- Net revenues increased +12.4% driven by organic net revenue growth of +6.2%, favorable currency and acquisitions.
- Diluted EPS was $0.76, up +100%; adjusted EPS1 was $0.66, up +1.6% on a constant-currency basis.
- Returned $2.4 billion of capital to shareholders in the first half.
- Announced agreement to acquire Chipita, a leading cakes and pastries company in Europe.
- Announcing +11% increase to quarterly dividend.
- Year-to-date cash provided by operating activities was $1.8 billion, an increase of +$0.2 billion versus prior year; year-to-date free cash flow was $1.4 billion, an increase of +$0.3 billion.
- Raised organic net revenue growth outlook for full year to 4%+.
Mondelēz International Inc.'s revenues increased 12.4% were driven by organic get revenue growth of 6.2%, favorable currency, and incremental sales from the company's acquisitions of Hu, Grenade and Gourmet Food. Volume and pricing drove organic net revenue growth, partially offset by unfavorable mix.
Gross profit increased $300 million, while gross profit margin increased 20 basis points to 39.6 percent primarily driven by the increase in adjusted gross profit margin. Adjusted gross profit increased $168 million at constant currency, while adjusted gross profit margin increased 20 basis points to 39.9% due to pricing and manufacturing productivity, partially offset by higher raw material costs and unfavorable product mix.
"We delivered another strong quarter of performance across all key metrics, including top-line, profitability and cash generation," said Mondelēz International chairman and chief executive Dirk Van de Put. "We continue to see strength across the vast majority of our geographies, categories and brands as we remain intensely focused on consistent execution and reinvestment to further strengthen our position. We are confident that our strategy, long runway of clear growth drivers and advantaged enablers will continue to drive consistent and attractive growth and value generation over the long term.”