Mondelēz International, Inc. has reported its fourth quarter 2022 results.
"Our 2022 results demonstrate the strength and diversification of our portfolio as we delivered broad-based growth in terms of regions, categories, and brands. We delivered strong gross profit dollar growth, driven by double-digit top-line growth supported by both pricing and volume, enabling robust cash flow generation and significant return of capital to shareholders. These results were underscored by continued strength in emerging and developed markets as well as solid contributions from our recently acquired businesses," said Dirk van de Put, chairman and chief executive officer.
“We made significant progress against our strategy of accelerating growth and focusing our portfolio in the attractive, resilient categories of chocolate, biscuits, and baked snacks, while continuing to invest in our brands and capabilities. We also continued to deliver strong marketplace execution amid challenging operating conditions and continued macroeconomic volatility," he notes.
Mondelēz International provides its outlook on a non-Generally Accepted Accounting Principles (GAAP) basis, as the company cannot predict some elements that are included in reported GAAP results, including the impact of foreign exchange.
For 2023, the company expects Organic Net Revenue growth of 5-7%, high single-digit Adjusted EPS growth on a constant currency basis and Free Cash Flow of $3.3+ billion. The company estimates currency translation would decrease 2023 net revenue growth by approximately 1% with a negative $0.04 impact to Adjusted EPS4.
Outlook is provided in the context of greater than usual volatility as a result of COVID-19 and geopolitical uncertainty.
See the full list of 2022 sales results here.