- Total reported sales increased by 8.4% to CHF 94.4 billion. Net acquisitions had a positive impact of 1.1%. Foreign exchange decreased sales by 0.9%.
- Organic growth reached 8.3%. Pricing was 8.2%, reflecting significant cost inflation. Real internal growth (RIG) was positive at 0.1%. Organic growth was broad-based across most geographies and categories.
- The underlying trading operating profit (UTOP) margin was 17.1%, decreasing by 30 basis points on a reported basis and by 40 basis points in constant currency. The trading operating profit (TOP) margin was unchanged at 14.0%.
- Underlying earnings per share increased by 5.8% in constant currency and by 5.1% on a reported basis to CHF 4.42. Earnings per share increased by 41.1% to CHF 6.06 on a reported basis, mainly reflecting the gain on the disposal of L’Oréal shares.
- Free cash flow was CHF 6.6 billion, as working capital increased temporarily in the context of supply chain constraints and capital expenditure remained above historic trendlines.
- Board proposes a dividend of CHF 2.95 per share, an increase of 15 centimes, marking 28 consecutive years of dividend growth. In total, CHF 18.2 billion were returned to shareholders in 2022 through a combination of dividends and share buybacks.
- 2023 outlook: we expect organic sales growth between 6% and 8% and an underlying trading operating profit margin between 17.0% and 17.5%. Underlying earnings per share in constant currency is expected to increase between 6% and 10%.
- 2025 targets fully confirmed: we expect sustainable mid single-digit organic sales growth and a return to an underlying trading operating profit margin range of 17.5% to 18.5% by 2025. We expect annual underlying earnings per share growth to be in the range of 6% to 10% in constant currency.
Mark Schneider, Nestlé CEO, commented:"Last year brought many challenges and tough choices for families, communities and businesses. Inflation surged to unprecedented levels, cost of living pressures intensified, and the effects of geopolitical tensions were felt around the world.
The entire Nestlé team demonstrated dependability, as we navigated this difficult environment. Organic growth was solid, margins continued to be resilient, and our underlying earnings per share development was strong. At the same time, we ensured access to nutritious products and affordable offerings globally.
During 2022, we also confirmed our longstanding nutrition strategy, with Good for You, Good for the Planet at its heart. We took important actions to further strengthen our industry-leading responsible marketing practices and to provide transparency on the nutritional value of our global portfolio. At the same time, we also advanced the implementation of our climate roadmap.
Looking to 2023, we expect another year of robust organic growth, with a focus on restoring our gross margin, stepping up marketing investments and increasing free cash flow. Nestlé’s value creation model puts us in a strong position to achieve our 2025 targets and to generate reliable, sustainable shareholder returns."
Group Results
|
Total Group |
Zone North America |
Zone Europe |
Zone AOA |
Zone Latin America |
Zone Greater China |
Nespresso |
Nestlé Health Science |
Other Businesses |
Sales FY-2022 (CHF m) |
94 424 |
26 328 |
19 128 |
18 484 |
11 819 |
5 351 |
6 448 |
6 602 |
264 |
Sales FY-2022 (CHF m)* |
87 088 |
23 693 |
18 794 |
17 894 |
10 086 |
5 175 |
6 418 |
4 822 |
206 |
Real internal growth (RIG)** |
0.1% |
- 1.3% |
0.9% |
0.1% |
1.5% |
1.0% |
- 1.7% |
0.6% |
25.2% |
Pricing** |
8.2% |
11.6% |
6.4% |
8.1% |
11.6% |
2.5% |
5.2% |
3.4% |
3.2% |
Organic growth** |
8.3% |
10.3% |
7.2% |
8.2% |
13.1% |
3.5% |
3.5% |
4.0% |
28.4% |
Net M&A** |
1.1% |
- 3.8% |
2.1% |
- 0.1% |
0.1% |
0.0% |
- 0.3% |
31.5% |
0.0% |
Foreign exchange** |
- 0.9% |
4.7% |
- 7.6% |
-4.9% |
4.0% |
- 0.1% |
- 2.7% |
1.5% |
- 0.1% |
Reported sales growth |
8.4% |
11.1% |
1.8% |
3.3% |
17.2% |
3.4% |
0.5% |
36.9% |
28.3% |
FY-2022 Underlying TOP Margin |
17.1% |
21.0% |
16.4% |
22.9% |
21.2% |
16.1% |
21.5% |
13.6% |
-6.1% |
FY-2022 Underlying TOP Margin* |
17.4% |
20.3% |
18.3% |
24.0% |
21.9% |
13.5% |
23.0% |
13.6% |
-15.6% |
2021 figures restated following the creation of Zone North America (NA) and Zone Greater China (GC) as of January 1, 2022. Zone AOA includes Middle East and North Africa (MENA) previously included in Zone EMENA **RIG, pricing and organic growth figures exclude the Russia region, with a corresponding impact on the M&A and foreign exchange lines
Group sales
Organic growth was 8.3%. Pricing increased to 8.2%, reflecting significant cost inflation. RIG was positive at 0.1%, following a high base of comparison in 2021, supply constraints and portfolio optimization actions.
