01—Abstract
Summary
Summary of the 10-K filed February 5, 2025. Cited figures are marked; the original filing is the authoritative source.
Mondelez International reported net revenues of $36.4 billiona for fiscal year 2024, marking a modest 1.2% increase over the previous year.
The company's strategic focus on "accelerating consumer-centric growth, driving operational excellence, creating a winning growth culture, and scaling sustainable snacking" continues to guide its performance. While overall net revenue saw a slight increase, driven by higher net pricing and recent acquisitions like Evirth, this was partially offset by unfavorable currency impacts and a decline in volume/mix, reflecting some consumer demand softness and customer price negotiation disruptions in Europe. Despite challenges such as increased input costs, particularly for cocoa, Mondelez demonstrated resilience with a 9.1% increase in Adjusted EPS to $3.36b, signaling effective cost management and pricing strategies.
The company is actively managing macroeconomic uncertainties, including inflation and geopolitical risks, and continues to invest in its brand portfolio and operational efficiencies. The strategic acquisitions and ongoing portfolio optimization are key components of its long-term value creation strategy.
02—Key points
Key Highlights
- Mondelez International generated $36.4 billion in net revenues for fiscal year 2024, a 1.2% increase year-over-year.
- Adjusted EPS grew by 9.1% to $3.36 in 2024, demonstrating improved profitability and operational efficiency.
- The company executed its four strategic priorities: accelerating consumer-centric growth, driving operational excellence, building a winning growth culture, and scaling sustainable snacking.
- Key acquisitions, including Evirth, were completed to expand the company's portfolio, particularly in the cakes and pastries category in China.
- Despite rising input costs, especially for cocoa, Mondelez utilized pricing strategies and cost controls to mitigate impacts on profitability.
- The company continues to navigate a complex macroeconomic environment characterized by inflation, supply chain disruptions, and geopolitical uncertainty.
- Significant investments in capital expenditures, including a new ERP system transformation program, are underway to support future growth and operational efficiency.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2024, Mondelez International, Inc. kept $0.13.
- Revenue$36.44B100.0%
- Cost of revenue−$22.18B60.9%
- Gross profit$14.26B39.1%
- Operating costs−$7.91B21.7%
- Operating income$6.34B17.4%
- Interest, other & tax−$1.73B4.8%
- Net income$4.61B12.7%
Where FY2024 revenue went
$36.44B- Cost of revenue: $22.18B, 61% of revenue
- SG&A: $7.44B, 20% of revenue
- Net income: $4.61B, 13% of revenue
- R&D: $400.0M, 1.1% of revenue
- Interest, other & tax: $1.73B, 4.8% of revenue
Kept 13% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2024filed February 5, 2025Financial Statements
FY2024 against FY2023
| Line item | FY2024FY2023 | Change |
|---|---|---|
| Revenue | $36.44B$36.02B | +1.2% |
| Cost of Revenue | $22.18B$22.25B | −0.3% |
| Gross Profit | $14.26B$13.76B | +3.6% |
| R&D Expenses | $400.00M$380.00M | +5.3% |
| SG&A Expenses | $7.44B$8.00B | −7.0% |
| Operating Income | $6.34B$5.50B | +15.3% |
| Interest Expense | $508.00M$550.00M | −7.6% |
| Net Income | $4.61B$4.96B | −7.0% |
| EPS (Basic) | $3.44$3.64 | −5.5% |
| EPS (Diluted) | $3.42$3.62 | −5.5% |
| Shares Outstanding (Basic) | 1.34B1.36B | −1.6% |
| Shares Outstanding (Diluted) | 1.35B1.37B | −1.7% |
05—Questions
Frequently Asked Questions
What were Mondelez International's key financial performance indicators for fiscal year 2024?
For fiscal year 2024, Mondelez International reported net revenues of $36.4 billion, an increase of 1.2% from the prior year. Adjusted EPS increased by 9.1% to $3.36. Organic Net Revenue grew by 4.3%.
How did the company address rising input costs, particularly for cocoa?
Mondelez International addressed rising input costs, including significant increases in cocoa prices, through a combination of higher net pricing, cost-saving initiatives, productivity improvements, and hedging strategies. These actions helped to mitigate the impact on profitability.
What are the company's primary strategic priorities, and how are they impacting performance?
The company's four strategic priorities are: accelerating consumer-centric growth, driving operational excellence, building a winning growth culture, and scaling sustainable snacking. These priorities guide investments in brands, supply chain optimization, and innovation to drive long-term value for shareholders.
What is the company's outlook on acquisitions and divestitures?
Mondelez International actively pursues strategic acquisitions to complement and expand its portfolio, as demonstrated by the acquisition of Evirth in 2024. The company also divests non-core assets to focus on its core snacking categories and enhance strategic alignment.
06—Continue