Mondelēz International Reports 2018 Results

Full-Year Highlights

• Net revenues increased 0.2% despite unfavorable currency and divestiture impacts; Organic Net Revenue¹ grew 2.4%, with balanced volume/mix and pricing
• Gross profit grew $318 million (+3%); Adjusted Gross Profit¹ grew $352 million (+4%) on a constant currency basis
• Operating income declined $150 million (-4%); Adjusted Operating Income¹ grew $257 million (+6%) on a constant currency basis
• Diluted EPS was $2.28, up 23% driven primarily by an after-tax gain on the Keurig Dr Pepper transaction; Adjusted EPS¹ was $2.43, up 15% on a constant-currency basis, driven by operating gains, share repurchases, equity income & tax favorability
• Cash provided by operating activities was $3.9 billion; Free Cash Flow¹ was $2.9 billion
• Return of capital to shareholders was $3.4 billion

DEERFIELD, Ill., Jan. 30, 2019 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ: MDLZ) today reported its fourth quarter and full-year 2018 results.

“Our fourth quarter and full-year 2018 results demonstrate the power of our brands, the strength of our global footprint and the potential of our strategic plan,” said Dirk Van de Put, Chairman and CEO. "We delivered on our key financial and strategic commitments for the year, including solid top-line and bottom-line growth and strong cash flow generation. In 2019, we will continue to progress against our new strategy, which includes new investments to drive organic revenue growth and operational excellence across the organization."

Key Strategic Initiatives

• Launched a new approach to marketing including more balanced investment across both global and iconic local brands to fully leverage the company’s portfolio and category-leading positions
• Developed a more locally-oriented commercial structure to drive greater consumer focus, improve speed and reduce complexity
• Introduced new incentive structure effective in 2019 to drive better alignment with key financial metrics to reward entrepreneurial behavior and quality of results
• Initiated expansion of research, development and quality capabilities to drive innovation, including a new technical center in India and additional investment in a state-of-the-art facility in Poland
• Deployed ‘test, learn and scale’ approach to innovation and launched SnackFutures, an innovation hub focused on the invention and reinvention of new brands, and venturing with entrepreneurs to seed new businesses in key strategic areas
• Announced divestiture of non-core cheese business in the Middle East & Africa, increasing the company’s focus on snacking
• Committed to making all packaging recyclable by 2025 to help deliver the company’s long-term vision for zero-net waste packaging and expanded the Cocoa Life sustainability program in Brazil

See more results here.