Snack giant Mondelēz has reported a 2.8 percent dip in quarterly revenue, falling to $6.77 billion in the fourth quarter ended Dec. 31, due to weakness in its international business, which accounts for nearly three-fourths of overall sales.
Revenue slipped across its three main divisions: Asia, Middle East and Africa (AMEA), Europe and Latin America.
Overall organic sales, which exclude the impact from acquisitions and currency fluctuations, rose 2.5 percent in the final quarter of 2018, helped by the introduction of healthier snacks.
Net earnings attributable to the company rose to $823 million, from $695 million a year earlier.
“Our fourth quarter and full-year 2018 results demonstrate the power of our brands, the strength of our global footprint and the potential of our strategic plan,” said Dirk Van de Put, Chairman and CEO on Wednesday.
“We delivered on our key financial and strategic commitments for the year, including solid top-line and bottom-line growth and strong cash flow generation. In 2019, we will continue to progress against our new strategy, which includes new investments to drive organic revenue growth and operational excellence across the organization.”
Van de Put told CNBC that consumers will be paying a little bit more for snack items to match rising commodity costs.