Mondelēz International has reported a 9.7% rise in full-year net revenue to $31.5 billion but saw its operating income decrease by $370 million in Q4.
Organic net revenue growth of 12.3% and incremental sales from the company’s acquisitions of Chipita, Clif Bar and Ricolino, partially offset by unfavourable currency, drove the increase.
The company’s emerging markets business recorded a 20.3% rise in net revenue in 2022, compared with the 3.9% sales growth recorded by Mondelēz’s developed markets.
Mondelēz’s Europe region delivered the weakest net revenue growth with a 2.4% increase in sales. The Asia, Middle East & Africa region followed with a 4.7% increase.
Meanwhile, sales in Latin America grew 29.7%, outperforming the company’s other regional segments, while Mondelēz’s North America business saw 16.6% growth.
Mondelēz CEO Dirk van de Put said: “Our 2022 results demonstrate the strength and diversification of our portfolio as we delivered broad-based growth in terms of regions, categories and brands. We delivered strong gross profit dollar growth, driven by double-digit top-line growth supported by both pricing and volume, enabling robust cash flow generation and significant return of capital to shareholders.”
He continued: “These results were underscored by continued strength in emerging and developed markets as well as solid contributions from our recently acquired businesses. We made significant progress against our strategy of accelerating growth and focusing our portfolio in the attractive, resilient categories of chocolate, biscuits and baked snacks while continuing to invest in our brands and capabilities.
“We also continued to deliver strong marketplace execution amid challenging operating conditions and continued macroeconomic volatility.”
© FoodBev Media Ltd 2022
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