and James, everyone. you, welcome, Thank
Our business second the delivered XXXX. another outstanding quarter of performance in
supply our recovery sales another growth with in strong plus pricing, continued and adjusted of flavor over XXXX. is its driving the volumes robust scale trajectory, of IQOS line in operating above Europe with were volume impressive continued fundamentals progress by expanding expectations. on shipments QX and recent quarter despite record growth excellent momentum This profit and the ban.
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more a on holistic view Taking the business.
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for organic We expansion total smoke-free margin both continue adjusted gross and OI in products and to target combustible both and PMI, adjusted margin all for dollar expansion terms.
of forecast and factoring diluted rates. also plus the prevailing currency cost, net adjusted forecast including EPS $X.XX of financing a to to our is for versus already primarily XX%. growth the guidance increased impact to a Consequently for $X.XX This range year The to impact described. lower $X.XX, due we into currency-neutral translates XX% unfavorable currency an QX headwind at prior raising plus are
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Focusing detail. on second in the half more
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impact acceleration U.S. units quarter with in target currency XX billion reflects forecast appendix. a and and significant tailwind by enable of shipment a is to For an include of QX, of adjusted QX which of another $X.XX billion, in of record of growth. growth an dollar in impact HX contrast quarter us EPS overall, $X.XX at spending currency prevailing unfavorable despite $X.XX a forecast $X.XX we commercial for currency in adjusted accelerated table high forecast HTU diluted adjusted This step-up rates. IMS to estimated diluted XX This quarterly to a HTU growth. EPS the We notably dynamic
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expansion. $X.X an to to billion we in further ratio $X.X ZYN X.Xx around continue as capacity increase in accelerate by to we improvement X.Xx this growth Last, EBITDA target to offset cash a more billion profit and expect net strong to capital driven in generation. debt improvement flow our expenditure to adjusted We than XXXX,
As at XX, around as subject progress good trailing the of We XX-month basis to already of reconsider board intend within end we have our this we goal. of repurchase, improved towards by ratio Xx XXXX. of Xx the compared approval, end represents to target on of share of June a a X.Xx This sight XXXX. once are to
now conclude remarks. will with generate best-in-class own to The closing some today's business across I metrics. presentation enable powerful and momentum us growth combination steps key of underlying our strong proactive
IQOS XXXX, efficiencies. us cost and positive Our volumes, and half flow first strategy with ongoing our for is transformation underlying firmly reflected smoke-free accelerated of and puts success currency dollar headwinds. robust delivering growth cash exceptional on mix step-up excellent in This remarkable performance track pricing, pricing, is very earnings category ZYN despite our top line and on an growth, with expansion. margin The
of XXXX-XXXX multicategory the shown to momentum opportunity broadening exciting currency targets. are headwinds. across the performance highly we as on We our with focused in HX, Our delivery in delivering mitigate And dollar. business to is growth growth support further taking measures remain
steadfastly to shareholders. our Finally, to cash returning we are committed
and flow policy. progressive outlook our very rapidly and to priorities our dividend behind happy are questions. allocation alongside you, Thank underpins your answer business growth generation now our to cash Our reinvest strong capital we transforming
