Mondelez has beaten analysts’ forecasts as its sales volumes pick up again in Europe and North America, especially for some lower-priced products. Meanwhile, the multinational remains hungry for acquisitions.
“Everyday indulgence”
Efforts to offer its products at different price points are yielding results: the manufacturer reported a rising demand for sweets and biscuits priced between three to four dollars (2.7 to 3.7 euros), as consumers seek cheaper alternatives. Particularly in Europe and North America, volumes are rising again.
In the third quarter of 2024, the multinational achieved sales worth 9.2 billion dollars (8.5 billion euros), better than what analysts had forecast. Profits too came in above expectations. “Consumers are continuing to embrace chocolate and biscuits as everyday indulgence”, Reuters quotes CEO Dirk Van de Put. The Belgian national added that consumers have remained loyal to their favourite brands.
To continue its growth, Mondelez is taking a majority stake in Chinese cake and pastry producer Evirth. The company will continue to look for acquisition opportunities, the CEO pointed out, saying his company will continue to invest in its brands, encourage mergers and acquisitions and scale up ‘sustainable snacking’.
