2/16/2023, 7:18 AM (Source: TeleTrader)
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Nestle's total 2022 sales up by 8.4% to CHF 94.4B

Nestle SA announced on Thursday that its total sales in the fiscal year 2022 observed an annual rise of 8.4% to hit 94.4 billion Swiss francs, or approximately $102.8 billion. Organic growth reached 8.3% and was broad-based across most regions and business categories.

Meanwhile, Nestle's underlying earnings per share (EPS) increased by 8.4% on a reported basis compared to the previous year to 4.80 Swiss francs per share, or about $5.20, which the company contributed to the disposal of L'Oreal's shares. For 2023, the conglomerate predicted its organic growth will be between 6% and 8%, and underlying trading operating profit margin to go up by between 17.0% and 17.5%

"Looking to 2023, we expect another year of robust organic growth, with a focus on restoring our gross margin, stepping up marketing investments and increasing free cash flow," Chief Executive Officer (CEO) Mark Schneider commented.

Baha Breaking News (BBN) / JR