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PepsiCo posts solid growth in snacks and beverages
PepsiCo Inc has reported growth in volume, net revenue, operating profit and earnings per share for the fourth quarter and the full-year 2011.
The results reflect top-line gains across its worldwide snacks and beverage businesses, the acquisition of Wimm-Bill-Dann, gains from sales of certain businesses and the favourable impact of an extra reporting week offset by high commodity costs.
“In 2011, we delivered solid top– and bottom-line growth,” said PepsiCo chairman and CEO Indra Nooyi. “We continued to stimulate strong consumer demand for our products, and our successful pricing and productivity programmes partially offset the impacts of inflation. Importantly, in a year characterised by a challenging macroeconomic environment and political turbulence, we took advantage of gains from strategic adjustments to our portfolio to reinvest in key capabilities and markets.
“At the same time, we improved our long-term competitiveness in key emerging and developing markets through:
- our acquisition of Wimm-Bill-Dann, which further strengthened our position in Russia,
- pursuing new franchise models for our beverage operations in Mexico and China as we look to create more-advantaged businesses in these important markets, and
- our acquisition of Mabel which extended our macrosnack position in Brazil.
“PepsiCo has great brands and strong brand-building capabilities, innovative products and tremendous global reach, advantages we will continue to build upon. These strengths, coupled with strategic initiatives we separately announced today, will improve our ability to drive growth and generate shareholder value in the years ahead.”
Highlights
- Worldwide snacks volume grew 8% in the quarter and the full year
- Worldwide beverage volume grew 3% in the quarter and 5% for the full year
- Reported net revenue increased 11% in the quarter to $20.2 billion. Full-year reported net revenue increased 15% to $66.5 billion
- Reported net income increased 4% in the quarter and 2% for the full-year; core net income increased 8% in the quarter and 5% for the full-year
- Reported EPS increased 5% to $0.89 in the quarter and 3% to $4.03 for the full-year. Core EPS grew 9% to $1.15 in the quarter and full-year core EPS grew 7% to $4.40.
Source: PepsiCo Inc
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