Nestle, the world’s largest food maker, today (19 February) that the company grew “substantially faster” than its competitors in 2009.
CEO Paul Bulcke pointed to a 4.1% rise in sales on an organic basis and a “further significant improvement” in EBIT margin.
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“We stepped up investment in our brands and the pace of our innovation, adapted our products to the changing needs of consumers and further accelerated efficiencies,” Bulcke said.
“These actions, together with the disciplined alignment of our people behind clear strategic priorities, allowed us to again combine a strong top and bottom line performance in 2009, coming on top of excellent results in 2008.”
Annual turnover reached CHF108bn, up 4.1% organically and 1.9% of “real, internal growth”, Nestle said. On a reported basis, Nestle’s annual sales were down from the CHF109.91bn recorded in 2008, as the company was hit by foreign exchange. EBIT reached CHF15.7bn, against EBIT of 15.68bn a year ago.
Nestle’s net profit slid 42% in 2009 to CHF10.43bn. The company’s figures in 2008 included contributions from eye-care business Alcon. Last month, Nestle said it would sell its remaining 52% stake in Alcon to health-care giant Novartis.
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By GlobalDataClick here for the full 2009 results release from Nestle and check back later for coverage of the company’s press conference on the numbers.
