Mondelēz International reported its first quarter 2024 results. Its net revenues increased by 1.4%.

Dirk Van de Put, Chair and Chief Executive Officer, commented on the performance results: “We posted solid top-line results coupled with robust earnings and free cash flow generation in the first quarter driven by strong pricing execution, effective cost management and emerging market momentum. Despite facing a challenging and dynamic operating environment, our teams remained focused and agile in executing against our long-term growth strategy. We continue to reinvest in our brands, drive distribution gains and capture synergies from recently acquired assets to drive sustainable long-term growth.”

Net revenues increased 1.4% driven by organic net revenue growth of 4.2% and incremental net revenue from a short-term distributor agreement related to the sale of the developed market gum business.

For 2024, the company expects Organic Net Revenue growth of 3 to 5% and a Free Cash Flow of USD 3.5+ billion. This outlook takes into consideration the context of greater-than-usual volatility as a result of geopolitical uncertainty.

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