Confectionery company Mondelez has posted strong fourth-quarter results, with net revenues increasing by 3.1 per cent.
The company’s organic net revenue grew 5.2 per cent, with incremental net revenue from the acquisition of Evirth partially offset by unfavourable currency-related items and lapping prior-year sales from a short-term distributor agreement related to the developed market gum business divested in 2023.
For the full year, Mondelez’s net revenues increased by 1.2 per cent, while organic net revenue increased by 4.3 per cent.
“Fiscal 2024 was another strong year of performance for our company,” said Dirk Van de Put, chair and CEO. “We delivered balanced top-line growth, strong earnings, and robust free cash flow generation, while returning significant capital back to shareholders.”
In FY25, the company expects organic net revenue growth of around 5 per cent, while continuing to focus on executing against its long-term growth plan and delivering on its chocolate business playbook to navigate extraordinary cocoa cost escalation.
“Our teams are well-equipped to stay agile and take the necessary actions to navigate this challenging operating environment. We believe we are solidly positioned for attractive long-term top-and bottom-line growth,” added Van de Put.
In December, Mondelez was reportedly in talks to acquire The Hershey Company, a deal that would create one of the world’s largest confectionery companies.
