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Kraft Heinz Files an "Incredible Year"

Revenues +1.7% in 2022: +447.9% in the fourth quarter alone

The Kraft Heinz Company today released fourth quarter and full year 2022 financial results. We start with the fourth quarter, which ended with net sales up 10% over the same period a year ago, reaching $7.4 billion. dollars. Organic net sales increased 10.4% over the prior period, prices increased 15.2%, and net income jumped 447.9% to $887 million. Ebitda is up 8.6% on the previous period, reaching 1.7 billion dollars. For all of 2022, net sales increased 1.7% from 2021 to $26.5 billion. Prices increased 13.2% and profit grew 131.3% over 2021 to $2.4 billion. Adjusted EBITDA decreased 5.8% from twelve months earlier to $6 billion.

On the other hand, net cash generated by operating activities decreased by 54% during the year: it stood at 2.5 billion dollars with a loss due "primarily to one-time proceeds from the sale of licenses in connection with the transaction Cheese, to higher cash outflows related to inventory replenishment and rising input costs", the company said in a statement.

"2022 was an incredible year for Kraft Heinz, as we delivered strong results and closed the fourth quarter with solid momentum that positions us well for 2023," said Miguel Patricio, CEO and Chairman of the Board of Kraft Heinz. to see a force driven by our key pillars of growth, while prioritizing investments in our brands and realizing efficiencies.The results are even more impressive given the challenging operating environment, with record levels of inflation and supply chain disruptions supply, to which our teams responded with agility".

In the company note, it is explained that "the company forecasts for 2023 a growth in organic net sales of between 4% and 6% compared to 2022. EBITDA growth is expected to be between 2% and 4% %, or between 4% and 6%.

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EFA News - European Food Agency