Latest news with #DirkVanDePut
Time of India
8 hours ago
- Business
- Time of India
IT layoffs, short summer and city slump weigh on India's consumption
India remains a major driver of growth for global consumer companies, but consumption was slightly uneven in the June quarter, with urban markets weighing on performance. Not all city pockets saw a strong demand rise, and early rains dampened summer sales. CEOs of several global consumer goods companies pointed to softer consumer confidence and a sputtering growth trend in recent earnings updates, ToI reported. Dirk Van De Put, chair and CEO at Mondelez International , maker of Cadbury chocolates, told ToI that in emerging markets such as India, Brazil and Mexico, consumers are 'worried' about their personal finances and job security, even though the company gained market share in India during the quarter. 'Consumer confidence is softer in these markets... but emerging markets continue to be an attractive growth engine for us,' Van De Put said. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program For Colgate-Palmolive , India had a tough quarter due to 'sluggishness in the urban class of trade.' CEO Noel Wallace said the company's India team needs to address urban markets more effectively. Colgate is relaunching the Colgate Total line in India, focusing on entry price points and increasing premium offerings. 'We're not pleased really with the performance we had in India, but we feel good about where we're headed in the back half (later part of the year). We have some higher-end premium innovation coming through the back half and into 2026,' Wallace told investors. The company is also addressing the ₹10 price point in India. The Indian arm reported a year-on-year drop in net sales and profits in Q1. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 32 Most Beautiful Women In The World Undo Urban market consumption has been weak for several quarters. While there are signs of recovery, a full revival across city markets has yet to be seen. Tax breaks, lower food inflation and interest rates have put some extra money in consumers' hands, but recovery has been gradual and urban markets still lag rural demand. Job uncertainties and layoffs in the IT sector, which employs a large share of the middle class, present further challenges and could slow the recovery. Beverage giants Coca-Cola and PepsiCo were hit by a shorter summer season in the June quarter. Coca-Cola's consolidated unit case volume fell 1%, dragged down by declines in India, where a brief border tension with Pakistan also hurt consumer sentiment, as well as in Mexico and Thailand. PepsiCo's beverage business in India also saw a drop in unit volume, though its convenient foods business performed well. Live Events Procter & Gamble said that growth trends in its emerging markets business have been mixed. Turkey has returned to 17% organic sales growth, India is growing at 5%, and the Middle East remains challenging.
Time of India
a day ago
- Business
- Time of India
Coke to Colgate: Global companies see uneven India growth
MUMBAI: India is a big driver of growth but consumption has been slightly uneven in the June quarter - blame the urban markets where not all pockets are seeing a healthy demand uptick and partly the early rains which took the fizz out of summer sales. Consumer confidence is soft and growth has somewhat sputtered - this was the broad market outlook, called out by CEOs of global consumer giants in recent earnings. Dirk Van De Put, chair and CEO at Mondelez International, maker of Cadbury chocolates, said that in emerging markets such as India, Brazil and Mexico, consumers are "worried" about their personal finances and job security even as the firm gained market share in India during the quarter. "Consumer confidence is softer in these emerging markets continue to be an attractive growth engine for us," Put said. For Colgate-Palmolive, India has rather had a tough quarter on the back of "sluggishness in the urban class of trade." CEO Noel Wallace has the job cut out for the India team - getting the urban markets right and executing more effectively there. The company, Wallace said, is relaunching the Colgate Total line in the market, focusing on entry price points and ramping up premiumisation. "We're not pleased really with the performance we had in India, but we feel good about where we're headed in the back half (later part of the year). We have some higher-end premium innovation coming through the back half and into 2026," Wallace told investors. Colgate is also addressing the Rs 10 price point in India, the CEO said. The Indian unit of the company reported a YoY drop in net sales and profits in Q1. Consumption in urban markets had been sluggish over the past several quarters; there have been some signs of recovery but all companies are yet to see a full revival across urban regions. Even as tax breaks, lower food inflation, and interest rates have put some money in the hands of consumers, recovery has been only gradual and urban continues to lag rural markets. Job uncertainties and layoffs in the IT sector, which employs a large share of the middle class, pose fresh challenge for the sector, risking a slowdown of the revival process. Beverage giants Coca-Cola and PepsiCo felt the heat of short summers in June quarter. Coke's consolidated unit case volume declined 1%, weighed down by declines in India where a brief border tension with Pakistan also impacted consumer sentiment, alongside Mexico and Thailand. PepsiCo reported a decline in unit volume for its beverage business in India even as the convenient foods business fared well. P&G said that growth trends in its enterprise (emerging) markets have been varied. While Turkey has returned to a 17% organic sales growth, India is still growing at 5% and Middle East remains challenging. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Associated Press
16-07-2025
- Business
- Associated Press
Mondelēz 2024 Snacking Made Right Report: Executive Letters
