Third quarter 2023 marked a successful period for Mondelēz International, as the provider revealed in its recent financial results. Despite economic pressures, the company came out ahead, hitting $9.02 billion in net revenues, a 16.3 percent increase from the same period last year.
“We delivered strong third quarter results that reinforce the durability of our categories, strength of our brands and geographies, and consistency of our execution. All regions delivered strong revenue growth with double-digit profitability growth, underpinned by strong volume/mix performance,” said Dirk Van de Put, Chairman and Chief Executive Officer. “We believe the best remains ahead as we strengthen and reshape our portfolio, substantially reinvest in our iconic brands, and continue developing best-in-class capabilities in key enablers such as digital and revenue growth management to further drive high-quality, sustainable growth for years to come. Our strong year-to-date performance and category attractiveness provide confidence to again raise both our net revenue and earnings outlook for the year.”
The increase in net revenues was driven by Organic Net Revenue growth of 15.7 percent and incremental sales from the company’s 2022 acquisitions of Ricolino and Clif Bar, partially offset by unfavorable currency, a release explained. Other highlights from the report include:
Based on these results, in 2023, the company is updating its 2023 fiscal outlook. It now expects 14–15 percent Organic Net Revenue growth versus the prior outlook of 12-plus percent, reflecting its year-to-date performance’s strength.
To read the report in its entirety, click here.
Check back with Deli Market News to see how Mondelēz International performs throughout the rest of fiscal 2023.