PMI publishes EU economic study as Cyprus affiliate outlines investment priorities

Nicosia, Cyprus. Philip Morris International Inc. (PMI), listed on the NYSE under PM, has released its second EU Economic Footprint Study, produced by EY-Parthenon and covering 2021–2025. Philip Morris Cyprus said the findings highlighted the importance of investment, innovation and conditions that enable businesses to expand.

Study examines contribution across the EU

According to PMI, the report assesses both its economic contribution throughout the European Union and the capabilities it has built while transforming its business. The company said its impact extended beyond its operations to suppliers, manufacturing businesses, researchers, retail businesses, agricultural producers, workers and communities across Europe.

PMI presented the publication as coming at a pivotal point for European competitiveness. It said the findings showed how continuing investment, innovation and its industrial presence supported competitiveness and generated lasting benefits for European economies and communities.

European business and smoke-free products

Marco Hannapel, President, Europe Region, Philip Morris International, said Europe was undergoing substantial change that offered opportunities to reconsider its direction and adapt. He described the study as new evidence of PMI’s continuing EU contribution, adding that the billions in economic value reflected the work of farmers, manufacturers, scientists, entrepreneurs, retailers and employees who supported Europe’s economic foundations.

Hannapel said the results also reflected changes within PMI. Products classified as smoke-free accounted for over half of its European net revenue during 2025’s fourth quarter, he said, arguing that the company’s smoke-free ambitions were already becoming a reality in Europe.

He said converting existing strengths into durable competitiveness required a pragmatic approach, constructive dialogue between industry and policymakers, and regulation that gave businesses confidence to invest, develop innovations and expand. Hannapel added that PMI had chosen to contribute solutions to the development of what he called New Europe and to help build a lasting future.

Cyprus investment priorities

Christos Tsagkalidis, General Manager of Philip Morris Cyprus, said the report went beyond measuring one company’s economic impact. In his view, it illustrated how businesses could support competitiveness through continued investment, innovation and enduring commitments.

He said Cyprus’s position as an open European economy with an international orientation made an investment-friendly environment essential for sustainable growth. Such conditions should encourage innovation and give businesses confidence to expand and generate value, he added.

Tsagkalidis said Philip Morris Cyprus shared that objective and remained committed to continuing its transformation while contributing actively and responsibly to the long-term development of the country’s economy and society.

Company profile and anniversary

Philip Morris Cyprus is affiliated with PMI, which describes itself as among the leading tobacco and nicotine businesses worldwide. According to the company, PMI sells products in more than 180 countries and employs over 83,000 people globally.

PMI said it was seeking to transform the tobacco industry by replacing cigarettes with smoke-free alternatives for adults who would otherwise keep smoking, as part of its ambition for a future without smoke.

Philip Morris Cyprus said its fifth anniversary falls in 2026. It described its development as grounded in progress, investment in employees, innovation and contributions to Cyprus’s economy and society. The company said its ambition for a smoke-free Cyprus reflected a deliberate commitment to change based on innovation and responsibility.