Financial Performance & Guidance - The company is targeting another year of best-in-class top and bottom-line growth, driven by volumes, pricing, mix, and efficiencies while investing for growth[3] - The company confirms full-year adjusted diluted EPS guidance of $7.36 to $7.49, representing 12% to 14% growth in USD[3] - Excluding currency impacts, the adjusted diluted EPS growth is expected to be 10.5% to 12.5%[3] - Reported diluted EPS forecast for 2025 is $7.01 to $7.14, compared to $4.52 in 2024[6] - Adjusted diluted EPS for 2025 is projected to be $7.36 to $7.49, compared to $6.57 in 2024, a growth of 12% to 14%[6] Business Strategy & Outlook - The company is increasingly deploying a multi-category strategy across markets with premium smoke-free alternatives like IQOS, ZYN, and VEEV[3] - The company continues to expect low single-digit combustible volume declines for 2025[3] - The company is well-positioned to navigate external volatility and is on track for strong H1 and FY performance[3] Risk Factors - The company's business is subject to various risks, including excise tax increases, marketing and regulatory restrictions, health concerns, litigation, and intense competition[2] - Global and individual country economic, regulatory, and political developments, natural disasters, and conflicts, including the impact of Russia's invasion of Ukraine, also pose risks[2] - Unfavorable currency exchange rates, adverse changes in corporate tax laws, trade tariffs, and the cost and availability of raw materials are additional risk factors[2]