food company Nestle (NESN.VX) has issued a statement today saying they expect another challenging year ahead amidst emerging market slowdowns.
In 2013 Nestlé’s sales increased by 2.7% to CHF 92.2 billion, impacted by negative foreign exchange of 3.7%. Organic growth was 4.6%, composed of 3.1% real internal growth and 1.5% pricing. Acquisitions, net of divestitures, added 1.8% to sales.
The company reported a drop is net profit of CHF 10billion, missing analysts estimates, saying this was due to restructuring costs and exchange rate fluctuations.
Commenting on its outlook in full year results release the company said “Last year was challenging and 2014 will likely be the same. We will continue to be disciplined in driving our performance in line with the Nestlé Model of profitable growth and resource efficiency. We therefore expect our 2014 performance to be similar to last year and again weighted to the second half, outperforming the market, with growth around 5% and improvements in margins, underlying earnings per share in constant currencies and capital efficiency.”
food company Nestle (NESN.VX) has issued a statement today saying they expect another challenging year ahead amidst emerging market slowdowns.
In 2013 Nestlé’s sales increased by 2.7% to CHF 92.2 billion, impacted by negative foreign exchange of 3.7%. Organic growth was 4.6%, composed of 3.1% real internal growth and 1.5% pricing. Acquisitions, net of divestitures, added 1.8% to sales.
The company reported a drop is net profit of CHF 10billion, missing analysts estimates, saying this was due to restructuring costs and exchange rate fluctuations.
Commenting on its outlook in full year results release the company said “Last year was challenging and 2014 will likely be the same. We will continue to be disciplined in driving our performance in line with the Nestlé Model of profitable growth and resource efficiency. We therefore expect our 2014 performance to be similar to last year and again weighted to the second half, outperforming the market, with growth around 5% and improvements in margins, underlying earnings per share in constant currencies and capital efficiency.”
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