Organic growth was 7.1% in developed markets, driven by pricing. In emerging markets, organic growth was 10.0%, supported by both pricing and RIG.
By product category, Purina PetCare was the largest contributor to organic growth, with continued momentum for science-based and premium brands Purina Pro Plan, Purina ONE and Fancy Feast, as well as veterinary products. Sales in coffee grew at a high single-digit rate, with broad-based growth across brands and geographies, supported by a strong recovery of out-of-home channels. Sales of Starbucks products grew by 12.9% to reach CHF 3.6 billion, generating over CHF 1.5 billion of incremental sales compared with 2018. Infant Nutrition saw double-digit growth, with broad-based contributions across geographies and brands. Confectionery posted high single-digit growth, reflecting particular strength for KitKat, seasonal products and key local brands. Dairy reported mid single-digit growth, with continued momentum for coffee creamers, affordable fortified milks and home-baking products. Water recorded double-digit growth, with a sales decrease in the fourth quarter as a result of temporary capacity constraints. Prepared dishes and cooking aids posted low single-digit growth, following a high base of comparison in 2021, with continued strong demand for Maggi . Sales in vegetarian and plant-based food grew at a mid single-digit rate. Garden Gourmet in Europe continued to see double-digit growth, while sales for Sweet Earth in North America were impacted by SKU optimization. Nestlé Health Science reported mid single-digit growth, driven by Medical Nutrition and healthy-aging products.
By channel, organic growth in retail sales remained robust at 7.2%. E-commerce sales grew by 9.2%, reaching 15.8% of total Group sales. Organic growth of out-of-home channels reached 23.5%, with sales exceeding 2019 levels. In the fourth quarter, RIG for out-of-home channels moderated to a mid single-digit rate as a result of post-pandemic normalization.
Net acquisitions increased sales by 1.1%, largely related to the acquisitions of the core brands of The Bountiful Company and Orgain. The impact on sales from foreign exchange was negative at -0.9%. Total reported sales increased by 8.4% to CHF 94.4 billion.
Underlying Trading Operating Profit
Underlying trading operating profit increased by 6.5% to CHF 16.1 billion. The underlying trading operating profit margin decreased by 30 basis points to 17.1% on a reported basis and by 40 basis points in constant currency, reflecting significant cost inflation.
Gross profit increased by 2.5% to CHF 42.7 billion. Gross profit margin decreased by 260 basis points to 45.2%, following significant broad-based inflation for commodity, packaging, freight and energy costs. The impact of cost inflation increased in the second half, reflecting higher costs for dairy, cereals and energy. Pricing, growth leverage and efficiencies helped to partly offset the impact of cost inflation.
Distribution costs as a percentage of sales benefited from the divestment of the Nestlé Waters North America brands.
Marketing and administration expenses decreased by 2.6% to CHF 16.8 billion. Consumer-facing marketing spend decreased temporarily, following a lower level of promotion and marketing activities in the context of supply constraints. Consumer-facing marketing spend increased in the second half of the year compared to the first half. Administrative expenses as a percentage of sales benefited from very disciplined cost control.
