10/17/2019, 7:20 AM (Source: TeleTrader)
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Nestle posts revenue of €75B in 9M 2019, up 3% YoY

Nestle S.A. reported its total revenue increased 3% year-on-year to €75.24 billion in the first nine months of 2019. The net acquisitions of the Starbucks license and Atrium Innovations had a positive impact of 0.7% while foreign exchange reduced sales by 1.5%. The company said its organic growth reached 3.5%, supported by expansion in the United States and Brazil. Organic growth in developed markets was 2.7%, while growth in emerging markets stood at 5%.

Additionally, Nestle's board of directors announced a new share buyback program authorizing up to €22 billion in share repurchases from 2020 to 2022. The full-year guidance for 2019 was confirmed, with the food company expecting organic sales growth around 3.5%.

"We continue to see good momentum in our largest market, the United States and very strong growth for Purina PetCare globally. Nestle's growth was supported by investment behind our brands, rapid innovation, and disciplined execution. During the third quarter, the roll-out of Starbucks products continued, now reaching 34 countries. Our portfolio transformation is fully on track, as shown by the timely completion of the Nestle Skin Health disposal," company chief executive Mark Schneider said in the press release.

Baha Breaking the News (BBN) / MD