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Nestlé sees its net profit jump by 20% in 2023

2024-02-22T07:02:01.036Z

Highlights: Nestlé sees its net profit jump by 20% in 2023. The Swiss food giant nevertheless recorded a decline in its sales volume. Negative currency effects reduced its turnover by 7.8%. For the past year, Nestlé plans to pay a dividend of 3.00 Swiss francs per share, an increase of 5 cents compared to the previous year, the company said.. The group is targeting organic growth of around 4% for the current year, it said in a press release.


The Swiss food giant nevertheless recorded a decline in its sales volume.


Nestlé recorded a net profit up 20.9% in 2023, to 11.2 billion Swiss francs (11.7 billion euros), at the end of a year in which it increased its prices by 7.5 % to compensate for rising costs.

The Swiss food giant, owner among others of Nespresso coffee pods, Maggi broths and Smarties confectionery, saw its turnover decrease by 1.5% to 93 billion Swiss francs, against a backdrop of a slight decline in volumes. in sales, he announced Thursday in a press release.

Negative currency effects reduced its turnover by 7.8%.

Its organic growth, which measures its sales excluding exchange rate effects and acquisitions or disposals, amounted to 7.2% while real internal growth, which gives an indication of volumes, contracted by 0.3%. .

These figures are slightly below the forecasts of analysts surveyed by the Swiss agency AWP who expected on average organic growth of 7.3% for a turnover of 93.3 billion francs and a net profit of 12 .1 billion francs.

Also read: The competitiveness of the food industry in free fall

Inflation and pressure

“The unprecedented inflation of the past two years has increased pressure on many consumers and affected demand for food and beverage products

,” Nestlé CEO Mark Schneider was quoted as saying in the press release.

“Looking ahead to 2024, we are prioritizing volume-driven growth

,” he added.

For the current year, the group is targeting organic growth of around 4%.

For the past year, Nestlé plans to pay a dividend of 3.00 Swiss francs per share, an increase of 5 cents compared to the previous year.

Source: lefigaro

All business articles on 2024-02-22

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