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Nestlé three-month sales: 4.4% organic growth, full-year outlook confirmed

Nestlé S.A. / Nestlé three-month sales: 4.4% organic growth, full-year outlook
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This press release is also available inFrench (pdf)andGerman (pdf)

Vevey, 17 April 2015

Nestlé three-month sales:
4.4% organic growth, full-year outlook confirmed

* Sales of CHF 20.9 billion
* 4.4% organic growth, 1.9% real internal growth
* Organic growth in developed markets 2.5%, emerging markets 6.7%
* Full-year outlook confirmed: we aim to achieve organic growth of around 5%
with improvements in margins, underlying earnings per share in constant
currencies and capital efficiency

Paul Bulcke, Nestlé CEO: "Our three-month sales growth was in line with
expectations and driven by both real internal growth and pricing. We
delivered good performances in Zone EMENA, Nestlé Waters and Other
businesses. We continued our efforts to restore momentum in Zone AOA and in
North America, and expect these initiatives to gain traction throughout the
year. Our full-year outlook is confirmed: we aim to achieve organic growth of
around 5% with improvements in margins, underlying earnings per share in
constant currencies and capital efficiency."

Business Review

In the first three months of 2015 organic growth was 4.4%, composed of 1.9%
real internal growth and 2.5% pricing. Sales rose by 0.5% to CHF 20.9
billion, impacted by negative foreign exchange of -4.5%. Acquisitions, net of
divestitures, added 0.6% to sales.

In 2015 we continued to grow in all geographies: 5.6% in the Americas (AMS),
4.5% in Europe, Middle East and North Africa (EMENA) and 2.2% in Asia,
Oceania and sub-Saharan Africa (AOA). The developed markets grew 2.5% and
the emerging markets 6.7%.

Zone AMS

Sales of CHF 5.8 billion, 3.7% organic growth, -0.2% real internal growth

* InNorth America there was a slow start to the year. The frozen meals
category remained challenged, especiallyLean Cuisine . We have taken action
to reposition our brands, addressing all elements of the marketing mix,
enhancing their relevance to consumers. We expect these initiatives to
bring back momentum to the frozen category over the course of the year.
Growth in North America came fromCoffee-mate, from super-premium and snacks
in ice-cream and from baking, driven by innovations in morsels and frozen
cookie dough. Line extensions and new product launches did well for
petcare, includingBeyond ,Purina ONE andTidy Cats litters.
* The worsening macroeconomic environment had an impact acrossLatin America ,
with pricing taken under inflationary pressure in several markets. Brazil,
affected by soft sales in ambient dairy, achieved good growth in
confectionery with strong performances fromKitKat and from biscuits, and in
coffee fromNescafé Dolce Gusto . Cocoa and malt beverages also contributed.
Mexico delivered solid contributions in soluble coffee and confectionery.
Dog Chow ,Pro Plan andCat Chow helped drive double-digit growth for petcare
across the region.


Sales of CHF 3.9 billion, 5.3% organic growth, 3.9% real internal growth

* All parts of the Zone delivered strong growth. Petcare was a driver
withFelix ,Purina ONE andGourmet. Nescafé Dolce Gusto grew well across the
Zone, as did ambient culinary and confectionery, both helped by the early
Easter. Pricing had an impact in Eastern Europe and in Turkey.
* Most markets inWestern Europe did well although Switzerland and Greece had
a slower start to the year.
* InCentral and Eastern Europe we saw good growth in Poland, Russia and
Ukraine despite inflationary pressures.
* There was solid volume growth in theMiddle East and North Africa regions
with strong growth in Turkey driven by soluble coffee, and good
performances across the Middle East, in spite of the challenging
environment in Iraq and Yemen.

Zone AOA

Sales of CHF 3.6 billion, -0.2% organic growth, -2.3% real internal growth

* The Zone had a slow start to the year, mainly due to China, as expected.
Our actions to renovate products, to innovate and to improve communication
and distribution are on track. Also relevant was the slowdown in Nigeria.
* Innovations likeNescafé Blend&Brew andKitKat Rubies in Malaysia,Chun
premium protein drink from Yinlu in China and the continuing roll-out
ofNestlé Milo Activ-Go are laying the foundations for increased growth
momentum in theemerging markets .
* The premium businesses continued to do well overall. Japan grew
dynamically, thanks to the ongoing innovation in products and business
models and continued good growth momentum inKitKat .