Restructuring expenses and net other trading items were CHF 2.9 billion, slightly below the prior year. As a result, trading operating profit increased by 8.5% to CHF 13.2 billion and the trading operating profit margin was unchanged versus the prior year on a reported basis at 14.0%.
Net Financial Expenses and Income Tax
Net financial expenses increased by 19.2% to CHF 1.0 billion, reflecting higher average net debt. Our average cost of net debt increased slightly to 2.2%, compared to 2.0% in 2021.
The Group reported tax rate increased by 330 basis points to 24.2% as a result of one-off items. The underlying tax rate was relatively stable at 20.9%.
Net Profit and Earnings Per Share
Net profit decreased by 45.2% to CHF 9.3 billion. Net profit margin decreased by 960 basis points to 9.8%, reflecting the gain on disposal of L'Oréal shares in 2021. As a result, earnings per share decreased by 43.5% to CHF 3.42 on a reported basis.
Underlying earnings per share increased by 9.4% in constant currency and by 8.4% on a reported basis to CHF 4.80. The increase was mainly the result of strong organic growth. Nestlé’s share buyback program contributed 1.8% to the underlying earnings per share increase, net of finance costs.
Cash Flow
Cash generated from operations before changes in working capital increased from CHF 16.8 billion to CHF 18.4 billion, up 20 basis points as a percentage of sales.
Free cash flow decreased from CHF 8.7 billion to CHF 6.6 billion, reflecting a deliberate and temporary increase in inventories in the context of supply chain disruptions and the energy crisis in Europe. Capital expenditure remained at an elevated level due to increased demand, particularly for PetCare.
Dividend
At the Annual General Meeting on April 20, 2023, the Board of Directors will propose a dividend of CHF 2.95 per share, an increase of 15 centimes. If approved, this will be the company’s 28th consecutive annual dividend increase. The company has maintained or increased its dividend in Swiss francs over the last 63 years. Nestlé is committed to maintaining this long-held practice to increase the dividend in Swiss francs every year.
The last trading day with entitlement to receive the dividend will be April 21, 2023. The net dividend will be payable as from April 26, 2023. Shareholders entered in the share register with voting rights on April 13, 2023, at 12:00 noon (CEST) will be entitled to exercise their voting rights.
Share Buyback Programs
In 2022, the Group repurchased CHF 10.6 billion of Nestlé shares as part of the three-year CHF 20 billion share buyback program, which began in January 2022. At the upcoming Annual General Meeting, the Board of Directors will propose to reduce the share capital by 80 million shares from CHF 275 million to CHF 267 million through the cancellation of shares purchased, as part of the share buyback program.
Net Debt
Net debt was CHF 48.2 billion as at December 31, 2022, compared to CHF 32.9 billion at December 31, 2021. The higher level of debt largely reflected share buybacks of CHF 10.5 billion, mostly financed by the disposal of L'Oréal shares in December 2021, and a temporary increase in working capital.
Return on Invested Capital (ROIC)
The Group's ROIC was unchanged versus 2021 at 12.2%. Excluding significant impairments, ROIC increased by 10 basis points to 14.3%.
Portfolio Management
Nestlé completed acquisitions and divestments with a total value of around CHF 1.9 billion in 2022.On April 1, 2022, Nestlé Health Science completed the acquisition of a majority stake in Orgain, a leader in plant-based nutrition. Orgain complements Nestlé Health Science's existing portfolio of nutrition products that support healthier lives.
On September 1, 2022, Nestlé Health Science completed the acquisition of Puravida, a premium Brazilian nutrition and health lifestyle brand. The acquisition will enable Nestlé Health Science to expand its consumer health portfolio in Latin America.
On September 1, 2022, Nestlé Health Science completed the acquisition of The Better Health Company. The acquisition includes the GO Healthy brand, New Zealand's leading supplement brand, and New Zealand Health Manufacturing, an Auckland-based manufacturing facility for vitamins, minerals and supplements. The acquisition will expand Nestlé Health Science's portfolio of vitamins, minerals and supplements in AOA.