A letter from Dirk Van de PutChair & Chief Executive Officer, Mondelēz International A flaky croissant to accompany your morning coffee. A crispy biscuit for a mid-day break. A delicious bite of chocolate to wind down your evening. All over the world, snacking remains an important part of people's lives – a dependable constant in an everchanging world. At Mondelēz International, we're honored that consumers welcome our iconic chocolate, biscuit, and baked snack brands into their homes – and we are playing our part in our aim to have a positive impact on people and our planet. Like many other companies, we're closely tracking and planning around a dynamic operating environment. Against a backdrop of continued market and geopolitical uncertainty, stubborn inflation, and record input costs for key ingredients like cocoa, our Values and Purpose continue to guide us. Our more than 90,000 colleagues around the world remain committed to empowering people to snack right – by providing the right snack, for the right moment, made the right way.(1) Accordingly, we continue to prioritize Sustainability as the fourth pillar in our long-term Strategy – alongside Growth, Execution and Culture. We continue to believe that helping to drive positive change at scale across the communities our business touches is an integral part of value creation. Simply put, we believe that more sustainable business is, and always will be, good business. At the same time, we recognize that analysts, policy makers, and other stakeholders around the world are evolving their expectations, standards, and guidelines for sustainability reporting. As we navigate a broad range of perspectives, we continue to share our progress through this annual Snacking Made Right Report. I'm pleased to share that we are making meaningful progress toward our goals, and I encourage you to learn more in the following pages, including reviewing our full-year 2024 sustainability data. I'm proud of our team for staying focused and agile in challenging times. The progress detailed in this report would not be possible without our dedicated and passionate people; our strong partnerships with suppliers, customers, and non-governmental organizations (NGOs); and our multiple collaborations with industry coalitions, including the Consumer Goods Forum (CGF) and the World Cocoa Foundation (WCF). As we progress in 2025, we remain focused on executing with excellence against our long-term growth strategy, including continuing to invest in our focused approach to creating a more sustainable business at scale. Our team is at its best when we are united and clear about what we need to do. With the right strategy, the right brands, the right geographic footprint, and the right people – I'm confident that we remain solidly positioned for long-term, sustainable growth. A letter from Christine Montenegro McGrathChief Impact & Sustainability Officer, Mondelēz International Since our inception as a Company, we have set measurable goals for advancing more sustainable business practices, focused on where we believe we can have the biggest impact at scale. We have clear roadmaps and strong execution plans – and we remain confident in our ability to make progress against the goals we set. While numerous stakeholders express changing points of view about the best way to define and evaluate sustainability programs and goals, I'm proud of the consistency of our approach. And I'm proud of the strong progress we continue to achieve against our sustainability goals in 2024, as a result. A few highlights: We believe that driving against these and other sustainability goals – detailed in the coming pages – is a supporting driver to enabling our long-term growth, accelerating our leadership position in snacking, and advancing a business that will remain resilient for many years to come. At the heart of our efforts lies the winning growth culture we continue to create in support of our people. Ever humble, but determined, we remain focused on making an impact where we think people and our planet need it most, and I am encouraged by the results of this focus resulting in the 2024 progress made against our goals. The world is changing rapidly, demanding that we change with it. We continue to adapt while remaining focused on investing in our growth strategy – regularly re-examining our plans and roadmaps in light of a challenging, dynamic environment. Now is the time to stay focused, keep going, and act in line with our Purpose, Mission and Values: Focusing on collaboration across all stakeholders remains at the heart of our sustainability strategy. I'm grateful to work alongside talented, dedicated teams at Mondelēz International, as well as passionate partners in the supplier, customer and NGO communities. I'm proud of the opportunity to learn from each other, challenge ourselves, and co-create impactful solutions. Together, I'm confident that we will continue to deliver sustainable business growth and long-term value for our many stakeholders. View the full 2024 Snacking Made Right Report. (1) 2024 reported information as of December 31, 2024. (2) Goal and reported information for cocoa volume sourced is based on a mass balance approach, which means that the equivalent volume of cocoa needed for the products sold under our chocolate brands is sourced from the Cocoa Life program. Reported information for the period from January 1, 2024 to December 31, 2024 includes volumes from cocoa producing countries Brazil, Côte d'Ivoire, Ecuador, Ghana, Indonesia, India, and Nigeria unless otherwise stated (which differs from prior years). Excludes markets where Mondelēz International does not sell chocolate brands. Excludes organic certified consumer offers for Green & Black's. