Japan Tobacco’s Greece Subsidiary Posts $900 Million Revenue in 2024, Plans to Boost Ploom Market Expansion

Jul.18

Japan Tobacco International’s (JTI) Greece operations are projected to generate over €800 million (approximately $900 million) in revenue in 2024, with a net profit of €958,000 (about $1.11 million), marking a growth in market share despite challenging conditions. JTI’s innovation is driving market expansion in Greece, with its Ploom products successfully entering the market.

Key Points:

·Japan Tobacco International's (JTI) Greece branch reported a revenue of 834 million euros (approximately $900 million) in 2024, a 2.5% increase compared to the previous year.

·The company's net profit was 958,000 euros (approximately $1.11 million), with strong cash flow. Despite challenging international economic conditions, JTI saw a 6.3% increase in its pre-tax profit.

·JTI continues to invest in innovation and market expansion to drive high-quality employment opportunities.

【2Firsts News Flash】According to a report by zougla on July 17th, Japan Tobacco International's (JTI) Greece branch reported a total turnover of 834 million euros (approximately $900 million) in 2024, a 2.5% increase from 2023. Despite the challenging international economic conditions, the company achieved a net profit of 958,000 euros (approximately $1.11 million) and maintained strong cash flow, with cash reserves of 29 million euros (approximately $33.72 million).

In 2024, JTI paid €734 million (approximately $900 million) to the Greek government, an increase from the €721 million (approximately $800 million) paid in 2023. The company's net sales increased by 7%, further solidifying its leading position in the domestic market.

The year 2024 is a crucial year for JTI, as the company's combustible products continue to hold a leading position in the Greek market, while its innovative heated tobacco product Ploom has successfully entered the low-risk product market. Greece has become one of the top ten markets for Ploom's global launch, demonstrating the country's important role in JTI's international investment plan.

Janine Neuhaus, the General Manager of JTI's Greece branch, stated: "The financial data for 2024 reflects the strong growth momentum of JTI in Greece. We will continue to maintain our enthusiasm, solidify our leadership position in the combustible tobacco products sector, and continuously expand our market share in the heated tobacco products market.

References:

[1] Σε τροχιά ανάπτυξης η JTI στην Ελλάδα το 2024

Also Read:

[1] Greek government proposes ban on flavored tobacco products, may face resistance

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