Swiss food giant Nestlé has said its nine-month sales remained flat at CHF64.6bn (US$53.0bn).
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Real internal growth accelerated to 2.9%, while pricing added 1.6%, resulting in organic growth of 4.5%. Foreign exchange fluctuations had a negative impact of 2.7% on consolidated Swiss franc sales, while divestitures, net of acquisitions, reduced Swiss franc sales by a further 1.9%.
“Achieving 4.5% organic growth in spite of the competitive situation in Europe in the first nine months demonstrates the unmatched defensive qualities of Nestlé. These are due to a unique combination of geographic spread and leadership positions in faster growth food categories. For the full year I expect an improved constant currency EBITA margin,” said Peter Brabeck-Letmathe, CEO of Nestlé.
Among the company’s product categories, there was good organic growth from PetCare with 6.9%, from Milk Products, Nutrition and Ice Cream with 4.9%, and Chocolate, Confectionery and Biscuits with 4.4%; whilst Prepared Dishes and Cooking Aids accelerated to 3.0%.
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By GlobalData
