Press release
Mondelēz International Reports Q2 2023 Results
Second Quarter Highlights Net revenues increased +17.0% driven by Organic Net Revenue1 growth of +15.8% with strong Volume/Mix performance in 3 of 4
About this update from Mondelez International, Inc.
[{"type":"text","content":"Second Quarter Highlights Net revenues increased +17.0% driven by Organic Net Revenue1 growth of +15.8% with strong Volume/Mix performance in 3 of 4 regionsDiluted EPS was $0.69, up 27.8%; Adjusted EPS1 was $0.76, up +21.5% on a constant currency basisYear-to-date cash provided by operating activities was $2.0 billion; Free Cash Flow1 was $1.5 billionReturn of capital to shareholders was $1.7 billion in the first half of the yearAnnouncing +10% increase to quarterly dividendRaising both Organic Net Revenue and Adjusted EPS growth outlook to 12%+ CHICAGO, July 27, 2023 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (Nasdaq: MDLZ) today reported its second quarter 2023 results. “I am pleased with our second quarter results, which demonstrate broad-based strength across our business, with strong, profitable top-line growth in all regions and categories. Continuous reinvestment in our brands and capabilities, combined with ongoing price execution, cost discipline and strong volume/mix performance drove these results,” said Dirk Van de Put, Chairman and Chief Executive Officer. “We continue to drive robust consumer demand in our core categories across the vast majority of our businesses, and our teams continue to make significant progress against our portfolio reshaping initiatives as we remain focused on accelerating strong, sustainable growth. Our strong first-half performance and category resilience provides confidence to raise both our net revenue and earnings outlooks for the year.” Net Revenue $ in millionsReportedNet Revenues Organic Net Revenue Growth Q2 2023 % Chgvs PY Q2 2023 Vol/Mix PricingQuarter 2 Latin America$1,228 40.2% 37.7% 2.6pp 35.1ppAsia, Middle East & Africa 1,609 4.8 13.2 3.3pp 9.9 Europe 2,926 11.4 13.1 (4.5)pp 17.6 North America 2,744 22.7 12.4 2.0pp 10.4 Mondelēz International$8,507 17.0% 15.8% -pp 15.8ppEmerging Markets$3,306 17.8% 23.3% 2.1pp 21.2ppDeveloped Markets$5,201 16.4% 11.2% (1.2)pp 12.4pp June Year-to-DateYTD 2023 YTD 2023 Latin America$2,439 43.3% 38.4% 5.0pp 33.4ppAsia, Middle East & Africa 3,548 4.3 13.5 4.6pp 8.9 Europe 6,233 12.1 16.2 (1.5)pp 17.7 North America 5,453 24.7 14.8% 2.1pp 12.7 Mondelēz International$17,673 17.5% 17.7% 1.7pp 16.0ppEmerging Markets$6,904 19.7% 24.3% 3.4pp 20.9ppDeveloped Markets$10,769 16.2% 13.6% 0.7pp 12.9pp Operating Income and Diluted EPS $ in millions, excep...