Nestle reports FY23 sales CHF 93B vs. CHF 94.4B last year

The underlying trading operating profit margin was 17.3%, increasing by 20 basis points on a reported basis and by 40 basis points in constant currency. Organic growth reached 7.2%, with pricing of 7.5% and real internal growth of -0.3%. Underlying earnings per share increased by 8.4% in constant currency and by 0.1% on a reported basis to CHF 4.80. Earnings per share increased by 23.7% to CHF 4.24 on a reported basis, mainly reflecting one-off items in the prior year. Mark Schneider, Nestle CEO, commented: “Unprecedented inflation over the last two years has increased pressure on many consumers and impacted demand for food and beverage products. In this challenging context, we delivered strong organic growth and solid margin improvement with increased marketing and other growth investments. Our free cash flow generation returned to historical levels.”