News

Mondelēz makes "solid progress"

15 Feb 2017

Mondelēz International has reported its 2016 results. Diluted EPS was $1.05, down 76%, due to the prior-year gain related to the coffee business transactions; adjusted EPS was $1.94, up 24% on a constant-currency basis.

Mondelēz makes solid progress

Mondelēz International has reported its 2016 results. Diluted EPS was $1.05, down 76%, due to the prior-year gain related to the coffee business transactions; adjusted EPS was $1.94, up 24% on a constant-currency basis. Operating income margin was 9.9%, down 20.1 percentage points.

"We continue to make solid progress toward our near-term margin targets, while investing for long-term growth," said Irene Rosenfeld, Chairman and CEO. "Despite significant economic disruptions, political uncertainties and slower global category growth, we remain confident in and committed to our balanced strategy for both top- and bottom-line growth. Throughout the year, we continued to sharpen the focus of our portfolio, increase Power Brand investments and modernize our supply chain. These actions, together with our excellent cost discipline, position us well to deliver strong operating leverage that will drive sustainable value creation for our shareholders."

In its outlook, the company said that it expects organic net revenue to increase at least 1% in 2017 and Adjusted operating income margin in the mid-16% range. The company also expects double-digit adjusted EPS growth on a constant-currency basis. The company estimates currency translation would reduce net revenue growth by approximately 1% and adjusted EPS by approximately $0.03.