Nestle reports 1H revenue CHF 45.05B vs. CHF 46.29B last year

Organic growth of 2.1%, with positive real internal growth of 0.1% for the first half and 2.2% for the second quarter improving in all Zones and categories. Pricing of 2.0%. Foreign exchange decreased sales by 4.4%. Net divestitures had a negative impact of 0.4%. Earnings per share increased by 1.8% to CHF 2.16 on a reported basis. In constant currency, underlying earnings per share increased by 3.3% to CHF 2.51. Mark Schneider, Nestle CEO, commented: “Positive real internal growth is back. We delivered improved volume and mix growth across the Group in the second quarter. Nestle Health Science is recovering as planned and is set for a strong second half. Looking ahead to the remainder of the year, we will continue to drive RIG by launching innovations that address consumer trends andgrowing our large iconic brands. At the same time, we have seen pricing come down faster than expected. Therefore, we consider it prudent to adjust our guidance for the year, with organic sales growth now expected to be at least 3%.”