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World 01.02.2024

Mondelēz International Reports Robust Q4 and FY 2023 Performance: 14.4% Increase in Net Revenues For the Year

Source: The DairyNews
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Mondelēz International, Inc. (Nasdaq: MDLZ) announced impressive results for the fourth quarter and full year of 2023, showcasing a 14.4% increase in net revenues for the year. Key highlights include a substantial growth in Organic Net Revenue, a notable surge in diluted EPS, and strategic capital returns to shareholders.
Mondelēz International Reports Robust Q4 and FY 2023 Performance: 14.4% Increase in Net Revenues For the Year
Key Points:

Revenue Growth: Net revenues for the full year surged by 14.4%, propelled by a remarkable Organic Net Revenue growth of 14.7%, emphasizing the company's resilience and balanced performance across developed and emerging markets.

Earnings Surge: Diluted EPS soared by 84.7%, reaching $3.62, reflecting the company's robust execution and strategic investments. Adjusted EPS also experienced a significant uptick of 19.0% on a constant currency basis.

Cash Flow and Capital Return: Year-to-date cash provided by operating activities reached $4.7 billion, with Free Cash Flow standing at $3.6 billion, showcasing a $0.6 billion increase compared to the previous year. The company returned $3.7 billion to shareholders through cash dividends and share repurchases.

Strategic Moves: Mondelēz successfully closed the divestiture of its developed market gum business, securing $1.4 billion.

Future Outlook: Anticipating an on-algorithm year for 2024, the company expects sustained growth in Organic Net Revenue, Adjusted EPS, and Free Cash Flow, projecting revenue growth at the upper end of the 3-5% range.

Commenting on the results, Dirk Van de Put, Chairman and CEO, emphasized the strength of execution, strategic investments, and portfolio resilience. Looking ahead to 2024, Mondelēz International remains focused on strong execution and increased investments to support sustainable growth in the years to come.

Note: All figures and percentages are based on the provided information from Mondelēz International's Q4 2023 report.
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February 2024
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