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Nestle 9-month Sales Rise; Backs FY22 Earnings Forecast, Updates Organic Sales Growth View

Swiss food and beverage giant Nestle SA (NSRGY.PK,NSTR.L) reported Wednesday that its nine-month total reported sales increased 9.2 percent to 69.1 billion Swiss francs from last year's 63.3 billion francs.

Organic growth reached 8.5 percent, while real internal growth was 1 percent. Pricing was up 7.5 percent, reflecting significant cost inflation.

The company said organic growth was broad-based across most geographies and categories. Organic growth was 7.4 percent in developed markets, and was 10.2 percent in emerging markets.

Zone North America sales grew 11.2 percent, and the growth was 1.7 percent in Zone Europe.

Looking ahead for fiscal 2022, the company now expects organic sales growth around 8 percent, while previous estimate was organic sales growth between 7 percent and 8 percent . The underlying trading operating profit margin is still expected around 17 percent.

Nestle continues to expect underlying earnings per share in constant currency and capital efficiency to increase.

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