsts Perspectives
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
2Firsts Perspectives
Smoke-Free Business Hits 42% of Q2 Net Revenue as PMI’s First TNFD Report Covers Single-Use Electronics, Critical Raw Materials and IQOS Repairs
Smoke-Free Business Hits 42% of Q2 Net Revenue as PMI’s First TNFD Report Covers Single-Use Electronics, Critical Raw Materials and IQOS Repairs
FDA Appoints Former Tobacco Enforcement Deputy Jessica Zeller as Director as Agency Weighs PMTA Framework Changes
FDA Appoints Former Tobacco Enforcement Deputy Jessica Zeller as Director as Agency Weighs PMTA Framework Changes
2Firsts Perspectives
Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Russia Expands Temporary Administration of JTI Assets in Second Round: From Four to All Seven Russian Entities, With Approximately $9.5 Billion in Related Assets
Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
Special Report | Can Nicotine Be Replaced? 6-MN Is Already on the Market While Key Human Evidence Is Still Missing
FOLLOW US ON SOCIAL MEDIA
Contact: info@2firsts.com
Stay up to date.
Submit your email to receive weekly newsletter on the most relevant news of the e-cigarette industry.
© 2026 2FIRSTS. All Right Reserved.
2FIRSTS is only accessible to industry practitioners, researchers, media and other professionals. Access by minors is prohibited.
This website provides services to users outside the Chinese mainland.
English
English
中文