Nestlé S.A.'s revenue in 2023 decreased by 1.5%, and it is expected that sales growth will slow down in 2024.
Nestlé S.A. has announced its full-year performance for 2023, with a 1.5% decrease in sales. It is expected that sales growth will slow down in 2024. The total sales amount to 93 billion Swiss francs, with an organic growth of 7.2%. The underlying trading operating profit margin is 17.3%, basic earnings per share are 4.80 Swiss francs, and free cash flow is 10.4 billion Swiss francs. Nestlé S.A. anticipates an organic growth of around 4% in 2024, a slight increase in the underlying trading operating profit margin, and a growth of 6%-10% in basic earnings per share. Furthermore, Nestlé S.A. will prioritize growth driven by volume and product mix, and will boost growth through increased marketing and innovation.
Zhitong App learned that on February 22, Nestlé S.A. announced its full-year performance for 2023. The data shows that Nestlé S.A. had a full-year sales revenue of 93 billion Swiss francs, a 1.5% decrease compared to the previous year; with internal sales growth of 7.2%, mainly driven by extensive growth across regions and categories. The underlying trading operating profit margin was 17.3%, up by 20 basis points. The basic earnings per share were 4.80 Swiss francs. Free cash flow amounted to 10.4 billion Swiss francs.
The Board of Directors of Nestlé S.A. declared a dividend of 3.00 Swiss francs per share, marking the 29th consecutive year of dividend increase for the company. In 2023, the company returned 12.8 billion Swiss francs to shareholders through dividends and share buybacks.
Nestlé S.A. expects an internal growth of around 4% in 2024, a slight increase in the underlying trading operating profit margin, and anticipates a growth of 6%-10% in basic earnings per share.
Anticipating a slowdown in sales growth this year as the pace of price increases moderates, Nestlé S.A. projects to prioritize growth driven by volume and product mix in 2024, aiming to boost growth through increased marketing and innovation. With consumers turning to cheaper products amid the most severe inflation in decades, companies like Nestlé S.A. are seeking to regain market share.
