Nestlé announces annual results for 2021 (2023)

[Ad hoc announcement according to art. 53 SIX Registration Rules]

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• Organic growth reached 7.5%, with real internal growth (CRI) of 5.5% and prices of 2.0%. Growth is supported by continued momentum in retail sales, steady recovery in out-of-premise sales channels, price increases and market share gains.
• Total reported sales increased 3.3% toCHF87.1 billion (2020:CHF84.3 billion). Currencies reduced sales by 1.3%. Net divestments had a negative effect of 2.9%.
• Core Operating Profit Margin (UTOP) was 17.4%, a 30 basis point drop. Commercial operating margin (TOP) decreased 290 basis points to 14.0% as reported, largely reflecting impairments related to Wyeth's business.
• Basic earnings per share increased 5.8% in constant currency and 5.1% in benchmark terms inCHF4.42. Earnings per share increased 41.1 percentCHF6.06 as reported, mainly reflecting the gain from the sale of L'Oréal shares.
• Free cash flow fell 14.9% toCHF8.7 billion, temporarily reflecting higher capital expenditures and inventory levels.
• The board of directors proposes a dividendCHF2.80 per share, up 5 cents, marking 27 consecutive years of dividend increases. Total,CHFIn 2021, $13.9 billion was returned to shareholders through a combination of dividends and share buybacks.
• Continuous improvement in portfolio management. 2017 portfolio turnover now represents approximately 20% of total 2017 sales.
• Outlook for 2022:We expect organic sales growth of approximately 5% and an underlying commercial operating profit margin of between 17.0% and 17.5%. Constant currency earnings per share and capital efficiency are expected to increase.
• Medium-term prospects:maintained mid-digit organic sales growth. Modest improvements in the operating profit margin of the underlying transactions continued. Continued prudent capital allocation and capital efficiency improvements.

Mark Schneider, NestléCEO, commented:"In 2021, we remained focused on executing our long-term strategy and strengthening growth investments while addressing global supply chain challenges. Our organic growth was strong, with broad-based market share growth, driven by disciplined execution, rapid innovation, and increased digitalization We have mitigated the impact of extraordinary cost inflation through diligent cost management and responsible pricing Strong underlying earnings-per-share growth demonstrates the resilience of our value creation model The entire Nestlé team has demonstrated exceptional tenacity and flexibility in a challenging environment.

The evolution of our portfolio continued, focusing on categories with attractive growth opportunities and differentiated offers. Recent examples include the acquisition of key brands from The Bountiful Company and the sale of key water brands in North America.

Our sustainability program has gone further as we improve the well-being of our consumers, contribute to environmental regeneration and strengthen rural communities in our supply chains.

We continue to create value for our shareholders through disciplined capital allocation, steady dividend growth and significant share repurchases. Going forward, we are confident in the strength of our value creation model."

team results

* 2020 figures have been restated following the announcement of Nestlé Health Science and Nespresso as separate segments beginning in 2021 (previously combined and presented under Other Businesses).

group sales

Organic growth was 7.5%, withDRESSof 5.5%. Prices rose between 2.0% and 3.1% in the fourth quarter to offset significant cost inflation.

Growth was broad across most geographies and categories. Organic growth reached 7.2% in developed markets, the highest level in over a decade, driven primarily byDRESSwith positive prices. Organic growth in emerging markets was 7.8%, with strongDRESSand positive prices.

By product category, the largest contributor to organic growth was coffee, driven by strong momentum from the top three brands.Nescafe, NespressoiStarbucks. Sales of Starbucks products increased by 17.1% to reachCHF3.1 billion, producing moreCHF1 billion in higher sales compared to 2018. Purina PetCare achieved double-digit growth, led by premium brands and science-basedPurina Pro plan, elegant partyiPurina UNOas well as veterinary products. Ready meals and cooking aids posted high single-digit growth, thanks to strong sales development inMaggi, Stoufferisimple kitchen. Sales of vegetarian and plant-based foods grew in double digits, reaching approx.CHF800 million Nestlé Health Science experienced double-digit growth, reflecting strong demand for vitamins, minerals and supplements, as well as healthy products for aging. Dairy experienced mid-digit growth, driven by strong demand for premium and fortified milk, coffee creamers and ice cream. Confectionery sales grew at a high single-digit rate, supported by strong sales growth ofKit Katand gift products. Water experienced high single-digit growth, driven by premium brands and a recovery in out-of-home channels. Child nutrition posted negative growth, affected by declining sales in China and lower birth rates around the world. Sales of human milk oligosaccharide (HMO) products continued to show strong growth, reachingCHF1.2 billion

By channel, organic growth in retail sales was 6.4%. E-commerce sales rose 15.1% to 14.3% of total Group sales, with strong momentum across most categories, particularly Purina PetCare, coffee and Nestlé Health Science. The organic growth of foreign channels reached 24.5%, helped by a low comparison base due to the pandemic.

