Q1 2024 RESULTS
April 30, 2024
FORWARD-LOOKING STATEMENTS
This presentation contains forward-looking statements. All statements other than statements of historical fact are "forward-looking
statements" for purposes of federal and state securities laws. Words, and variations of words, such as "will," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "likely," "estimate," "anticipate," "objective," "predict," "project," "drive," "seek," "aim," "target," "potential," "commitment," "outlook," "continue," "goal" or any other similar words are intended to identify our forward-looking statements. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in these forward-looking statements. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation except as required by applicable law or regulation. In addition, historical, current and forward-lookingsustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. For important information on forward-looking statements, please see our earnings release for Q1 2024 on our investor website at https://www.mondelezinternational.com/investors.
NON-GAAP FINANCIAL MEASURES
All results shared with this presentation are non-GAAP unless noted as "reported", in which case we are referring to our results on a GAAP basis. Please see GAAP to non-GAAP reconciliations at the end of this presentation for comparable GAAP measures. Refer to the definitions of these measures in our earnings release for Q1 2024 located at https://www.mondelezinternational.com/investors in addition to the appendix on slide 24 of this presentation.
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AGENDA
- Business & Strategy Update - Van de Put
- Financial Outcomes - Zaramella
- 2024 Outlook - Zaramella
- Q&A - Van de Put & Zaramella
3
SOLID START TO THE YEAR WITH STRONG PROFIT DELIVERY
- Solid top-linegrowth with strong pricing execution
- Continued momentum in Emerging Markets
- Strong profit dollar growth from effective cost management and pricing
- Strong free cash flow generation of $1B
- Continued brand & capabilities investments
4
SOLID START TO THE YEAR WITH STRONG PROFIT DELIVERY
Organic Net | Adjusted Gross | A&C Change | Adjusted | Free Cash Flow |
Revenue Growth | Profit Growth1 | in Spend1 | EPS Growth1 | |
Q1 +4.2% +11.6% +HSD +16.3% $1.0B
2024 | Vol/Mix | -2.1pp |
Price | +6.3pp |
5 1 At cst FX
MDLZ CORE CATEGORIES CONTINUING TO DEMONSTRATE RESILIENCE
North America | Europe | Emerging Markets |
consumer confidence MIXED | consumer confidence STABLE | consumer confidence Strong |
Volume | Volume | Volume |
Change | Change | Change |
L3M | L3M | L3M |
-1.1% | +1.0% | +3.3% |
US Biscuits | Biscuits & Chocolate | Biscuits & Chocolate |
category1 | category2 | category3 |
- Volume declines, due to higher elasticities and declines in frequency
- Shift to Online, Club & Dollar
- Increased promo intensity
- Volume growth has slowed, but holding better than broader FMCG
- Optimism about economic outlook
- Higher elasticities & shift to smaller pack-sizes
- Resilient demand & low elasticities, but sensitive on price points
- Strong preference continues for branded products
- Growth of premium offers
1 NielseniQ, NA Cookies & Crackers Volume Data, L3M as per April 26 2024, NR weighted
6 2 NielseniQ, Europe Snacking Monitor (17 countries), Biscuits + Chocolate Category Volume Data, L3M as per April 26 2024, NR weighted;
3 NielseniQ, Key Emerging Markets (20 countries), Biscuits + Chocolate Category Volume Data, L3M as per April 26 2024, NR weighted; China scanner data excluded due to significant channel shifts - tracked and non-tracked channels for China netting to a total volume growth of +LSD in L3M
FOCUS AND ACCELERATE OUR STRATEGIC GROWTH AGENDA
Scale sustainable
snacking
Drive M&A
Expand
distribution
Reinvest
into brands
2050 net-zero | |||||||||
Ricolino | targets | ||||||||
validated by SBTi | |||||||||
+100k stores | ERP system | ||||||||
integration in Q1 | |||||||||
200 years | added in | ||||||||
emerging markets | |||||||||
Cadbury UK | in Q11 |
7 1 Internal Sales & Distribution data; directly serviced stores; YTD March 31 2024
STRONG, RESILIENT AND AGILE CHOCOLATE BUSINESS
Chocolate category is growing volume
despite significant pricing
Chocolate Category Growth1
Structurally advantaged
with large growth opportunities
High | Low |
private | |
brand | |
+3.9% +4.7%
+8.3%
+5.6%
+14.3%+14.1%
+7.3%
loyalty | label | Large EM |
opportunity | ||
Iconic | ||
brand | Big premium/ | |
portfolio | ||
seasonal | ||
opportunity | ||
Playing for | ||
LT growth |
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 24'YTD |
Volume | Price |
8 1 Category growth based on Nielsen Global Data, as of April 26 2024 for measured channels in key markets where the company competes. Category growth data for some Emerging Markets has been substituted with MDLZ revenue growth data due to data availability issues (e.g. India).
AGENDA
- Business & Strategy Update - Van de Put
- Financial Outcomes - Zaramella
- 2024 Outlook - Zaramella
- Q&A - Van de Put & Zaramella
9
SOLID TOP-LINE GROWTH WITH STRONG PRICING EXECUTION IN Q1
Total MDLZ | ||
Organic Net Revenue Growth | Emerging Markets | Developed Markets |
39% of Total MDLZ Revenue1 | 61% of Total MDLZ Revenue1 | |
Q1 2024 | Q1 2024 | Q1 2024 |
+4.2% +8.3%+1.4%
Vol/Mix | Vol/Mix | Vol/Mix |
-2.1% | +0.1% | -3.6% |
10 | 1 FY23 net revenues; 2 +7.8% ex-Argentina |
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Mondelez International Inc. published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 09:09:25 UTC.