Mondelēz International will today reiterate its 2019 financial outlook and long-term growth targets at the 2019 Consumer Analyst Group of New York (CAGNY) Conference. Chairman and Chief Executive Officer Dirk Van de Put, together with Chief Financial Officer Luca Zaramella, will provide an update on the growth strategy introduced at the company’s Investor Day in September 2018.
“We have a unique combination of structural advantages and a strategic plan that positions us to lead the future of snacking,” said Van de Put. “I’m encouraged by early results as we implement our new strategy, which enabled us to meet or exceed our financial commitments in 2018.”
“We have entered 2019 with strong momentum, a new commercial structure that is closer to the consumer and clear investment priorities to accelerate growth. Our exceptional people are focused on executing across our three strategic priorities: accelerating growth by becoming consumer-centric in everything we do, driving operational excellence in all areas of our business and building a winning growth culture.”
Leading the Future of Snacking
At the conference, Van de Put will reiterate the company’s mission to lead the future of snacking, an attractive fast-growing market distinct from broader food, which is seeing strong growth across the globe and driving approximately $1.2 trillion in annual consumer spending.
Van de Put will outline the company’s unique structural advantages that enable it to win in snacking. These advantages include leadership positions in high growth categories, powerful global brands and local jewels, a global footprint with scale across geographies, a strong value-chain, and a committed group of talented people.
Van de Put will reiterate the company’s strategic plan to drive accelerated top-line growth by adopting a new, more consumer-centric commercial approach that aims to increase demand for Mondelēz International products, deliver operational excellence across the value chain, and build a winning growth culture in which local commercial teams are aligned in mission, approach and incentives.
Reiterating 2019 Outlook and Long-Term Growth Targets
Mondelēz International reiterated its 2019 outlook, as well as long-term growth targets for:
- Organic Net Revenue1 growth of 3 percent plus;
- High-single digit Adjusted EPS1 growth at constant currency;
- Free Cash Flow1 of $3 billion plus; and
- Dividend growth outpacing Adjusted EPS growth.
“Our financial results in 2018 demonstrate the power of our portfolio and operational capabilities,” said Zaramella. “We are pleased with our momentum and we enter 2019 focused on executing on our new strategic plan and financial targets. We continue to expect an acceleration of top-line growth, productivity gains and strong free cash flow generation in the years ahead.”
1. Organic Net Revenue, Adjusted EPS, Free Cash Flow and presentation of amounts at constant currency are non-GAAP financial measures. For definitions of these non-GAAP financial measures and how the company uses them to evaluate performance, please refer to “Definitions of the Company’s Non-GAAP Financial Measures” in Exhibit 99.1 to the company’s Form 8-K furnished with the Securities and Exchange Commission on January 30, 2019.
