Mondelēz International reports sales growth thanks to strong performance in US and Europe

By Laura Mullan
Mondelēz International said its sales climbed 2.1% to $6.1bn in its second quarter, as the snack giant benefited from its cost-saving measures as well...

Mondelēz International said its sales climbed 2.1% to $6.1bn in its second quarter, as the snack giant benefited from its cost-saving measures as well as increased sales in North America and Europe. 

The US-based firm said that its net revenues grew 2.1% whilst organic net revenue grew 3.5%.

“We delivered a strong second quarter, in both developed and emerging markets, building on the momentum created in the beginning of the year,” said Dirk Van de Put, Chairman and CEO.

“We posted solid top-line results with good performance across all regions. We remain focused on executing against our plans and will share the results of our strategic review with investors in September.”

SEE ALSO:

Sales in Mondelēz’s so-called ‘Power Bands’ business, which includes brands such as Oreo, Cadbury and Milka, rose 5.2% to $4.55bn.

Sales in the firm’s established markets of North America and Europe also saw gains, with sales 
In the region rising 6.5% and 6.1% respectively. 

Mondelēz International has also made concerted efforts to reduce its costs by opening more efficient manufacturing plants and implementing zero-based budgeting. 

In doing so, it aims to generate approximately $3bn in cost savings by the end of the year.

In the announcement, the firm raised its sales growth outlook for the year to approximately 2%, excluding acquisitions, divestitures and foreign currency fluctuations. 
 

Share

Featured Articles

Livestock data management platform Breedr raises £12mn

Breedr helps farmers improve their livestock productivity & sustainability. Investbridge Capital led a £12mn funding round to build better farm trading

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink