Mondelēz posts 9.5% sales growth, raises full-year outlook

Mondelēz International has posted a 9.5% increase in second-quarter sales and raised its full-year outlook for organic net revenue growth.

The owner of Toblerone and Oreo reported revenue of $7.27 billion in Q2, compared with the $6.64 billion figure recorded in the prior-year period. Organic net revenue growth stood at 13.1%.

The company continued its efforts to accelerate its core business and reshape its portfolio, announcing an agreement to acquire snack bar company Clif Bar during the quarter.

In Q2, the snacks giant recorded net revenue growth of 22.4% for its emerging markets business. Meanwhile, the company’s developed markets posted net revenue growth of 2.7%.

In Europe, Mondelēz witnessed a 6.1% increase in sales to $2.63 billion, while its North America region saw 9.3% growth to $2.24 billion.

In Latin America, the company’s second-quarter revenue grew 30.9% to $876 million, whereas its Asia, Middle East & Africa net revenue stood at $1.54 billion, representing a 5.7% increase.

Dirk Van de Put, Mondelēz’s chairman and CEO, said: “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%.”

He added: “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, wellbeing snack bars, creating a $1 billion-plus snack bar business. Clif Bar has the leading position in the US 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.”

Mondelēz has raised its organic net revenue growth outlook for the full year to 8%.