The first Tobacco Transformation Index™ found that a small group of tobacco companies made public commitments to harm reduction, but none had shifted their focus enough to ensure the accelerated decline of cigarettes and other high-risk products*.
In a blog article published in September 2021, covering half-year results, we found that reduced-risk products* still formed a limited, albeit growing, share of total revenue for some of the leading tobacco manufacturers.
Six months later, based on full year 2021 results, some of those companies continue to make progress. Others have stalled in their efforts toward harm reduction. Swedish Match remains the only company whose share of non-combustibles represents more than half of its total sales. In 2021, 66.8% of Swedish Match revenue came from non-combustibles (compared to 65.2% in 2020).
Table 1: Company Financial Results, Revenues FY 2021 Vs. FY 2020
David Janazzo – Foundation for a Smoke-Free World – 2022-04-13