Mondelēz International reported its Q1, 2023 results, with an increase of 18.1% revenue increase driven by Organic Net Revenue growth of 19.4%, and incremental sales from the company’s 2022 acquisitions of Clif Bar and Ricolino. Gross profit increased by USD 463 million.
“These results were driven by ongoing pricing execution to offset cost inflation and solid volume growth,” said Dirk Van de Put, Chairman and Chief Executive Officer. “We saw broad-based demand across both developed and emerging markets, as consumers around the world continue to prioritize our chocolate, biscuits, and baked snacks categories and brands. We also continued to make significant progress against our portfolio reshaping initiatives, reducing our coffee equity stakes, while driving strong top- and bottom-line synergies from recently acquired assets, including Clif Bar. Our dedicated people remain focused on accelerating and compounding growth through significant investments in our brands, talent and capabilities, while advancing our sustainability initiatives. Given our strong Q1 performance, we are raising our net revenue and earnings outlook for the year.”
Photo: Mondelēz International