On October 19, 2022, Nestlé announced the acquisition of Seattle's Best Coffee from Starbucks. This transaction is part of Nestlé's focus on driving sustained profitable growth in the coffee category and strengthens the Global Coffee Alliance by allowing both companies to focus on their core strengths. The transaction was completed on January 13, 2023.
On November 1, 2022, Nestlé completed the sale of the Gateway infant formula plant in Eau Claire, Wisconsin, along with U.S. and Canadian rights to the Gerber Good Start infant formula brand to Perrigo.
On November 15, 2022, Nestlé and L Catterton created a partnership that brings together Freshly and Kettle Cuisine, a leading manufacturer of fresh food products for retail and foodservice customers. The combined company focuses on offering a wide assortment of fresh food products to customers across geographies and a variety of channels. L Catterton is the majority owner, with Nestlé holding a minority stake.
On November 29, 2022, the Group announced the decision to explore strategic options for Palforzia, the peanut allergy treatment, following slower than expected adoption by patients and healthcare professionals. The review is expected to be completed in the first half of 2023.
Zone Asia, Oceania and Africa (AOA)
- 8.2% organic growth: 0.1% RIG; 8.1% pricing.
- The Zone's underlying trading operating profit margin decreased by 110 basis points to 22.9%..
|
Sales 2022 |
Sales 2021 |
RIG |
Pricing |
Organic growth |
UTOP 2022 |
UTOP 2021 |
Margin 2022 |
Margin 2021 |
Zone AOA |
CHF 18.5 bn |
CHF 17.9 bn |
0.1% |
8.1% |
8.2% |
CHF 4.2 bn |
CHF 4.3 bn |
22.9% |
24.0% |
Organic growth reached 8.2%, with pricing of 8.1%. RIG was 0.1%, impacted by a high base of comparison in 2021 and portfolio optimization actions. Foreign exchange reduced sales by 4.9%. Reported sales in Zone AOA increased by 3.3% to CHF 18.5 billion.
Growth in Zone AOA was driven by pricing, continued recovery of out-of-home channels and innovation. The Zone saw market share gains in coffee, culinary and Infant Nutrition.
South-East Asia saw mid single-digit growth, led by Nescafé, Maggi and Milo. South Asia posted double-digit growth, with market share gains and continued momentum for Maggi, KitKat and Nescafé. Sales in the Middle East and Africa grew at a double-digit rate, based on strong momentum for affordable offerings across Maggi and Milo as well as broad-based demand for Infant Nutrition products. Despite portfolio optimization, Japan reported low single-digit growth, supported by Nescafé, Starbucks and Purina PetCare. Sales in South Korea grew at a double-digit rate, driven by Starbucks products and increased demand for KitKat. Oceania recorded high single-digit growth, with particular strength for Nescafé, Maggi and KitKat.
By product category, culinary was the largest growth contributor, led by Maggi cooking aids and noodles. Sales in Nestlé Professional grew at a strong double-digit rate across geographies and categories, fueled by increased distribution. Coffee saw high single-digit growth, with continued strong demand for Nescafé and Starbucks products. The Zone launched Starbucks ready-to-drink products in seven markets. Infant Nutrition reached high single-digit growth, based on innovation and increased distribution. Cocoa and malt beverages posted high single-digit growth, driven by Milo. Sales in confectionery grew at a double-digit rate, led by KitKat. Purina PetCare reported high single-digit growth, with continued momentum for Purina ONE, Felix and Purina Pro Plan. Ambient dairy saw a slight sales decrease, largely due to portfolio optimization actions.
The Zone's underlying trading operating profit margin decreased by 110 basis points. Significant cost inflation more than offset pricing, growth leverage and disciplined cost control.
Nestlé Health Science
- 4.0% organic growth: 0.6% RIG; 3.4% pricing.
