(1 1723 CZK, 1,37%) CR’s parent company (PMI) will release its FY12 results today. It should also comment on its performance in CR. We expect the total cigarette market in CR was down by 3.0% to 20.47 bl.n units in 2012, mainly reflecting the impact of excise tax-driven price increases. PMI’s shipments in CR should be down by roughly 8% last year. Furthermore, we expect market share of the company in CR fell by 2.0 points to 42.2% in 2012, principally reflecting continued share declines for lower-margin local brands.