Net disposals reduced sales by 2.9%, mainly related to the Nestlé Waters North America, Yinlu and Herta transactions. The divestments were partially offset by acquisitions, including the key brands The Bountiful Company and Freshly. The negative impact on sales of foreign currency is moderate, at 1.3%. Total reported sales increased 3.3% toCHFSEK 87.1 billion

Basic operating profit from transactions

Core operating profit increased 1.4% toCHF15.1 billion. Core commercial operating profit margin decreased 30 basis points to 17.4% in constant and reference currencies, reflecting the mismatch between cost inflation and pricing actions. One-time integration costs associated with the acquisition of The Bountiful Company's core brands had a negative impact of approximately 10 basis points.

Gross margin decreased 130 basis points to 47.8%, reflecting significant inflation across the board for shipping, packaging, transportation and energy costs. The impact of cost inflation, which rose sharply in the second half, was partially offset by increases in pricing, operating leverage, and efficiencies.

Distribution costs as a percentage of sales decreased by 20 basis points, primarily as a result of the introduction of the Nestlé Water brands in North America.

Administrative and marketing expenses decreased as a percentage of sales by 80 basis points, driven by strong operating leverage and efficiencies. At the same time, the Group continued to invest in growth and increase consumer marketing spend in constant currency.

Restructuring costs and other items, net of transactions, increased byCHF2.3 billion toCHF3.0 billion, largely reflecting impairments related to the Wyeth business. As a result, operating profit from trading fell 14.6% toCHF12.2 billion, and trading operating profit margin decreased 290 basis points year-over-year to 14.0%.

Net financial costs and income tax

Net financial costs were unchanged inCHF873 million as the lower cost of debt offset the higher average net debt.

The group reported that the tax rate decreased 330 basis points to 20.9%, mainly as a result of exceptional items in 2020, including the saleNAS.take care of the ice cream The base tax rate decreased 40 basis points to 20.7%, mainly due to the geographic and business mix.

Reduction of L'Oréal's stake

On December 15, 2021, Nestlé sold 22.26 million shares of L'Oréal for a totalCHFHRK 9.3 billion Following the transaction, Nestlé owns 20.1% of L'Oréal and continues to fully support the company's value creation strategy.

Net profit and earnings per share

Net profit increased by 38.2% inCHF16.9 billion Net profit margin increased by 490 basis points to 19.4%. Gains from the sale of L'Oréal shares more than offset higher asset impairment and other one-off items.

Basic earnings per share increased 5.8% in constant currency and 5.1% in benchmark terms inCHF4.42. Sales growth was the biggest contributor to the increase. Nestle's share buyback program contributed 1.3% to underlying earnings per share growth, excluding finance charges. Earnings per share increased 41.1 percentCHF6.06 by reference.

Cash flow

Cash from operations decreased byCHF17.2 billion toCHF16.6 billion, mainly due to slightly higher working capital at the end of the year. In the context of significant disruptions in the supply chain, the Group has temporarily increased its inventory levels. Free cash flow decreased fromCHF10.2 billion toCHF8.7 billion, primarily due to a temporary increase in capital expenditures to meet strong volume demand, particularly for Purina PetCare and coffee.

Dividing

At the annual meeting on April 7, 2022, the Board of Directors will propose a dividendCHF2.80 per share, 5 cents more. If approved, it will be the company's 27th consecutive annual dividend increase. The company maintains or increases its dividend in Swiss francs for 62 years. Nestlé is committed to upholding this long-standing practice of increasing the dividend in Swiss francs each year.

The last ex-dividend trading day will be April 8, 2022. The net dividend will be paid from April 13, 2022.

The shareholders were registered in the register of shares with voting rights on March 31, 2022 at 12:00 p.m. (CEST) will have the right to exercise their right to vote.

Sharing redemption programs

During 2021, the Group continued with the repurchasesCHF6.3 billion shares of Nestlé.

On December 30, 2021 Nestlé ceased to existCHFShare buyback program worth 20 billion which started on January 3, 2020. Between January 3, 2020 and December 30, 2021, the Group repurchased 123.1 million of its shares in totalCHFHRK 13.1 billion average priceCHF106.08 per share.

