01—Abstract
Summary
Summary of the 10-K filed February 4, 2022. Cited figures are marked; the original filing is the authoritative source.
Mondelēz International's 2021 10-K filing highlights robust revenue growth and strategic execution, driven by strong brand performance and consumer-centric initiatives.
The company reported net revenues of $28.7 billiona, an increase driven by favorable volume/mix, higher net pricing, and positive currency translation. Despite facing inflationary pressures on raw materials, transportation, and labor, Mondelēz demonstrated resilience through price adjustments and cost management. The company's strategy remains focused on accelerating consumer-centric growth, driving operational excellence, and building a winning culture.
Recent developments include the acquisition of Chipita S.A., which is expected to enhance its snacks portfolio. Mondelēz also continues to invest in innovation, sustainability, and digital capabilities to drive long-term value for shareholders.
02—Key points
Key Highlights
- Mondelēz International reported net revenues of $28.7 billion for the fiscal year ended December 31, 2021, an increase of 8.0% compared to 2020.
- Organic Net Revenue grew by 5.2% to $28.0 billion, indicating strong underlying business performance.
- The company experienced significant revenue growth in developed markets (+6.3%) and emerging markets (+11.4%), demonstrating broad-based demand.
- Diluted EPS increased by 23.1% to $3.04, and Adjusted EPS grew by 12.1% to $2.87, showcasing improved profitability.
- Mondelēz completed the acquisition of Chipita S.A. in January 2022, a strategic move to expand its snack offerings.
- The company continues to focus on key strategic priorities: accelerating consumer-centric growth, driving operational excellence, and building a winning growth culture.
- Mondelēz is committed to sustainability, setting a goal for net-zero greenhouse gas emissions across its full value chain by 2050.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2021, Mondelez International, Inc. kept $0.15.
- Revenue$28.72B100.0%
- Cost of revenue−$17.47B60.8%
- Gross profit$11.25B39.2%
- Operating costs−$6.60B23.0%
- Operating income$4.65B16.2%
- Interest, other & tax−$353.0M1.2%
- Net income$4.30B15.0%
Where FY2021 revenue went
$28.72B- Cost of revenue: $17.47B, 61% of revenue
- SG&A: $6.26B, 22% of revenue
- Net income: $4.30B, 15% of revenue
- R&D: $347.0M, 1.2% of revenue
- Interest, other & tax: $353.0M, 1.2% of revenue
Kept 15% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2021filed February 4, 2022Financial Statements
FY2021 against FY2020
| Line item | FY2021FY2020 | Change |
|---|---|---|
| Revenue | $28.72B$26.58B | +8.0% |
| Cost of Revenue | $17.47B$16.14B | +8.2% |
| Gross Profit | $11.25B$10.45B | +7.7% |
| R&D Expenses | $347.00M$332.00M | +4.5% |
| SG&A Expenses | $6.26B$6.10B | +2.7% |
| Operating Income | $4.65B$3.85B | +20.8% |
| Interest Expense | $365.00M$423.00M | −13.7% |
| Net Income | $4.30B$3.56B | +21.0% |
| EPS (Basic) | $3.06$2.48 | +23.4% |
| EPS (Diluted) | $3.04$2.47 | +23.1% |
| Shares Outstanding (Basic) | 1.40B1.43B | −2.0% |
| Shares Outstanding (Diluted) | 1.41B1.44B | −1.9% |
05—Questions
Frequently Asked Questions
What were Mondelēz International's key financial performance indicators for 2021?
In 2021, Mondelēz International reported net revenues of $28.7 billion, an 8.0% increase from the previous year. Organic Net Revenue grew by 5.2% to $28.0 billion. Diluted Earnings Per Share (EPS) rose to $3.04, a 23.1% increase, and Adjusted EPS grew by 12.1% to $2.87, reflecting improved profitability and strong underlying business performance.
How did the company's strategy evolve in response to market conditions?
Mondelēz International's strategy remains focused on three core priorities: accelerating consumer-centric growth by investing in its brands and meeting evolving consumer needs; driving operational excellence through cost discipline and supply chain efficiencies; and building a winning growth culture by fostering agility and local consumer focus. The company has also actively managed inflationary pressures through pricing actions and cost control measures.
What are the major risks and challenges the company identified for the upcoming year?
Key risks and challenges identified include the ongoing impact of the COVID-19 pandemic on supply chains and consumer demand, increased operating costs due to higher raw material, transportation, and labor expenses, and potential volatility in global markets. The company also faces risks related to competition, changing consumer preferences, regulatory environments, and cybersecurity threats.
Can you elaborate on the Chipita S.A. acquisition?
Mondelēz International completed the acquisition of Chipita S.A. in January 2022 for approximately €1.7 billion ($1.9 billion). Chipita is a leading company in croissants and baked snacks, particularly in Central and Eastern European markets. This acquisition is viewed as a strategic complement to Mondelēz's existing portfolio, aimed at strengthening its position in broader snacking categories.
06—Continue