Mondelez International, Inc. Annual Report, Year Ended Dec 31, 2008

Mondelez International, Inc. (formerly Kraft Foods Inc.) reported strong net revenue growth of 16.8% in 2008, reaching $42.2 billion. This growth was primarily driven by the acquisition of the LU biscuit business, strategic pricing adjustments to offset rising commodity costs, and favorable foreign currency movements. However, operating income saw a slight decline of 3.8% due to significant increases in input costs, higher marketing and administrative expenses, and substantial restructuring charges totaling $989 million. Despite the operating income dip, the company achieved a notable increase in diluted EPS, up 18.5% to $1.92, boosted by a significant one-time gain of $937 million from the split-off of its Post cereals business. The company also completed its five-year, $3.1 billion restructuring program aimed at cost savings and operational efficiencies. Financially, Kraft strengthened its balance sheet by issuing $7.0 billion in senior unsecured notes and repurchased $777 million of its common stock under its share repurchase program. Looking ahead to 2009, the company provided an updated EPS outlook, anticipating challenges from currency fluctuations and increased pension costs.