Mondelēz International Reports Q4, FY 2019 Results

Jan. 30, 2020
Mondelēz International, Inc.
Mondelez 5e209abf602dd

January 29, 2020 at 4:05 PM EST

Full Year Highlights

  • Net revenues declined 0.3% driven by unfavorable currency impacts; Organic Net Revenue1 grew 4.1% with balanced volume/mix and pricing
  • Diluted EPS was $2.65, up 16%; Adjusted EPS1 was $2.47, up 8% on a constant-currency basis
  • Cash from operating activities was $4.0 billion, increasing $17 million versus prior year; Free Cash Flow1 was $3.0 billion, increasing $187 million versus prior year
  • Return of capital to shareholders was $3.0 billion
  • Net revenues increased 2.1% driven by Organic Net Revenue growth of 4.1% partially offset by unfavorable currency impacts
  • Diluted EPS was $0.50, down 10.7%; Adjusted EPS was $0.61, flat on a constant-currency basis
  • Global Brands & Local Jewels: accelerated an already strong Global Brands growth rate and transformed the Local Jewels growth rate, now at close to category levels. Overall, strongest market share performance since inception of the company, holding or increasing share in approximately 75% of our revenue base2
  • Growth Markets & Channels: strong progress in fastest growing channels in developed markets including Europe discounters and biscuits in North America alternative channels; laid foundations for sustained future growth in key emerging markets like China, India and Russia
  • Everyday Executional Excellence: demonstrated best-in-class commercial execution including exceptional seasonal activation at Easter, Christmas and holidays around the world
  • Continuous Cost Improvement: delivered productivity savings across the business through cost discipline, strategic investment and operational excellence in procurement
  • Local-First Culture: created a local-first ecosystem with clearer accountability and focused incentives better aligned to the company's growth strategy
  • Speed, Agility and Simplicity: brought innovations to market quicker through simplified processes and agile ways of working.

Fourth Quarter Highlights

DEERFIELD, Ill., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ: MDLZ) today reported its fourth quarter 2019 results.  

"2019 was a major step forward for the company: Execution of our strategy, including investments in global and local brands, enabled us to deliver strong top-line performance and to meet or exceed all of our financial targets. We are increasingly confident that our incremental investments in brands and capabilities, emphasis on volume leverage and profit dollar growth will create a virtuous cycle that consistently delivers attractive top- and bottom- line growth and sustained free cash flow generation," said Dirk Van de Put, Chairman and CEO.

Management Changes

Gustavo Valle joins the company as President, Latin America, effective February 1, 2020. Gustavo has more than three decades of leadership experience across Latin America, North America and Europe. In more than 20 years at Danone, he held a breadth of positions and most recently led the global dairy division, having previously delivered business turnaround and managed through volatility as CEO Brazil and CEO Argentina.

Key Strategic Initiatives

The company made strong progress against the strategies of accelerating consumer-centric growth, driving operational excellence and building a winning growth culture in 2019. Some highlights included:

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