Mondelēz reveals its net revenues increased by +17.0% in the second quarter of 2023, driven by organic net revenue growth of +15.8%, with strong volume/mix performance in three out of four regions. Its year-to-date cash provided by operating activities was USD 2.0 billion, the company announced, with a free cash flow of USD 1.5 billion. The return of capital to shareholders was USD 1.7 billion in the first half of the year.
Dirk Van de Put, Chairman and Chief Executive Officer commented on the results, “Which demonstrate broad-based strength across our business, with strong, profitable top-line growth in all regions and categories. Continuous reinvestment in our brands and capabilities, combined with ongoing price execution, cost discipline and strong volume/mix performance drove these results.”
The company continues to make “significant progress” in its portfolio reshaping initiatives as it remains focused on sustainable growth. “Our strong first-half performance and category resilience provide confidence to raise both our net revenue and earnings outlooks for the year.”
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