- Organic growth reached 7.8%, with pricing of 8.4% and real internal growth (RIG) of -0.6%. Growth was broad-based across geographies and categories.
- Total reported sales decreased by 0.4% to CHF 68.8 billion (9M-2022: CHF 69.1 billion). Foreign exchange decreased sales by 7.4%. Net acquisitions had a negative impact of 0.8%.
- Portfolio management progressing. In the third quarter, Nestlé announced an agreement to acquire a majority stake in Grupo CRM, a premium chocolate company in Brazil. Nestlé also divested Palforzia, its peanut allergy treatment business, to Stallergenes Greer.
- Full-year 2023 outlook confirmed: we expect organic sales growth between 7% 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%.
Mark Schneider, Nestlé CEO, commented:
"Our diversified portfolio and differentiated offerings helped us deliver strong organic growth in the first nine months of the year. Growth was driven by pricing as we continued to navigate historic inflation levels. The recovery of our volume and mix is underway. We are seeing the benefits of our portfolio optimization initiatives and increasing marketing investments behind our billionaire brands. These steps underpin our confidence that real internal growth, the sum of volume and mix, will turn positive in the second half of the year and again become the main driver of growth going forward.
At the same time, Nestlé has further strengthened its nutrition strategy and stepped-up its efforts to guide people towards a balanced diet. Actions include providing clear, front-of-pack portion guidance, transparency on the nutritional value of our products and leading marketing-to-children policies. We also set an ambitious target to grow the sales of our more nutritious products by CHF 20-25 billion by 2030."