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive. (3) In the reporting year 2024, our annual GHG emissions were accounted following the GHG Protocol Corporate Standards and using the operational control approach. Reported information following Science Based Targets initiative (SBTi) guidelines for near-term target excludes Capital Goods, Upstream Transportation and Distribution of Raw Materials, Employee Commuting, Downstream Transportation at Customer, and End of Life long-term target excludes these same categories, except for Upstream Transportation and Distribution of Raw Materials and Employee Commuting. We have recalculated our base year 2018 and most recent years (2023 and 2024) inventory following the GHG Protocol Corporate Standards. Recent updates incorporate acquisitions Chipita and Ricolino. The footprint includes all acquisitions and divestitures to date except for Evirth. For more details, please see the Carbon Accounting Manual. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive. In the context of the Science Based Targets initiative (SBTi), an 'absolute target' refers to a reduction in total greenhouse gas (GHG) emissions by a specific percentage or amount, measured against a baseline year, rather than a reduction per unit of production or activity. (4) 2024 reported information covers the period from December 1, 2023 through November 30, 2024. Our annual reporting cycle for this metric differs from previous years as we migrate to calendar year reporting. Reported information utilizes forward looking volume estimates. Reported information is verified by an independent third-party and available in our ESG Reporting & Disclosure Reporting Archive. (5) Reported information from January 1, 2024 to December 31, 2024 measures the percentage of net revenue that comes from products that are either individually wrapped mindful portion units (≤200 calories) or have a mindful portion label/information per stock keeping unit, and includes any products with verified product specifications within biscuits and baked snacks, chocolate, and candy categories, and does not include Halls products, semi-final products not sold to consumers, bulk products for wholesale, beverages, meals, gums, gifting, seasonal or festive products, licensing/royalty revenue, private label products and products with small printable areas. Visit 3BL Media to see more multimedia and stories from Mondelez International
Yahoo
04-07-2025
- Business
- Yahoo
5 Must-Read Analyst Questions From Mondelez's Q1 Earnings Call
Mondelez's first quarter results prompted a positive response from the market, as the company's profit surpassed analyst expectations despite flat sales. Management attributed this performance to strong pricing execution in the chocolate segment, successful product launches, and disciplined cost management. CEO Dirk Van de Put highlighted that effective price increases, particularly in Europe, and continued brand loyalty for core products like Oreo and Cadbury Dairy Milk offset the volume pressures caused by record cocoa costs and softer consumption in certain regions. The quarter also benefited from improved free cash flow and ongoing productivity initiatives. Is now the time to buy MDLZ? Find out in our full research report (it's free). Revenue: $9.31 billion vs analyst estimates of $9.31 billion (flat year on year, in line) Adjusted EPS: $0.74 vs analyst estimates of $0.66 (12.2% beat) Adjusted EBITDA: $1.70 billion vs analyst estimates of $1.54 billion (18.2% margin, 10.6% beat) Operating Margin: 7.3%, down from 29.4% in the same quarter last year Organic Revenue rose 3.1% year on year (4.2% in the same quarter last year) Sales Volumes fell 3.5% year on year (-2.1% in the same quarter last year) Market Capitalization: $89.33 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Andrew Lazar (Barclays) asked about regional performance trends and outlook. CEO Dirk Van de Put detailed that Europe remained stable due to successful pricing actions, while North America faced softness from lower consumer confidence and destocking. Kenneth Goldman (JPMorgan) questioned the balance between pricing and revenue growth management (RGM) strategies. Van de Put responded that while pricing has been largely successful, continued vigilance and flexibility in RGM are necessary in case of further cost pressures. Peter Galbo (Bank of America) inquired about the impact of Easter timing on chocolate elasticity. CFO Luca Zaramella noted that elasticity was slightly more favorable than expected, but full effects of recent price increases will be clearer in Q2. Megan Clapp (Morgan Stanley) sought clarification on profit trends and tariff impacts. Zaramella explained that profit outperformance was driven by better pricing and productivity, while tariff effects are expected to be manageable and phased in later in the year. Christopher Carey (Wells Fargo) asked if potential cocoa cost relief would be passed to consumers or reinvested. Zaramella stated that any cost savings would likely be reinvested into the business to strengthen category leadership. Our team will be watching (1) the effectiveness of Mondelez's pricing and promotional strategies in offsetting input cost inflation, (2) signs of stabilization or recovery in U.S. biscuit and snacking demand, and (3) the pace of innovation rollouts, especially in chocolate and biscuits. Progress in emerging markets and agility in responding to evolving consumer behaviors will also be critical to sustaining performance. Mondelez currently trades at $68.93, up from $65.58 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Daily Mail
01-06-2025
- Business
- Daily Mail
Cadbury owner's 'disrespect' to MPs over Russia demand
Leading MPs have accused Cadbury owner Mondelez of being 'too busy counting its profits' to respond to criticism over selling its chocolate in Russia. More than 70 MPs and peers accused the firm of 'funding Russia's war machine' by continuing to trade in the country. The group has called on Mondelez boss Dirk Van de Put to pull the company out of Russia. Alex Sobel, chairman of the UK's All-Party Parliamentary Group on Ukraine, said failing to respond to MPs was a sign of 'disrespect' to Parliament. He added: 'Mondelez must exit Russia now or face the consequences of funding the Kremlin's war machine.' Tory MP Sir John Whittingdale, who sits on the Foreign Affairs Select Committee, said the firm was 'too busy' counting its profits in Russia to respond to MPs. A Mondelez spokesman said it had 'scaled down' its activities in the country.
