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Mondelēz, a year to be framed

Revenues up 3.7%, equal to $ 26.5 billion, net profit stood at 3.72 billion

Mondelēz International, published the financial results for the fourth quarter of 2020. The Group's net revenues for the year increased by 2.8% and amounted to $ 26.5 billion mainly thanks to the growth in organic net revenues of 3.7 % thanks to revenue from the company's acquisitions of Perfect Snacks in July 2019 and Give & Go in April 2020. Organic net revenues grew in all four regions. Gross profit increased $ 109 million, while gross profit margin decreased 70 basis points to 39.3%. Adjusted gross profit increased by $ 367 million in constant currency, while adjusted gross profit margin decreased 40 basis points to 39.6% due to higher raw material costs. Operating income increased by $ 10 million and operating income margin was 14.5%, down 40 basis points, mainly due to lower year-over-year mark-to-market gains from intangible asset writedowns and costs associated with Jde Peet's operation. Adjusted net profit amounted to $ 3.72 billion, up 3.7%.

As for the fourth quarter, net revenues increased by 5.6% to € 7.3 billion, mainly thanks to the growth in organic net revenues of 3.2% and the acquisition by the company of Give & Go. Organic net revenue grew in all four regions: gross profit increased $ 113 million, while gross profit margin decreased 50 basis points to 39.4%. The adjusted net profit amounted to 970 million dollars (+ 10.2%).

"2020 was a successful year for Mondelēz International and I am proud of our performance, including record share increases, in a challenging operating environment", said Dirk Van de Put, President and CEO. "We have made significant progress with our strategic agenda in 2020, continuing to increase investments in brands and capabilities, simplifying our portfolio, expanding into categories and making acquisitions in high-growth areas such as snacks. We have moved quickly to mitigate the incremental costs related to Covid and we have kept our commitment to generate strong cash flow. We enter 2021 with a strong financial position and a strong market positioning, which gives us the confidence to be able to achieve our growth targets over the long term term in 2021 and beyond".

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EFA News - European Food Agency
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