Summary
Mondelez International, Inc. (MDLZ) reported solid financial results for the nine months ended September 30, 2021, demonstrating resilience and growth in a dynamic market environment. Net revenues increased by 9.2% to $21.1 billion, driven by a combination of higher net pricing, favorable volume/mix, and incremental revenues from strategic acquisitions. Organic Net Revenue, a key performance indicator excluding currency fluctuations and M&A impacts, grew by 5.1%, indicating strong underlying business performance. Profitability also saw significant improvement. Operating income surged by 27.6% to $3.4 billion, with a notable expansion in operating margin. Diluted Earnings Per Share (EPS) attributable to Mondelēz International increased by 40.4% to $2.33, reflecting effective cost management and strategic execution. The company is actively managing inflationary pressures by implementing pricing actions and focusing on operational efficiencies as part of its "Simplify to Grow" program, while also preparing for the anticipated closing of the Chipita S.A. acquisition in early 2022.
Financial Highlights
53 data points| Revenue | $7.18B |
| Cost of Revenue | $4.36B |
| Gross Profit | $2.82B |
| SG&A Expenses | $1.44B |
| Operating Income | $1.29B |
| Interest Expense | $87.00M |
| Net Income | $1.26B |
| EPS (Basic) | $0.90 |
| EPS (Diluted) | $0.89 |
| Shares Outstanding (Basic) | 1.40B |
| Shares Outstanding (Diluted) | 1.41B |
Key Highlights
- 1Net revenues increased 9.2% to $21.1 billion for the nine months ended September 30, 2021, with Organic Net Revenue growing 5.1%.
- 2Operating income saw a substantial increase of 27.6% to $3.4 billion.
- 3Diluted EPS attributable to Mondelēz International grew by 40.4% to $2.33 for the nine-month period.
- 4The company completed several strategic acquisitions in early 2021, including Gourmet Food Holdings, Grenade, and Hu Master Holdings, contributing to revenue growth.
- 5Mondelez is actively managing inflationary pressures through pricing actions and cost control measures as part of its 'Simplify to Grow' program.
- 6The company announced an agreement to acquire Chipita S.A. for approximately €1.7 billion ($2.0 billion), expected to close in the first half of 2022.
- 7Positive cash flow from operations of $2.7 billion for the nine months ended September 30, 2021, supports ongoing investments and strategic initiatives.