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Tag: CH:NESN

  • Nestle 9-Mos Sales CHF68.83B

    Nestle 9-Mos Sales CHF68.83B

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    By Giulia Petroni

    Nestle reported a 7.8% organic sales growth in the first nine months of the year driven by price increases amid high inflation levels, and backed its full-year outlook.
    

    The Swiss food and beverage giant said sales stood at 68.83 billion Swiss francs ($76.57 billion) in the period from CHF69.13 billion a year earlier, driven by pricing at 8.4%. Real internal growth was minus 0.6%, but the company said the recovery of volume and mix is underway.
    

    

    A company-compiled consensus estimate had forecast organic sales growth of 8.1%.
    

    Write to Giulia Petroni at giulia.petroni@wsj.com
    

    

    

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    Nestle Sells Peanut-Allergy Treatment Business to Stallergenes Greer
    
			
    Nestle Sells Peanut-Allergy Treatment Business to Stallergenes Greer
    
			
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    By Adria Calatayud
    

    Nestle said it has sold its Palforzia peanut-allergy treatment business to biopharmaceutical company Stallergenes Greer.
    

    The Swiss consumer-goods company said Monday that it will receive milestone payments and royalties from Stallergenes Greer. The deal was closed upon signing, Nestle said.
    

    

    The sale allows Nestle’s health-science operations to focus on its core strengths and key growth drivers, the unit’s Chief Executive Greg Behar said.
    

    Nestle last year said that it would conduct a strategic review of Palforzia after a slower-than-expected adoption by patients and healthcare professionals.
    

    Write to Adria Calatayud at adria.calatayud@dowjones.com
    

    

    

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    Nestle Names New CFO
    
			
    Nestle Names New CFO
    
			
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    By Mauro Orru
    

    Nestle appointed Anna Manz from the London Stock Exchange Group to succeed Francois-Xavier Roger as chief financial officer after he decided to step down in pursuit of new professional challenges.
    

    The Swiss packaged-foods giant said Tuesday that Manz would take over as soon as she is released from her present duties as chief financial officer and board member at the London Stock Exchange Group. Roger will remain in place until then, Nestle said.
    

    

    “Anna has spent her career growing businesses and improving operational efficiencies,” said Chief Executive Mark Schneider. “Her deep knowledge of the consumer goods industry, combined with her extensive experience across many corporate functions, make her uniquely positioned to help lead Nestle into its next phase of value creation.”
    

    Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
    

    

    

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    Nestle lifts guidances, confirms plan to buy back $21 billion shares over 2022-24
    
			
    Nestle lifts guidances, confirms plan to buy back $21 billion shares over 2022-24
    
			
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    Nestle SA has lifted its full-year organic sales-growth guidance and outlined targets for 2025 ahead of its investor seminar on Tuesday.
    

    The Swiss packaged-foods giant
    
        NSRGY,
    
        +0.11%
    

            NESN,
    
        -0.26%
    
       said it now expects sales to grow organically between 8% and 8.5% from previous expectations of around 8%. The underlying trading operating profit margin is still seen at around 17%.
    

    

    By 2025, it expects to return to an underlying trading operating profit margin in the range of 17.5% to 18.5%, following the margin impact of cost inflation in 2021 and 2022.
    

    Annual underlying earnings-per-share growth is seen between 6% and 10% in constant currency over the 2022-25 period, Nestle said. The company aims for free cash flow toward 12% of sales, and return on invested capital of 15% by 2025.
    

    In terms of portfolio management, it said it will explore strategic options for peanut allergy treatment Palforzia, following slower than expected adoption by patients and heathcare professionals. The review should be completed in the first half of next year.
    

    Nestle said the health-science business will focus more on consumer care and medical nutrition.
    

    The company confirmed its program to repurchase 20 billion Swiss francs ($21.14 billion) of its shares between 2022 and 2024 and said it aims to keep increasing its dividend year on year.
    

    Write to Giulia Petroni at giulia.petroni@wsj.com
    

    

    

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