Nestlé launched a new share purchase program untilCHF20 billion on January 3, 2022. The company expects to purchase approx.CHF10 billion shares in the first twelve months. The new share buyback program will be completed by the end of December 2024.

net debt

Net debt increased byCHFreach 1.6 billionCHF32.9 billion as of December 31, 2021. Dividend payments, share repurchases, and net cash outflows from acquisitions and divestitures more than offset proceeds from the sale of L'Oréal shares and cash flow generation free.

Return on Invested Capital (ROIC)

groupsROICdecreased 250 basis points to 12.2%, as a result of impairments related to the Wyeth business. Excluding the impairment of Wyeth, the GroupROICwas 14.2 percent.

portfolio management

Nestlé has completed acquisitions and sales for a total value of approx.CHF9.9 billion in 2021.

Nestlé is transforming its global water business, focusing on international premium brands, mineral waters and healthy hydration products. In March, Nestlé completed the acquisition of Essentia Water, a premium functional water brand in theNAS.and sales of its local spring water brands, pure water business, and beverage delivery service.NAS.and Canada.

Nestlé Health Science continues to focus on building the world's leading health and nutrition platform. In July, Nestlé completed the acquisition of Nuun, a leader in the rapidly growing functional hydration market, and signed an agreement with Seres Therapeutics to co-commercialize SER-109, an investigational oral microbiome therapeutic inNAS.and Canada. In August, Nestlé completed the acquisition of major brands from The Bountiful Company toAmerican dollar5.75 billion The Bountiful Company is the number one company in the highly attractive global category of nutrition and nutritional supplements.

Building on the successful global coffee alliance, Nestlé continues to expand the reach of Starbucks brand coffee and tea beyond Starbucks retail stores. In July, Nestlé and Starbucks announced a new partnership to bring Starbucks ready-to-drink coffee beverages to select markets in Southeast Asia, Oceania and Latin America.

New zone structure

As of January 1, 2022, the company is organized into five zones: North America Zone, Latin America Zone, Europe Zone, Asia-Oceania-Africa Zone, and Greater China Zone. Nestlé will report sales and growth figures for the new zone structure for the first time on April 21, 2022.

The new structure will strengthen the company's market focus and enhance Nestlé's ability to win in a rapidly changing environment. It also underscores the company's deep commitment to success in all parts of the world, including the two major markets of North America and Greater China.

Americas Zone (AMS)

• 8.5% organic growth: 4.8%DRESS; Precio 3,7%.
• North America posted high single-digit organic growth, with strongDRESSand positive prices.
• Latin America posted double-digit organic growth, with strongDRESSand prices.
• Core business operating profit margin increased 30 basis points to 20.8%, primarily due to sales of Nestlé Waters brands in North America.

Organic growth was 8.5%, with a strongDRESSof 4.8 percent. Prices rose 3.7%, reaching 5.2% in the fourth quarter. Net divestments reduced sales by 6.6%, as the divestment of the Nestlé Waters North America brands more than offset the acquisitions of Freshly and Essentia Water. The exchange rate had a negative impact of 2.5%. A sale has been reported in the ZoneAMSdecreased by 0.7% toCHFSEK 33.8 billion

ZoneAMSreported high single-digit organic growth, building on strong sales growth in 2020. Price increases, continued innovation, strong momentum from e-commerce and continued recovery from foreign channels supported growth. The area experienced continued broad market share growth, led by coffee, pet food, frozen food and room temperature cooking.

North America experienced high single-digit growth amid significant supply chain constraints. Purina PetCare sales grew at a double-digit pace, led byPurina Pro plan, elegant partyiPurina UNO. Science-based innovation continued to support growth, including startupsProfessional Plan Cardiovascular Careand its new varietiesSensitive skin and stomach.guy. Nestlé Professional and Starbucks out-of-home products posted strong double-digit growth, supported by further recovery in out-of-home channels. Sales of beverage categories, including Starbucks household products,Coffee CompanioniNescafé, grew at a mid-digit rate. Frozen and refrigerated foods posted mid-single-digit growth, supported by strong sales development ofStouffer's, simple cookingihot pockets. Pizza sales declined after a strong comparable base in 2020, with a return to positive growth in the fourth quarter. Water posted mid-digit growth, driven by strong growth at its recently acquired Essentia Water business. Candy sales in Canada increased by almost 10%, due toKit Kat. Homemade cakes, incl.toll houseicloves, experienced a drop in sales after exceptional demand in 2020, but remained above 2019 levels.

