Mondelēz International will today discuss the company’s strategic
initiatives to deliver sustainable top- and bottom-line growth at
the 2020 Consumer Analyst Group of New York (CAGNY) Conference. The
company will also reiterate its 2020 financial outlook and
long-term growth targets. Chairman and Chief Executive Officer Dirk
Van de Put, together with Chief Financial Officer Luca Zaramella,
will provide an overview of the company’s strong financial results
and plans to drive long-term sales, earnings and free cash flow
growth.
“In the first full year following the launch of our
strategic plan, Mondelēz International delivered accelerated
top-line growth, robust earnings growth and improved free cash flow
generation, demonstrating the power of our portfolio and that our
strategy is working,” said Van de Put. “We are a fundamentally
different company now after the changes we’ve made to drive
sustainable growth. Increased investments in our global and local
brands and capabilities, combined with improved execution, position
us for continued performance.”
Building a Consumer-Centric, Growth-Focused
Organization
At the conference, Van de Put will highlight the
company's progress on building a consumer-centric, growth-focused
organization and culture.
Over the past 18 months Mondelēz International has
increased and rebalanced its investments in global and local
brands, transitioned to a focus on volume-driven, profitable growth
and moved from a centralized decision-making structure to a
local-first approach with clear accountability and aligned
incentives.
Local leaders are now empowered to capitalize on
consumer insights, increasing the company’s agility and improving
speed-to-market, with employees throughout the organization focused
on generating profitable growth.
Van de Put will outline how these changes have
supported increasing brand relevance with consumers, share gains in
core categories and a sustainable improvement in financial
results.
Van de Put will also provide an update on specific
initiatives the company is executing in 2020 within each strategic
focus area, as well as compelling growth opportunities the company
sees ahead.
Reiterating 2020 Outlook and Long-Term
Growth Targets
Mondelēz International reiterates its 2020 outlook,
as well as long-term growth targets for:
- Organic Net Revenue growth of 3 percent plus;
- High-single digit Adjusted EPS growth at constant
currency;
- Free Cash Flow of $3 billion plus; and
- Dividend growth outpacing Adjusted EPS growth.
“We are pleased with our performance in 2019,
including meeting or exceeding all of our financial targets,” said
Zaramella. “Going forward, we will continue to focus on driving
improved free-cash flow generation, an area where we already made
significant progress in 2019. Continued execution against our
strategy will enable us to consistently deliver results in line
with our long-term growth algorithm.”
Additional information on guidance, including any
impact of coronavirus, will be discussed at the 2020 CAGNY
Conference.
Webcast and Materials
A live audio webcast of today's presentation will
be available in the investors section of the company's website
(www.mondelezinternational.com), and an archived replay of the
presentation with accompanying slides will be available on the
website following the webcast. The company is live tweeting from
the event at www.twitter.com/MDLZ.
About Mondelēz International
Mondelēz International, Inc. (NASDAQ: MDLZ)
empowers people to snack right in over 150 countries around the
world. With 2019 net revenues of approximately $26 billion, MDLZ is
leading the future of snacking with iconic global and local brands
such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka
and Toblerone chocolate; Sour Patch Kids candy and Trident gum.
Mondelēz International is a proud member of the Standard and Poor’s
500, Nasdaq 100 and Dow Jones Sustainability Index. Visit
www.mondelezinternational.com or follow the company on Twitter at
www.twitter.com/MDLZ.
End Note
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, as
well as why the company is not able to reconcile these
forward-looking measures to their most directly comparable GAAP
financial measures, please refer to "Definitions of the Company's
Non-GAAP Financial Measures" and “Outlook” in Exhibit 99.1 to the
company's Form 8-K furnished with the Securities and Exchange
Commission on January 29, 2020.
Forward-Looking Statements
This press release contains a number of
forward-looking statements. Words, and variations of words, such as
“will,” “expect,” “plan,” “deliver,” “target,” “outlook” and
similar expressions are intended to identify the company’s
forward-looking statements, including, but not limited to,
statements about: the company’s future performance, including its
future revenue growth, earnings per share and cash flow; the
company's strategic initiatives and growth opportunities; the
company’s investments and execution; dividends; the company’s
long-term financial targets; and the company’s outlook, including
2020 Organic Net Revenue growth, Adjusted EPS growth and Free Cash
Flow. These forward-looking statements are subject to a number of
risks and uncertainties, many of which are beyond the company’s
control, which could cause the company’s actual results to differ
materially from those indicated in the company’s forward-looking
statements. Such factors include, but are not limited to, risks
from operating globally including in emerging markets; changes in
currency exchange rates, controls and restrictions; continued
volatility of commodity and other input costs; weakness in economic
conditions; weakness in consumer spending; pricing actions; tax
matters including changes in tax rates and laws, disagreements with
taxing authorities and imposition of new taxes; use of information
technology and third party service providers; unanticipated
disruptions to the company’s business, such as the malware
incident, cyberattacks or other security breaches; competition;
protection of the company's reputation and brand image; the
company's ability to innovate and differentiate its products;
legal, regulatory, tax or benefit law changes, claims or actions;
the restructuring program and the company’s other transformation
initiatives not yielding the anticipated benefits; and changes in
the assumptions on which the restructuring program is based. Please
also see the company’s risk factors, as they may be amended from
time to time, set forth in its filings with the SEC, including the
company’s most recently filed Annual Report on Form 10-K. Mondelēz
International disclaims and does not undertake any obligation to
update or revise any forward-looking statement in this press
release, except as required by applicable law or regulation.
Contacts: |
Tom Armitage (Media) |
Shep Dunlap (Investors) |
|
+1-847-943-5678 |
+1-847-943-5454 |
|
news@mdlz.com |
ir@mdlz.com |
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