- The underlying trading operating profit margin was unchanged at 13.6%.
|
Sales 2022 |
Sales 2021 |
RIG |
Pricing |
Organic growth |
UTOP 2022 |
UTOP 2021 |
Margin 2022 |
Margin 2021 |
Nestlé Health Science |
CHF 6.6 bn |
CHF 4.8 bn |
0.6% |
3.4% |
4.0% |
CHF 0.9 bn |
CHF 0.7 bn |
13.6% |
13.6% |
RIG, pricing and organic growth figures exclude the Russia region, with a corresponding impact on the M&A and foreign exchange lines
Organic growth was 4.0%, with increased pricing of 3.4%. RIG was 0.6%, following strong double-digit growth in both 2020 and 2021 during the pandemic. Net acquisitions increased sales by 31.5%, largely related to the acquisitions of the core brands of The Bountiful Company and Orgain. Foreign exchange positively impacted sales by 1.5%. Reported sales in Nestlé Health Science increased by 36.9% to CHF 6.6 billion.
Consumer Care posted positive growth, as double-digit growth in active nutrition was offset by a slight sales decrease in vitamins, minerals and supplements. Within active nutrition, healthy-aging products were the largest contributor to growth, led by Boost and Nutren. Vital Proteins and Orgain saw double-digit growth with market share gains. Within vitamins, minerals and supplements, growth for The Bountiful Company brands and Garden of Life were impacted by a high base of comparison for immunity-related products during the pandemic.
Medical Nutrition recorded double-digit growth, with strong sales developments for pediatric and allergy products, Althéra, Alfaré and Alfamino. Adult medical care products also posted strong growth based on new product launches.
By geography, sales in North America grew at a low single-digit rate. Europe reported positive growth. Other regions combined posted high single-digit growth. Overall, Nestlé Health Science saw broad-based market share gains.
The underlying trading operating profit margin of Nestlé Health Science was unchanged versus the prior year, as cost synergies from newly acquired businesses and growth leverage were offset by cost inflation and growth investments.
Nespresso
- 3.5% organic growth: -1.7% RIG; 5.2% pricing.
- The underlying trading operating profit margin of Nespresso decreased by 150 basis points to 21.5%.
|
Sales 2022 |
Sales 2021 |
RIG |
Pricing |
Organic growth |
UTOP 2022 |
UTOP 2021 |
Margin 2022 |
Margin 2021 |
Nespresso* |
CHF 6.4 bn |
CHF 6.4 bn |
-1.7% |
5.2% |
3.5% |
CHF 1.4 bn |
CHF 1.5 bn |
21.5% |
23.0% |
RIG, pricing and organic growth figures exclude the Russia region, with a corresponding impact on the M&A and foreign exchange lines.
Organic growth was 3.5%, with pricing of 5.2%. RIG was -1.7%, following strong growth of 8.2% in 2021 during the pandemic. Foreign exchange negatively impacted sales by 2.7%. Reported sales in Nespresso increased by 0.5% to CHF 6.4 billion.
Growth in Nespresso was led by broad-based momentum for the Vertuo system. Vertuo Pop, a new compact machine, was launched in 10 markets. Growth was also supported by a strong recovery of out-of-home channels, with continued expansion of the Momento system and improved sales development for the office segment. Innovation and new product launches, including the year-end festive campaign with Pierre Hermé, continued to resonate with consumers. By geography, North America posted double-digit growth with continued market share gains. Europe reported a sales decrease, with growth turning positive in the fourth quarter. Other regions combined recorded high single-digit growth.
The underlying trading operating profit margin of Nespresso decreased by 150 basis points, impacted by cost inflation and investments in the rollout of the Vertuo system.
Business as a force for good: Making progress on 'Good for You, Good for the Planet' Two important pillars of Nestlé's strategy include: 'Good for You', which covers the company's products and their nutritional value, and 'Good for the Planet', which encompasses the company's sustainability efforts.
