India signs cooperation agreement with World Food Programme for 2023-27
Net revenues increased 9.5 percent driven by Organic Net Revenue growth of 13.1 percent
Mondelēz International, Inc. has reported its second quarter 2022 results at $7,274 million. Net revenues increased 9.5 percent driven by Organic Net Revenue growth of 13.1 percent, and incremental sales from the company’s acquisition of Chipita, partially offset by unfavorable currency. Pricing and volume drove Organic Net Revenue growth.
“Our second quarter and first half results were marked by strong top and bottom-line performance across all regions and categories, supporting the raising of our full-year revenue growth outlook,” said Dirk Van de Put, Chairman and Chief Executive Officer. “Our chocolate and biscuit businesses continue to demonstrate strong volume growth and pricing resilience across both developed and emerging markets. These results combined with ongoing cost discipline, simplification and revenue growth management are delivering robust profit dollar growth and strong cash flow, enabling us to increase our dividend by 10 percent.
We also continue to execute against our strategy of accelerating our core business while reshaping our portfolio, most recently with our agreement to acquire Clif Bar, a leader in high growth, well-being snack bars, creating a $1 billion-plus snack bar business. Clif Bar has the leading position in the U.S. protein and nutrition segments with clear opportunities to expand domestic and international distribution, velocities and profitability to create significant value for our shareholders in the years to come.”
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