Mondelēz International, the owner of the Cadbury and Oreo brands, has posted better-than-expected first-quarter figures as demand for its biscuits and chocolates in Asia and Europe remained high.
Snack makers have experienced a surge in sales during the pandemic as consumers stuck at home sought comfort in familiar brands.
The group’s total net revenues rose 7.9% to $7.24bn, buoyed by the effects of favourable currency movements and acquisitions. On an organic basis, growth was 3.8%, with its Asia, Middle East & Africa division up 10.8%. Revenues in Europe grew 3.3%, but they were down 2.3% in North America.
Adjusted operating profits climbed 16.8% to $1.29bn after margin grew 1.4pp to 17.9%.
“Our first-quarter results demonstrate that we are emerging from the COVID-19 pandemic stronger, as we continue to build upon our track record of robust growth, profitability and cash generation,” said Dirk Van de Put, Chairman and Chief Executive Officer.
“We saw continued improvement across emerging markets, healthy demand in developed markets and another quarter of strong share performance. We remain squarely focused on accelerating growth by further strengthening our core brand and expanding our presence in high-growth channels, categories and adjacencies. Our strategy is working, and our business is better positioned than ever before.”
