Nestlé records improved growth figures despite disrupted global markets
Nestlé has released its first quarter figures that reveal 4.3% growth for the period, up to CHF 20.8 billion for the group, despite facing considerable challenges posed by the global coronavirus pandemic.
From this latest figures, CHF 1.6 billion in sales was recorded within the confectionery sector for the first three months of the year, and a further CHF 2.6 billion for the milk product and ice-cream market segments.
The company, which recently formed a joint project with the International Red Cross to assist tackling the outbreak of the virus, conceded that the crisis is having an “extraordinary and far-reaching impact on all our lives.”
As the business reported, it has been working closely with local authorities and business partners to respond to the challenge. It said that its priorities were to safeguard the health and wellbeing of its employees, ensuring business continuity and supporting communities all over the world with local relief efforts.
In addition, the company acknowledged that many of its business partners are facing similar challenges, adding that it would put measure in place to offer appropriate support during the unfolding health and economic crisis.
Mark Schneider, Nestlé CEO, commented: “The COVID-19 crisis continues to impact all our lives in powerful and sometimes tragic ways. Our thoughts are with all those who have been affected and we extend our deepest sympathies to those who have lost loved ones.
Nestlé has a special responsibility at this time. Our food and beverage products help keep people healthy, provide comfort and support recovery.
Our people, in particular our frontline workers, have shown extraordinary commitment in keeping our business running and meeting consumer needs. We will continue to work hard to provide food and beverages to people across the world, every day.
” Our company remained resilient in the first quarter, reflecting our diversified product portfolio and our strong local presence in 187 countries. However, this crisis is far from over and we will face many uncertainties in the coming quarters. We will continue to adapt quickly to changing consumer needs and to challenges in our global supply chains. As a reliable employer and business partner we are meeting our commitments. As a good citizen and trusted neighbor, we continue to offer our help, in particular to the most vulnerable in society. Over the last 154 years, Nestlé has successfully overcome many challenges. We are confident that – together with all those who are fighting against the pandemic and its consequences – we will also overcome this one.”