Mondelez Revenues Impacted By Currency, Divesture Impacts In FY 2018
Mondelez International has posted a net revenue gain of 0.2% in full year 2018, saying that unfavourable currency and divesture effects impacted its performance.
Organic net revenue at the group was up 2.4%, with a balanced volume/mix and pricing.
Gross profit was up 3% to $318 million, with adjusted operating income up 6% to $257 million on a constant currency basis.
“Our fourth quarter and full-year 2018 results demonstrate the power of our brands, the strength of our global footprint and the potential of our strategic plan,” said Dirk Van de Put, Chairman and CEO.
“We delivered on our key financial and strategic commitments for the year, including solid top-line and bottom-line growth and strong cash flow generation.”
In 2018, Mondelez unveiled a series of new strategic initiatives, including a more balanced investment for marketing across its global and local brands; a more locally-oriented commercial structure; and the rollout of new research and development capabilities, including a new technical centre in India and investment in a modern facility in Poland.
It has also pledged to make all its packaging recyclable by 2025, to deliver the company’s vision for zero-net waste packaging.
“In 2019, we will continue to progress against our new strategy, which includes new investments to drive organic revenue growth and operational excellence across the organisation,” said Van de Put.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.