2/18/2021, 7:18 AM (Source: TeleTrader)
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Nestle sales fall 8.9% to 84.3B Swiss francs in 2020

Nestle sales fell 8.9% year on year to 84.3 billion Swiss francs in the full year 2020, the company announced on Thursday. Adjusted for the integration of the integrate the Nestlé Waters business into the group's three geographical zones, sales were at 92.6 billion Swiss francs in 2020. Net profit in 2020 declined by 3% to 12.2 billion Swiss francs while earnings per share were unchanged year on year at 4.30 Swiss francs.

Organic growth was 3.6% and real internal growth was 3.2% in 2020. Strong sales in the Americas region, as well as the Purina PetCare and Nestle Health Science, contributed most to the growth. The underlying trading operating profit (UTOP) margin reached 17.7%, increasing 10 basis points on a reported basis, Nestle added.

"The global pandemic did not slow us down. Our nutrition expertise, digital capabilities, decentralized structure and innovation engine allowed us to adapt quickly to changing consumer behaviors and trends. We advanced our portfolio transformation, continued to build Nestlé Health Science into a nutrition powerhouse and expanded our presence in direct-to-consumer businesses. At the same time, we remained focused on sustainability and set out our path to achieve net-zero greenhouse gas emissions by 2050. This journey is expected to support future growth and be earnings neutral – it will generate value for society and our shareholders," CEO Mark Schneider said.

Baha Breaking News (BBN) / VP