Latin America posted double-digit growth, with broad contributions across all geographies and product categories. Sales in Mexico grew at a double-digit rate, led by coffee, Purina PetCare and confectionery. Brazil experienced double-digit growth, particularly reflecting strong demand for sweetsKit Kat, as well as Purina PetCare andNescafé. Chile also experienced double-digit growth, helped by Purina PetCare, confectionery and ice cream. By product category, Purina PetCare was the largest contributor to growth, led byPlan Purina ProiDog food. Confectionery and coffee also posted strong double-digit growth. Sales of Nestlé Professional exceeded 2019 levels, with strong growth in all markets. Child nutrition experienced mid-digit growth, driven by strong demandUd.Premium and functional products. Dairy growth moderated to a low single digit rate, following exceptionally strong demand in 2020. Plant-based products continued strong growth, supported by expansion.the heart of naturein all markets.

Underlying zone operating margin increased by 30 basis points, with the positive margin effect from sales of Nestlé Waters brands in North America more than offsetting significant cost inflation.

Zone Europe, Middle East and North Africa (ME)

• 7.2% organic growth: 6.0%DRESS; Precio 1,2%.
• Western Europe posted mid-single-digit organic growth with strongDRESSand slightly positive prices.
• Double-digit organic growth was recorded in Central and Eastern Europe, with strongDRESSand positive prices.
• The Middle East, North Africa, Turkey and Israel posted high single-digit organic growth, with balanced contributionsDRESSand prices.
• Core operating margin from operations fell 10 basis points to 18.5%.

Organic growth reached 7.2%, with a strongDRESS6.0% supported by volume and mix. Prices rose 1.2%, and in the fourth quarter prices rose 2.5%. Net divestments reduced sales by 2.2%, largely related to the divestment of Herta's meat products business, which was partially offset by the acquisitions of Mindful Chef and Lily's Kitchen. The exchange rate had a negative impact on sales of 0.6%. A sale has been reported in the ZoneEMENArose 4.5 percent inCHFSEK 21.1 billion

ZoneEMENAreported high single-digit organic growth, reaching its highest level in a decade. Growth is supported by continued portfolio evolution into fast-growing categories and channels, as well as innovation. All markets posted positive growth, with strong sales development led by the UK, Russia, Italy and France. The area continued to experience strong market share growth, particularly in pet food, coffee, ambiance, and casual dining.

By product category, Purina PetCare experienced double-digit growth with leading brandsGourmet, FelixiPlan Purina Proas well as veterinary products. Growth was strong across all channels, particularly in e-commerce and specialty pet stores. Sell ​​to new growth platformsTails.com, Lily's kitchenidog countryoverall, it increased by nearly 40%. Coffee sales grew at a high single-digit rate, supported by strong momentum forNescaféand household products from Starbucks. Nestlé Professional posted strong double-digit growth, supported by further recovery in out-of-home channels, with particular strength in coffee. Water posted high single-digit growth, led byS.PellegrinoasNestle Pura Vidain the Middle East and North Africa. Confectionery sales grew at a mid-digit rate, led byKit Kat. Gastronomy registered low single-digit growth, with a high comparison baseMaggie. sales forGourmet Gardeniconscious cookcontinued to grow at a double-digit rate.Vuna Gourmet Garden, a recently launched vegetable tuna alternative, has been in strong demand. Baby food shows positive growth, with a continued increase in market share, despite the lower birth rate in the context of the pandemic.

The Zone's underlying operating profit margin decreased by 10 basis points. Cost inflation and increased investment in growth more than offset operating leverage and product mix.

Zone of Asia, Oceania and Sub-Saharan Africa (AOA).

• 4.2% organic growth: 3.5%DRESS; Precio 0,8%.
• China posted low single-digit organic growth, on a positive basisDRESSand slightly positive prices.
• Southeast Asia posted positive organic growth, with resultsDRESSand slightly negative prices.
• South Asia posted double-digit organic growth, with strongDRESSand positive prices.
• Sub-Saharan Africa posted double-digit organic growth, led by a strongDRESSwith positive prices.
• Japan, South Korea and Oceania posted mid-single-digit organic growth. StrongDRESSpartially offset by slightly negative prices.
• Core operating margin from operations fell 40 basis points to 21.8%.