Nestlé Waters

Sales of CHF 1.7 billion, 7.3% organic growth, 7.5% real internal growth

* Nestlé Waters continued to deliver solid, broad-based organic and real
internal growth in all three geographies. There was double-digit growth in
the emerging markets and mid-single-digit growth in the developed markets.
* There was further growth acceleration forNestlé Pure Life . The premium
international brandsPerrier andS.Pellegrino continued their good growth
momentum in North America, Europe and the rest of the world. Among the
local brands,Erikli in Turkey,Al Manhal in Saudi Arabia,Buxton in the
United Kingdom andYunnan Shan Quan in China grew strongly.

Nestlé Nutrition

Sales of CHF 2.6 billion, 4.3% organic growth, 1.3% real internal growth

* Nestlé Nutrition had a relatively slow start mainly impacted by tough
comparisons, in particular in the more volatile markets in the Middle East,
Africa and Russia. There were good performances in Asia and Mexico. Wyeth
Infant Nutrition continued to deliver solid growth in infant formula and
growing-up milks, driven by the premium brandsIIluma and S-26 , and by
geographic expansion. Infant cereals did well in the United States, South
East Asia and India. Pouches were a highlight for meals and drinks.

Other businesses

Sales of CHF 3.3 billion, 8.1% organic growth, 5.9% real internal growth

* Nestlé Professional had a good start to the year with growth balanced
across the food and the beverage businesses. The growth was driven by
emerging markets in Asia and Latin America, and Eastern Europe contributed.

* Nespresso continued to grow well in a competitive market, leveraging its
constant innovation and renovation in machines, in services and its range
of super-premium coffees. It also continued to expand internationally.
* Nestlé Health Science delivered solid sales growth with its three business
areas; consumer care, medical nutrition and novel therapeutic nutrition,
all contributing. Europe and China performed well. The key growth-drivers
were theVitaflo product range,Alfamino in the paediatric allergy
range,Boost in North America andMeritene in Europe.
* Nestlé Skin Health continued to grow solidly with all businesses
contributing and strong performances in the Americas and Asia. Growth in
the prescription products business was helped by the launch ofSoolantra , a
topical treatment for rosacea. The North American rights to commercialise
key aesthetic dermatology products, acquired last year, contributed to the
strong growth momentum.


We confirm our full-year outlook: we remain focused on our business long
term, strengthening the foundations of future growth and we aim to achieve
organic growth of around 5% with improvements in margins, underlying earnings
per share in constant currencies and capital efficiency.


Media: Robin Tickle Tel.: +41 21 924 22 00
Investors: Steffen Kindler Tel.: +41 21 924 3509


Three-month sales overview 2015

| Jan.-Mar. 2015 Jan.-Mar. 2014 Jan.-Mar. 2015 Jan.-Mar. 2015 |
| |
| Sales Sales Organic Growth Real Internal Growth (%) |
| in CHF millions in CHF millions (%) |
| (*) |
| |
| By Operating Segment |
| · Zone AMS 5'844 5'888 +3.7 -0.2 |
| · Zone EMENA(a) 3'910 4'227 +5.3 +3.9 |
| · Zone AOA 3'574 3'571 -0.2 -2.3 |
| Nestlé Waters 1'697 1'603 +7.3 +7.5 |
| Nestlé Nutrition 2'631 2'613 +4.3 +1.3 |
| Other businesses(b) 3'262 2'920 +8.1 +5.9 |
| Total Group 20'918 20'822 +4.4 +1.9 |
| By Product |
| Powdered and liquid beverages 4'584 4'771 +4.8 +1.9 |
| Water 1'589 1'499 +7.4 +7.4 |
| Milk products and ice cream 3'321 3'379 -1.3 -3.1 |
| Nutrition and Health Science(b) 3'544 3'145 +7.7 +4.6 |
| Prepared dishes and cooking aids 3'037 3'122 +2.2 +1.0 |
| Confectionery 2'087 2'204 +7.5 +1.4 |
| Petcare 2'756 2'702 +5.0 +3.6 |
| Total Group 20'918 20'822 +4.4 +1.9 |
(*) 2014 figures have been restated on the following main transfers, effective
as from 1 January 2015:

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