USA: Mondelez Intenational reports 2013 results
Mondelez International has reported its first annual financial results, with figures for 2013 showing net revenues for the full year of $35.5 billion, up 0.8%. Operating income increased by 9.2% to $4.0 billion, while operating income margin was 11.2%.
Organic net revenues increased 3.9%, driven by strong volume/mix of 3.4 percentage points as well as favourable pricing of 0.5 percentage points. Meanwhile emerging market revenues increased nearly 9%, with BRIC (Brazil, Russia, India and China) markets up nearly 10%.
Mondelez’s “power brands” grew 6.5%, with Oreo, Tuc, Club Social, Belvita and Barni biscuits, Cadbury Dairy Milk and Lacta chocolate and Tassimo coffee each recording double-digit increases.
Irene Rosenfeld, Chairman and CEO commented, "In our first full year as a global snacking company, we delivered solid revenue growth and strong market share performance in the face of a significant slowdown in our categories as 2013 progressed".
"At the same time, we accelerated investments in emerging markets, strengthened our balance sheet and returned $3.6 billion of cash to our shareholders. Nevertheless, we're disappointed that our results were below what we and our shareholders originally expected”.
Source: Food and Drink Business Europe / Mondelez