Organic growth was 4.2%, withDRESSof 3.5%. Prices were 0.8% and increased to 2.2% in the fourth quarter. Net disposals had a negative impact of 3.9%, largely related to the disposal of the Yinlu peanut milk and canned rice porridge businesses in China. The coin reduced sales by 0.4%. A sale has been reported in the ZoneAOAremained unchanged inCHFSEK 20.7 billion

ZoneAOAreported mid-digit organic growth in a challenging economic environment with continued regional lockdown. Zoni achieved market share gains in kitchen, coffee and pet food. Infant nutrition registered a loss of market share.

China posted low single-digit growth. Strong sales trends in most categories were partially offset by lower sales in Baby Food, where recovery efforts continued. The biggest driver of growth was Nestlé Professional, with sales exceeding 2019 levels. Coffee, Kitchen and Purina PetCare all saw strong double-digit growth. The dairy industry posted high single-digit growth, with strong sales growth, especially for healthy aging productsYiyangCertified functional food to improve immunity and mobility. Confectionery posted mid-digit growth, driven by strong demandmarine beltchocolate wafer.

Southeast Asia experienced positive growth, with sales reaching mid-single digits in the fourth quarter despite continued traffic constraints. Sales in Malaysia grew at a mid-digit rate, with broad growth in most categories. The Philippines and Indonesia posted negative growth, which turned positive in the fourth quarterNescaféiMarca Medvjed. Indochina posted positive growth, despite declining sales in on-the-go and out-of-home channels.

South Asia posted double-digit growth, supported by distribution expansion in rural areas and continued strong momentum from e-commerce. Growth was broad across most categories in India and Pakistan, led byMaggi, KitKat, NescaféI Nestle Professional.

Sub-Saharan Africa recorded double-digit growth, driven by a strong development in sales ofMay MiloiNescafé, especially for bargains.

Japan experienced high single-digit growth, led by coffee and Purina PetCare. Sales in South Korea grew at a strong double-digit rate, driven by coffee. Oceania posted positive growth, with strong demand for Purina PetCare,Kit KatiMaggie.

By product category, the main growth driver was coffee driven by new launchesNescaféand Starbucks products. Culinary and Nestlé Professional posted double-digit growth. Confectionery, ice cream and Purina PetCare sales grew at high single-digit rates. The dairy company posted mid-digit growth, fueled by strong demand for premium and fortified milk. Infant nutrition sales declined, with positive growth outside of China in the second half.

The Zone's core business operating margin decreased by 40 basis points. Cost inflation and product mix more than offset operating leverage.

Nespresso

• 8.8% organic growth: 8.2%DRESS; Precio 0,6%.
• Core operating margin from operations fell 60 basis points to 23.0%.

Organic growth reached 8.8%, based on a solidDRESS8.2% and prices 0.6%. The exchange rate had a positive impact on sales of 0.3%. Nespresso reported sales increased by 9.1% inCHFSEK 6.4 billion

Nespresso achieved high single-digit growth, declining to a mid-single-digit rate in the second half after a strong footing in 2020. Growth was driven by new consumer adoption, particularly forVirtuesystem, the continuous promotion of electronic commerce and the recovery of boutiques and the foreign channel. Constant innovation resonated strongly with consumers and major new product launches included expansion.world explorationsiorigins revivalseries, as well as the high demand for festive year-end offers.

By geography, America andAOAposted double-digit growth. sales forEMENAgrew at a mid-digit rate. Overall, Nespresso gained market share, and most of the market contributed.

Nespresso's underlying business operating margin fell 60 basis points. Increased growth investing more than offset operating leverage.

Nestlé Health Sciences

• 13.5% organic growth: 13.4%DRESS; Precio 0,1%.
• Core operating profit margin from operations fell 290 basis points to 13.6%.

Organic growth was 13.5%, with a strongDRESSprices 13.4% and 0.1%. Net acquisitions increased sales by 33.2%, primarily related to the acquisitions of flagship brands The Bountiful Company, Vital Proteins, Zenpep and Aimmune. The exchange rate had a negative impact on sales of 1.8%. Reported sales in Nestlé Health Science increased by 45.0% toCHFSEK 4.8 billion

Nestlé Health Science achieved double-digit organic growth, building on strong sales growth in 2020, with broad market share gains across all channels and markets. Growth is supported by e-commerce momentum, innovation, geographic expansion, and strong supply chain execution.

Consumer Care posts double-digit growth. Vitamins, minerals, and nutritional supplements that support health and the immune system continue to be in high demand.vital proteinsalmost doubled its sales.garden of lifesaw continued strength, fueled by the launch of new products such asDr. MD Protein Formulatedto improve heart health and immunity. Sales of key brands recently acquired by The Bountiful Company grew at a high single-digit rate, led byThe bounty of natureiSolgar. Healthy aging products posted double-digit growth, which is supportivePushin North America.

