Nestle S.A (NSRGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Nestlé's three-month 2026 sales update. I'm David Hancock, Head of Investor Relations, and I'm joined today by Philip Navratil, CEO, and Anna Manns, CFO. Before we get started, please take a moment to review the disclaimer on slide two. Let me quickly take you through our short agenda. We'll start with an overview of the key messages from Philip before Anna reviews the three-month sales in more detail. We will then open up the lines for Q&A. With that, I'll hand over to Philip. Thank you, David. Good morning, and thank you for joining us today. We have started the year well. Our performance demonstrates that our rig-led growth strategy is delivering in a complex and uncertain environment. Before turning to the details, I would like to thank our people around the world for their continued dedication and focus, as well as our customers and consumers for their trust. Let me start with the key messages for the quarter. Growth momentum continued with organic growth of 3.5% and RIG of 1.2%. Our performance is broad-based. RIG was positive across all zones and categories except infant formula within nutrition, which was impacted by the recall. By category, coffee was the star, with recovering volumes and positive mix. Emerging markets also continued to stand out, driven again by RIC. The infant formula recall impacted performance in the quarter as expected. We acted quickly, product availability is back to normal, and we're seeing new parents coming to our brands as they enter the category. So Q1 was a quarter of focused execution and good momentum. At the same time, it is clear that geopolitical and macroeconomic uncertainties have increased. Taking these together, we're maintaining our full year 2026 guidance. Here is a reminder of our strategi...