Mondelēz International records strong quarter performance amid turbulent markets
pic by Mike Mitchell
Mondelēz International has recorded net third quarter growth of 4.9%, to $6.7 billion for the period, forecasting an improved performance for its full-year 2020 results, despite ongoing pandemic conditions, reports Neill Barston
Chairman and chairman Dirk Van de Put said the business was encouraged by results, which he described as part of its policy of “supporting long-term sustainable growth” for the business in its global operations.
The company, which is behind major brands including the UK’s Cadbury, Milka, Toblerone, as well as Oreo in the US, recorded gross profits of $2.8 billion for the third quarter, underlining its resilience in spite of broader trading uncertainties surrounding the coronavirus pandemic.
Within its latest figure, the business had a notably strong performance in Latin America for the third quarter, with net revenues of $610 million for the period (up 17%), figures up 6% in Europe (with net revenues of $2.5 billion) and North America presenting an improved picture up nearly 13% with revenues of $2.1 billion.
Last month, the company delivered a major move in unveiling its first ever global diversity and inclusion officer, Robert Perkins. He is set to be at the forefront of driving efforts to ensure an inclusive workforce across the world, which includes plans to double black representation in its US management team by 2024 as part of key structural improvements within the business.
Chief Executive Officer and CEO Dirk Van de Put welcomed the latest results. He said: “Our third quarter performance was strong across all key metrics, with broad-based revenue growth as demand remained elevated in Developed Markets and sequentially improved in Emerging Markets. Our teams are executing well and we continue to deliver share gains by meeting the needs of customers and consumers, despite the uncertainties caused by COVID-19. Our strategy remains unchanged and we are accelerating certain initiatives and increasing the investment behind our brands to further support long-term sustainable growth.”