Imperial Brands and Japan Tobacco gain market share in Italy

Investing.com -- Cigarette and cigar volumes fell 14.3% in the UK and 5.9% in Italy during the four weeks ending in mid-May, according to Nielsen data cited by Bank of America.

In the UK, Imperial Brands saw cigarette and cigar volumes decline 13.8% during the period. The UK accounts for approximately 6% of Imperial's revenue in tobacco and next-generation products. In Italy, Imperial posted volume growth of 22.8%, gaining roughly 150 basis points of market share.

British American Tobacco recorded a 20.3% volume decline in the UK, losing about 50 basis points of market share. In Italy, BAT's volumes fell 7.3%, with the company losing approximately 30 basis points of share. Bank of America estimates that Italy and the UK combined represent roughly 3% of BAT's adjusted earnings before interest and taxes in 2025, including new categories.

Philip Morris International's UK cigarette and cigar volumes dropped 16.1%, resulting in a share loss of around 20 basis points. In Italy, PMI's cigarette volumes declined 8.1%, with a market share loss of approximately 100 basis points. Nielsen data for EU markets does not include heated tobacco products for PMI.

Japan Tobacco's volumes fell 13.9% in the UK during the period. In Italy, JT's volumes decreased 5.5%, while the company gained about 15 basis points of market share.

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