Purina PetCare was the largest contributor to organic growth in Nestlé’s 2023 full-year results, with strong momentum for both wet and dry offerings.
Purina ONE, Purina Pro Plan and Friskies all recorded double-digit growth, while sales of Purina Pro Plan reached almost CHF 3 billion (AUD $5.2 billion).
In Zone Asia, Oceania, and Africa (AOA), Purina PetCare saw mid-single-digit growth, led by Purina One, Supercoat, and Felix. Infant nutrition was the largest growth contributor for AOA.
Nestlé’s total reported sales were CHF 93 billion (AUD $161.7 billion), a decrease of 1.5 per cent on FY22, while total company organic growth reached 7.2 per cent.
Mark Schneider, CEO of Nestlé, said unprecedented inflation over the last two years has increased pressure on many consumers and impacted demand for food and beverage products.
“In this challenging context, we delivered strong organic growth and solid margin improvement with increased marketing and other growth investments. Our free cash flow generation returned to historical levels.”
Looking to 2024, Schneider said they are prioritising volume and mix-led growth with increased brand support, as they enhance value for consumers through active innovation and renovation, premiumisation, affordability, and more nutritious options. They will continue to focus capital allocation on their fast-growing billionaire brands, which enables them to deliver dependable growth while enhancing brand loyalty.
“To drive market share gains, our key priorities are delighting consumers through differentiated offerings and focusing on superior execution. We are confident that we have the right strategy, portfolio and capabilities to deliver on our 2025 targets,” said Schneider.
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