Nestle S.A (NSRGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Nestlé's three-month 2025 sales conference call. I am David Hancock, Head of Investor Relations. Today I'm joined by Laurent Frex, CEO, and Anna Manns, CFO. Laurent and Anna will provide a short update on our progress in the first quarter before we open up for Q&A. Before we get started, please take a moment to read the disclaimer on page two. With that, I will hand over to Laurent. Thank you, David, and good morning, everyone. Before Anna takes you through the financials, let me share some highlights on our progress in the first quarter. Despite a challenging consumer environment, we delivered resilient and broad-based organic growth of 2.8% in the first quarter. I would like to thank our team for their efforts as we navigate the first full year under our new strategy. Over the last year, we have seen unprecedented cost inflation in coffee and cocoa. We have been proactive on pricing and our team navigated the negotiations with customers well with limited disruptions. My priority is to accelerate our growth. There is no growth without investment. So generating the resources to invest is critical. That is why we launched the Fuel for Growth Savings Programme. We are making good progress and we are on track to deliver 700 million Swiss francs incremental cost savings in 2025 on top of over 1.2 billion of savings from ongoing efficiency initiatives. Alignment and focus of the teams is critical to delivering performance. Following the rapid actions on the organization we took last year, we are further simplifying to support effective execution. This includes steps to harmonize our structure in zone Europe and enhance our capabilities in R&D. We are driving these savings and improving organizational alignment to support growth, both accelerati...