Confectionery, food and beverage company, Mondelēz International, has reported a 0.2 per cent increase in net revenues in 2018 despite unfavourable currency and divestiture impacts.
Gross profit grew $318 million (an increase of 3 per cent), while operating income declined $150m (down -4 per cent). Mondelēz’s diluted earnings per share was $2.28, up 23 per cent – driven primarily by an after-tax gain on the company’s Keurig Dr Pepper transaction.
“Our fourth quarter and full-year 2018 results demonstrate the power of our brands, the strength of our global footprint and the potential of our strategic plan,” said Dirk Van de Put, Mondelēz’s chairman and chief executive officer.
“We delivered on our key financial and strategic commitments for the year, including solid top-line and bottom-line growth and strong cash flow generation. In 2019, we will continue to progress against our new strategy, which includes new investments to drive organic revenue growth and operational excellence across the organisation.”
Mondelēz has a number of key strategic initiatives in place including a new incentive structure to reward entrepreneurial behaviour. The company has also committed to make all of its packaging recyclable by 2025 to help deliver its long-term vision for zero-net waste packaging.