Mondelēz Reports 2.1% Revenue Increase For Third Quarter
Published on Oct 31 2017 5:36 PM
Mondelēz International has recorded revenues of $6,530 million (approximately €5,611 million) in the third quarter of 2017, representing growth of 2.1% compared with the same period in 2016.
The company reports that its 'power brands', which include Oreo, Cadbury and Milka, saw a 5.6% increase in sales during the quarter.
It also reports revenue growth in key regions, such as Latin America (+4.6%), Europe (+4.7%), and North America (+1.3%). However, revenue in Asia, Middle East & Africa declined by 2.6%.
Irene Rosenfeld, Mondelēz chairman and CEO commented on the results, "We're pleased with our improving revenue growth, driven by the strength of our power brands, continued momentum in emerging markets and Europe.
"We posted another quarter of strong expansion in operating income margin and earnings. We're making good progress on many of our key strategic initiatives and remain confident in our ability to deliver long-term, sustainable growth on both the top and bottom lines."
Mondelēz now says that it anticipates organic net revenue for the 2017 financial year to be around 1%, noting that this has been affected by a 'larger than expected impact' from the cyberattack that hit the company in June.
The company also expects adjusted operating income margin to be in the mid-16% range, and double-digit adjusted earnings per share growth on a constant-currency basis.
This quarter will also see a number of senior management changes at Mondelēz. Last week, the company announced that Glen Walter will join the company in November as executive vice president and president for North America.
Meanwhile, Dirk Van de Put, former president and CEO of McCain Foods, is will succeed Irene Rosenfeld as the company's chief executive next month.
© 2017 - Checkout Magazine by Jenny Whelan