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Nestlé posted an attributable net profit of €11,775 million in 2023, representing growth of 20.9% due to factors such as lower reported taxes and higher associate revenues.
However, all this represents an economic decline of 1.5% compared to 2022, despite the fact that organic sales have grown by 7.2%. According to the multinational, this fluctuation is due to the 7.8% reduction in sales as a result of foreign exchange; with a parallel net disinvestment having a negative impact of 0.9%. Prices, on the other hand, grew by 7.5% during the last year.
Focusing on variations by geographical area, sales in North America fell by 1.3% to 25,995 million Swiss francs (27,274 million euros), while in Europe they fell by 0.2% to 19,098 million francs (20,037 million euros).
In Asia, Oceania and Sub-Saharan Africa, sales fell by 5.2% to 17,519 million Swiss francs (18,381 million euros), while in Latin America they rose by 3.2% to 12,196 million Swiss francs (12,796 million euros). Lastly, in the Greater China zone, they amounted to 5,037 million francs (5,285 million euros), down 5.9%.
Nestlé’s future
Looking ahead to 2024, the company expects organic sales growth of close to 4% and underlying earnings per share in constant currency to increase by 6% to 10%, prioritizing volume-driven growth and product innovation and renovation.
Similarly, the food firm confirms medium-term targets for 2025: mid-single-digit organic sales growth and an underlying commercial operating profit margin of 17.5% to 18.5% by that year.
