Nestle 1Q Sales Rose; Backs 2022 Outlook
April 21 2022 - 1:10AM
Dow Jones News
By Giulia Petroni
Nestle SA said Thursday that sales rose in the first quarter as
the company stepped up pricing against significant cost inflation
and backed its full-year outlook.
The Swiss consumer-goods giant reported quarterly sales of 22.24
billion Swiss francs ($23.43 billion), from CHF21.09 billion in the
previous-year period. Analysts had forecast sales of CHF21.69
billion, according to a company-compiled consensus.
Quarterly sales grew 7.6% organically, with real internal growth
of 2.4% and pricing of 5.2%. RIG, pricing and organic growth
figures exclude the Russia region, according to the company.
"Growth was broad-based across most geographies and categories,
with increased pricing, continued momentum in retail sales and a
further recovery in out-of-home channels," Nestle said.
Over the course of the year, rising cost inflation will require
to take further pricing and mitigating actions, Chief Executive
Officer Mark Schneider said.
Nestle confirmed it expects organic sales growth of around 5%
and underlying trading operating profit margin between 17% and
17.5% in the full year. Underlying earnings per share in constant
currency and capital efficiency are expected to increase.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 21, 2022 01:55 ET (05:55 GMT)
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