Nestle S.A (NSRGF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.892 -- 00:00:06.499 Good morning and welcome to Nestlé's three-month 2025 sales conference call. 00:00:06.499 -- 00:00:09.523 I am David Hancock, Head of Investor Relations. 00:00:09.523 -- 00:00:15.230 Today I'm joined by Laurent Frex, CEO, and Anna Manns, CFO. 00:00:15.230 -- 00:00:19.696 Laurent and Anna will provide a short update on our progress in the first quarter before 00:00:19.696 -- 00:00:22.357 we open up for Q&A. 00:00:22.520 -- 00:00:28.285 Before we get started, please take a moment to read the disclaimer on page two. 00:00:29.090 -- 00:00:31.933 With that, I will hand over to Laurent. 00:00:31.933 -- 00:00:35.417 Thank you, David, and good morning, everyone. 00:00:35.417 -- 00:00:40.243 Before Anna takes you through the financials, let me share some highlights on our progress 00:00:40.243 -- 00:00:42.185 in the first quarter. 00:00:42.185 -- 00:00:47.371 Despite a challenging consumer environment, we delivered resilient and broad-based 00:00:47.371 -- 00:00:51.375 organic growth of 2.8% in the first quarter. 00:00:51.375 -- 00:00:56.561 I would like to thank our team for their efforts as we navigate the first full year 00:00:56.561 -- 00:00:59.397 under our new strategy. 00:00:59.397 -- 00:01:04.504 Over the last year, we have seen unprecedented cost inflation in coffee and cocoa. 00:01:04.504 -- 00:01:09.610 We have been proactive on pricing and our team navigated the negotiations with customers 00:01:09.610 -- 00:01:13.713 well with limited disruptions. 00:01:13.836 -- 00:01:19.223 My priority is to accelerate our growth. There is no growth without investment. 00:01:19.223 -- 00:01:23.769 So generating the resources to invest is critical. 00:01:23.769 -- 00:01:27.123 That is why we launched the Fuel for Growth Savings Programme. 00:0...