(Finance) – Nestlea Swiss food giant, has closed i first nine months of 2023 with a organic growth of 7.8% (lower than analysts’ expectations for +8.1%), with prices of 8.4% and real internal growth (RIG) of -0.6%. The total sales they fell by 0.4% to 68.8 billion francs, with the exchange rate decreasing sales by 7.4%. Net acquisitions had a negative impact of 0.8%.
“Our diversified portfolio and differentiated offerings helped us deliver strong organic growth in the first nine months of the year – commented the CEO Mark Schneider – Growth was driven by prices as we continued to navigate historic inflation levels. The recovery of our volume and mix is underway. We are seeing the benefits of our portfolio optimization initiatives and growing marketing investments behind our billion-dollar brands.”
“These steps strengthen our confidence that the real domestic growth, the sum of volume and mix, will turn positive in the second half of the year and will again become the main driver of growth in the future,” he added.
Outlook for the full year 2023 confirmed: organic sales growth between 7% and 8% and underlying trading operating profit margin between 17.0% and 17.5%; furthermore, it expects underlying earnings per share in constant currency to increase between 6% and 10%.