Japan Tobacco Inc. announced positive results in 2023 despite the international challenges. The company is expected to move on an upward trajectory in 2024, with a focus on new products.
More specifically, the group’s revenue increased by 6.9% to 2,841.10 billion Japanese yen (17.4 million euros), while adjusted operating profits at constant exchange rates show an increase of 5.2% to 765.7 billion Japanese yen (4.7 million euros).
Operating profit rose 2.9% to 672.4 billion Japanese yen (4.1 million euros).
As part of the announcement of the group’s financial results, JapanTobacco International, which owns the Winston and Camel brands, announced that it increased the sale of the total volume of conventional cigarettes by 2.3% in 2023.
JTI manufactured and sold more than 531 billion cigarettes in international markets in 2023, significantly increasing volumes in this category.
A further 6.2% boost in revenue to 3,016 billion Japanese yen is expected in 2024, while adjusted operating profit at constant exchange rates is expected to stabilize this year at 728 billion Japanese yen.
The JT Group is making investments in the heated tobacco product category, which constitutes a focus of its business plan for the 2024-2026 period, enhancing funding to expand its brand in terms of both category share and geographic footprint.
In practice, the group’s central goal is to have Ploom X available in more than 40 markets by the end of 2026.
Already the group has expanded the geographical reach of the product, making it available to adult consumers in 13 markets at the end of 2023, including Greece where it was launched in October 2023.
