Nestlé: strong performance of KitKat and seasonal products

 

Foreign exchange decreased sales by 6.7%. Net divestitures had a negative impact of 0.6%, according to the press release. Overall, the Group`s organic sales growth was driven by Europe and the emerging markets, whereas North America had a negative impact on growth.

Organic growth was 1.4%. Pricing was 3.4%, following a high base of comparison in 2023. Real internal growth (RIG) was - 2.0%, impacted by soft consumer demand, particularly in North America, and the temporary supply constraints for vitamins, minerals, and supplements.

In the confectionery business, Nestlé achieved sales of CHF 2.043 bn in the first quarter of 2024 (3M-2023: CHF 2.030 bn), driven by a strong performance of the KitKat brand and seasonal products. Organic growth in this product category was 6.3%. The Group put price adjustments at 5.9% and RIG at 0.4%.