Medical Nutrition posted high single-digit growth, with strong demand for pediatric productsAlthera, AlfareiAlfamino, as well as forComplete, a complete nutritional formula for tube feeding. Your moodpalforgia, a treatment for peanut allergy, was affected by the pandemic. In the fourth quarter, the product began to show greater acceptance inNAS.and was also published in Great Britain and Germany.

By geography, America andAOAposted double-digit growth. sales forEMENAgrew at a high single-digit rate.

Nestlé Health Science's underlying operating margin decreased by 290 basis points, mainly due to investments inpalforgia, higher consumer-facing marketing expenses and one-time integration costs associated with the acquisition of The Bountiful Company's core brands.

Business as a Force for Good: An Innovative Plan to Address Child Labor Risks and Achieve Full Cocoa Traceability

On January 27, 2022, Nestlé unveiled a groundbreaking plan that builds on its longstanding efforts to address the dangers of child labor in cocoa production. The company plans to invest in totalCHF1.3 billion by 2030, more than triple the current annual investment. The new incentive program aims to help farmers and their families to steadily and sustainably build social and economic stability. This new program focuses on the complex root causes of child labor, such as poverty, school enrollment, and agricultural practices.

The program, which is based onNestle cocoa design, rewarding practices that increase crop productivity and help provide additional sources of income. By participating in these practices, families can earn up toCHF500 additional annual income for the first two yearsprograma (pdf, 10Mb)level upCHF250 as the program begins to produce tangible results.

Since the incentive is not paid based on the amount of cocoa sold, it also provides significant support to small farmers, and no one is left behind. These payments are in addition to support provided by producing country governments and premiums Nestlé pays for certified cocoa, which is independently audited against the Rainforest Alliance sustainable agriculture standard.

The program splits the payments between the traditionally male farmer and his wife, who is often responsible for the household and childcare, thus contributing to the empowerment of women and improving gender equality.

Internships offered by Nestlé through the program include:

• School enrollment of all children in the home between 6 and 16 years of age.
• Implementation of good agricultural practices, such as pruning, that increase crop productivity.
• Implement agroforestry activities to increase resilience to climate change, such as planting shade trees.
• Generate diversified income, for example by growing other crops, raising animals such as chickens, beekeeping or processing other products such as cassava.

In line with Nestlé's Creating Shared Value approach, the company will help ensure that farmers have the resources, training, and social and economic structures to bring about lasting change.

Building on the positive results of Nestlé's initial pilot program in 2020 with 1,000 farmers in Côte d'Ivoire, the company will launch a large-scale pilot program with 10,000 families in the country starting this year. The goal is to reach around 160,000 cocoa farming families in Nestlé's global cocoa supply chain by 2030.

As part of the programme, Nestlé will transform its cocoa supply to achieve full traceability and separation of its cocoa products from origin to factory. This new effort will help increase accountability and transparency in Nestlé's supply chain and in the broader industry at a time when customers, employees and communities increasingly expect companies to live up to their shared values. .

Nestlé will introduce a range of cocoa products resulting from this innovative programme, offering consumers the opportunity to support the improvement of the living conditions of farming families and the protection of children. This will start the selection.Kit Katproducts in 2023.

point of view

Outlook for 2022:We expect organic sales growth of approximately 5% and an underlying commercial operating profit margin of between 17.0% and 17.5%. Constant currency earnings per share and capital efficiency are expected to increase.

Medium-term prospects:maintained mid-digit organic sales growth. Modest improvements in the operating profit margin of the underlying transactions continued. Continued prudent capital allocation and capital efficiency improvements.

Addition

Summary of full-year sales and basic operating profit of the trade (UTOP) by business segment

Annual summary of sales and basic operating profit of the trade (UTOP) by product

* 2020 figures have been restated following the announcement of Nestlé Health Science and Nespresso as separate segments beginning in 2021 (previously combined and presented under Other Businesses).

Press releases in PDF:

• English (pdf, 500 Kb)
• French (pdf, 500Kb)
• German (pdf, 500 Kb)

Reports released today:

• Financial reports 2021 (pdf, 1 Mb)
• Financial reports 2021 (pdf, 1 Mb)
• Financial report 2021 (pdf, 1 Mb)
• Corporate Governance Report 2021 (pdf, 2 Mb)