Mondelez International: net revenues up and strong market share performance

Mondelez International, Inc. reported 2013 results, in line with recent expectations. According to the company, net revenues were USD 35.3 bn, up 0.8%. Operating income increased 9.2% to USD 4.0 bn, while operating income margin was 11.2%. Diluted EPS was USD 2.19, including USD 0.90 from discontinued operations reflecting the net gain from the resolution of the Starbucks arbitration. Organic net revenues increased 3.9%, driven by strong volume/mix of 3.4 percentage points as well as favourable pricing of 0.5 percentage points. Lower coffee revenues, reflecting the pass-through of lower green coffee costs, tempered growth by 0.8 percentage points.

Market share performance was strong with nearly 70% of revenues gaining or holding share. Revenues from emerging markets were up 8.8%, led by a nearly 10% gain in the BRIC markets. Developed markets increased 0.8% as growth in North America and Europe was partially offset by a mid-single digit decline in Asia Pacific. Power Brands grew 6.5%. Oreo, Tuc, Club Social, belVita and Barni biscuits, Cadbury Dairy Milk and Lacta chocolate and Tassimo coffee each posted double-digit increases.

www.mondelezinternational.com