Nestle 2020 Net Profit Fell; Sees Organic Growth Improvement
February 18 2021 - 2:16AM
Dow Jones News
By Giulia Petroni
Nestle SA said Thursday that 2020 net profit fell while sales
rose organically and that it expects continued improvement in
organic growth and profitability.
The Swiss food-and-beverage company said net profit for the year
was 12.23 billion Swiss francs ($13.65 billion) compared with
CHF12.61 billion the previous year.
Sales decreased on year to CHF84.34 billion. Organic growth
reached 3.6%, supported by strong momentum in the Americas as well
as Purina PetCare and Nestle Health Science.
Analysts had forecast net profit of CHF11.97 billion and sales
of CHF84.78 billion, according to a company-compiled consensus.
Looking at the current year, Nestle said it expects a continued
increase in organic sales growth toward a mid single-digit rate and
continued, moderate improvement in underlying trading operating
profit margin. It sees an increase in underlying earnings per share
at constant currency and capital efficiency, the company said.
In the mid term, it expects sustained mid single-digit sales
growth.
Nestle said its board of directors will propose a dividend of
CHF2.75 a share, an increase of 5 centimes, at the annual general
meeting scheduled for April 15.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 18, 2021 02:01 ET (07:01 GMT)
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