On 'Good for You', the company has a long heritage of supporting peoples' nutrition and has made great progress in reducing the sodium, sugar and saturated fat in its products over the past decade. Starting next month, the company will begin making the nutritional value of its global portfolio transparent, using an external, internationally recognized model for reporting. Nestlé will also start reporting on local portfolios in 14 countries, using local external benchmarks. In addition, Nestlé recently strengthened its responsible marketing practices, voluntarily restricting its marketing to kids under the age of 16. The company wants to be at the forefront of the industry when it comes to bringing balanced diets within reach for people around the world.
On 'Good for the Planet' ,Nestlé's greenhouse gas emissions are now below the 2018 levels, based on SBTi standards, even as the company has continued to grow since then. The biggest part of Nestlé's emissions come from activities within its supply chain (Scope 3), which is why the company is heavily focused on reducing them through the sourcing of its raw materials and regenerative agriculture. It is working with farmers all over the world to help them make the transition to regenerative agriculture. It is sourcing more volumes from farmers who make that transition, while providing technical and financial support to help other farmers start. Through the Nescafé Plan 2030, for example, Nestlé is piloting a financial support scheme to encourage coffee farmers to accelerate the shift.
Nestlé is also tackling the emissions it has more direct control over (Scope 1 and 2). It is using its R&D expertise and innovation capabilities to adapt recipes to lower the emissions of new and established products. Nestlé is becoming more energy efficient and ramping up its use of renewable electricity. In fact, the company is on track to source 100% renewable electricity by 2025. In North America, for example, Nestlé completed a large-scale solar energy farm and invested in two more. Combined, the solar energy farms will supply approximately 80% of Nestlé's energy in the U.S. and reduce its carbon emissions by 3.3 million tonnes of carbon equivalents. Additionally, Nestlé is implementing nature-based solutions where it sources its raw materials to remove emissions and store them in the ground. In Nicaragua, for instance, the company reached its 2022 goal of planting one million trees, as part of a six-year reforestation project to plant 8.6 million trees on the Nescafé and dairy farms from which Nestlé sources. The project is estimated to capture about 3.3 million tonnes of carbon equivalents over 20 years. It is expected to improve biodiversity and forest connectivity, to protect water sheds and to provide job opportunities.
Outlook
2023 outlook: we expect organic sales growth between 6% and 8% and underlying trading operating profit margin between 17.0% and 17.5%. Underlying earnings per share in constant currency is expected to increase between 6% and 10%.
2025 targets fully confirmed: we expect sustainable mid single-digit organic sales growth and a return to an underlying trading operating profit margin range of 17.5% to 18.5% by 2025. We expect annual underlying earnings per share growth to be in the range of 6% to 10% in constant currency.
|
Total Group |
Zone North America |
Zone Europe |
Zone AOA |
Zone Latin America |
Zone Greater China |
Nespresso |
Nestlé Health Science |
Other Businesses |
Sales FY-2022 (CHF m) |
94 424 |
26 328 |
19 128 |
18 484 |
11 819 |
5 351 |
6 448 |
6 602 |
264 |
Sales FY-2022 (CHF m)* |
87 088 |
23 693 |
18 794 |
17 894 |
10 086 |
5 175 |
6 418 |
4 822 |
206 |
Real internal growth (RIG)** |
