DEERFIELD, Ill., July 30, 2015 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. today reported its second quarter 2015 results, reflecting strong Adjusted Operating Income margin expansion and Adjusted EPS growth on a constant currency basis, as well as solid Organic Net Revenue growth. In addition, the company increased its share repurchase authorization by $6.0 billion and extended the expiration by two years to December 31, 2018.
On a reported basis, net revenues were $7.7 billion, down 9.2 percent, including a negative 13.6 percentage point impact from currency. Operating income was $841 million, down 12.1 percent. Diluted EPS was $0.25, down $0.11.
Organic Net Revenue increased 4.3 percent, as the company raised prices to recover currency-driven input cost inflation. Volume/mix was unfavorable, largely due to price elasticity as well as strategic decisions to exit certain low-margin product lines. In addition, the shift of Easter-related shipments into the first quarter was a headwind of approximately 50 basis points. Power Brands2 grew 6.6 percent. Organic Net Revenue from emerging markets3 was up 9.7 percent, while developed markets4 increased 0.9 percent.
"Our strong second quarter results reflect continued execution of our transformation agenda," said Irene Rosenfeld, Chairman and CEO. "With the creation of the coffee joint venture now complete, our portfolio is focused even more on snacks. In addition, we're continuing to make excellent progress driving supply chain productivity and overhead cost reductions to deliver top-tier margin expansion and earnings growth. This provides additional fuel to step up investments in marketing, sales and capacity expansion to accelerate revenue growth and improve market share, both now and over the long term.” View the full report here.
