Imperial Brands (IMB) dbAccess Global Consumer Conference summary

Achievements and strategic progress

• Strengthened core business, gaining share in top five markets and investing in brand equity and sales capabilities.

• Built a competitive NGP portfolio across all three categories, gaining share and innovating rapidly.

• Significant investments in technology, processes, and management talent have improved operational effectiveness.

• Revitalized challenger culture, increasing employee engagement and pride.

• Leadership transition planned as an orderly evolution, with continuity in strategy and team.

Market performance and outlook

• U.S. market strengthened by investments in brand equity and sales force, with share gains and broad price point coverage.

• Germany turned around after years of underinvestment, now showing share growth after regulatory and operational improvements.

• U.K. managed excise-driven inflation well, focusing on value extraction and price increases.

• Spain prioritized value over share, adjusting pricing strategy to monetize gains and maintain flexibility.

• Australia remains valuable despite regulatory challenges and high illicit trade, with focus on value extraction.

Innovation and NGP development

• Accelerated innovation in vaping, heated tobacco, and modern oral nicotine, with consumer-centric product launches.

• Pulse 3.0 heated tobacco device targets consumers seeking simplicity and value.

• Zone modern oral nicotine leverages insights from U.S. and European markets to address unmet needs.

• NGP business has reduced losses, aiming for profitability through scale and balanced growth.