0.1% |
- 1.3% |
0.9% |
0.1% |
1.5% |
1.0% |
- 1.7% |
0.6% |
25.2% |
Pricing** |
8.2% |
11.6% |
6.4% |
8.1% |
11.6% |
2.5% |
5.2% |
3.4% |
3.2% |
Organic growth** |
8.3% |
10.3% |
7.2% |
8.2% |
13.1% |
3.5% |
3.5% |
4.0% |
28.4% |
Net M&A** |
1.1% |
- 3.8% |
2.1% |
- 0.1% |
0.1% |
0.0% |
- 0.3% |
31.5% |
0.0% |
Foreign exchange** |
- 0.9% |
4.7% |
- 7.6% |
-4.9% |
4.0% |
- 0.1% |
- 2.7% |
1.5% |
- 0.1% |
Reported sales growth |
8.4% |
11.1% |
1.8% |
3.3% |
17.2% |
3.4% |
0.5% |
36.9% |
28.3% |
FY-2022 Underlying TOP Margin |
17.1% |
21.0% |
16.4% |
22.9% |
21.2% |
16.1% |
21.5% |
13.6% |
-6.1% |
FY-2022 Underlying TOP Margin* |
17.4% |
20.3% |
18.3% |
24.0% |
21.9% |
13.5% |
23.0% |
13.6% |
-15.6% |
*2021 figures restated following the creation of Zone North America (NA) and Zone Greater China (GC) as of January 1, 2022. Zone AOA includes Middle East and North Africa (MENA) previously included in Zone EMENA **RIG, pricing and organic growth figures exclude the Russia region, with a corresponding impact on the M&A and foreign exchange lines
Full-year sales and underlying trading operating profit (UTOP) overview by product
|
Total Group |
Powdered & liquid beverages |
Water |
Milk products & ice cream |
Nutrition & Health Science |
Prepared dishes & cooking aids |
Confec-tionery |
PetCare |
Sales FY-2022 (CHF m) |
94 424 |
25 218 |
3 536 |
11 289 |
15 678 |
12 484 |
8 118 |
18 101 |
Sales FY-2021 (CHF m) |
87 088 |
23 975 |
4 040 |
10 700 |
13 157 |
12 146 |
7 514 |
15 556 |
Real internal growth (RIG) |
0.1% |
0.2% |
2.2% |
-4.3% |
1.7% |
-6.9% |
4.8% |
4.3% |
Pricing |
8.2% |
7.8% |
8.9% |
9.6% |
5.7% |
10.0% |
4.7% |
10.2% |
Organic growth |
8.3% |
8.0% |
11.0% |
5.4% |
7.4% |
3.1% |
9.4% |
14.5% |
FY-2022 Underlying TOP (CHF m) |
16 103 |
5 593 |
277 |
2 568 |
2 990 |
2 038 |
1 364 |
3 706 |
FY-2021 Underlying TOP (CHF m)* |
15 119 |
5 631 |
364 |
2 707 |
2 307 |
2 040 |
1 205 |
3 282 |
FY-2022 Underlying TOP Margin |
17.1% |
22.2% |
7.8% |
22.7% |
19.1% |
16.3% |
16.8% |
20.5% |
FY-2021 Underlying TOP Margin* |
17.4% |
23.5% |
9.0% |
25.3% |
17.5% |
16.8% |
16.0% |
21.1% |
**RIG, pricing and organic growth figures exclude the Russia region, with a corresponding impact on the M&A and foreign exchange lines
For more information, please contact: Layal Dalal, Media Relations Manager, Middle East and North Africa
Tel.: 00971559803757
Email: [email protected]
About Nestlé Middle East and North Africa (MENA)Nestlé’s heritage in the Middle East and North Africa goes back over 100 years with the sale of the first Infant Cereals in Egypt. Today, Nestlé operates 24 Food & Beverage factories across the 19 countries of the MENA region and provides direct employment to more than 15,000 people who are all committed to Nestlé’s purpose of unlocking the power of food to enhance quality of life for everyone, today and for generations to come. Nestlé MENA also provides indirect employment across the region to several thousand more.
The Nestlé portfolio in the region currently exceeds 60 innovative product brands in a wide range of categories: Dairy, Infant Nutrition, Coffee and Creamers, Confectionery, Bottled Water, Breakfast Cereals, Culinary products, Health Science, and Pet Care, among others. Nestlé NIDO, Nestlé CERELAC, Nestlé NAN, S-26, PROGRESS, NESCAFÉ, NESPRESSO, Bonjorno Café, Coffee-mate, KitKat, MAGGI, Nestlé FITNESS, Nestlé Grain d’Or, Nestlé Pure Life, OPTIFAST, and PURINA Friskies are just some of the brands available in the Middle East and North Africa.
To know more, you can visit:
Website: www.nestle-mena.com
Facebook: https://www.facebook.com/NestleMiddleeastNorthafrica
Twitter: https://twitter.com/nestleme
YouTube: https://www.youtube.com/c/NestléMENA