Mondelēz International’s latest results show continued growth trajectory
Mondelez at this year's Sweets & Snacks Expo. Pic: Neill Barston
Mondelēz International has released its latest quarterly results that have shown a 17% net revenue increase to $8.5 billion, with the company continuing its strategy of acquiring new brands, adding to its global portfolio, reports Neill Barston.
There were notably positive sales results in Latin America (up 40% year-on-year) for the quarter, as well as a 22% upturn for North America, and 11% rise in Europe, which has led the business to increase its financial outlook by ten percentage points for the remainder of the year.
Notably, year-to-date figures were also up by a similar level to the quarterly rate, increasing 17.5%, to $17.6 billion, marked by a period of strategic growth for the business, in the wake of acquisition the form of Clif Bar and Ricolino companies.
Underlining its development, Confectionery Production met with the business at this year’s Sweets & Snacks Expo, including our exclusive video report on the event in May, which demonstrated that its portfolio of brands has continued to prove its buoyancy. The company is set to be represented at our World Confectionery Conference on 5 October, with Barbara Blohberger, of the company, who also serves as Vice president of Caobisco European confectionery organisation.
Dirk Van de Put, Chairman and Chief Executive Officer, welcomed the company’s continued resilience. He said: “I am pleased with our second quarter results, which demonstrate broad-based strength across our business, with strong, profitable top-line growth in all regions and categories. Continuous reinvestment in our brands and capabilities, combined with ongoing price execution, cost discipline and strong volume/mix performance drove these results,”
“We continue to drive robust consumer demand in our core categories across the vast majority of our businesses, and our teams continue to make significant progress against our portfolio reshaping initiatives as we remain focused on accelerating strong, sustainable growth. Our strong first-half performance and category resilience provides confidence to raise both our net revenue and earnings outlooks for the year.”
As a result of its improved position, the business said it is updating its 2023 fiscal outlook and now expects 12+ percent Organic Net Revenue growth versus the prior outlook of 10+ percent, which it said reflects the strength of its year-to-date performance.