Mondelēz boosted by emerging markets performance in 2019 | Progresiv
Mondelēz International delivered organic net revenue growth of 4.1% last year as it was helped by its performance in emerging markets. 
The owner of Cadbury and Oreo recorded net revenue of 25.87 billion dollars in 2019. Net earnings attributable to the company increased to 3.87 billion dollars.
The company’s Asia, Middle East and Africa unit increased revenue by 5.3% last year, driven by double-digit growth in India and high single-digit growth in China.
In a conference call with investors, Mondelēz CEO Dirk Van de Put said developed markets “showed robust growth”, with both Europe and North America “performing well”. Last year, Mondelēz acquired a majority interest in Perfect Snacks, a US maker of refrigerated nutrition bars.
“2019 was a major step forward for the company: execution of our strategy, including investments in global and local brands, enabled us to deliver strong top-line performance and to meet or exceed all of our financial targets,” said Van de Put.
“We are increasingly confident that our incremental investments in brands and capabilities, emphasis on volume leverage and profit dollar growth will create a virtuous cycle that consistently delivers attractive top- and bottom-line growth and sustained free cash flow generation.”
However, Van de Put warned that the company’s first-quarter revenue of this year will be impacted by the coronavirus spreading across China – a country that accounts for 4.5% of its total sales.
Chinese authorities have asked Mondelēz to keep two of its factories closed in the country for ten days to reduce the risk of infection.
For 2020, Mondelēz expects organic sales growth of 3% and high single-digit EPS growth. (www.foodbev.com)
