Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| Along with our category focus, our solid volume growth across both developed and emerging markets, represent another important competitive advantage |
| This capability holds great promise for our future acquisition playbook |
| And the end result has been more growth, a better value proposition for shareholders and importantly, consistently compounding returns |
| So we – the combination of this phasing in the consumer spending and the strong activation that we have behind our brands make us confident about the year |
| Pilot programs in other markets around the globe are very promising and we are excited about the opportunity to apply those learning's in the United States |
| Integration has gone very well, meeting all our key milestones across sales, marketing, supply chain R&D and IT |
| 2023 was a record growth year on both the top and bottom line with substantial reinvestment to drive continued growth in the years ahead |
| We also expect great personalization, enabling us to personalize nearly all digital media to further differentiate our brands |
| We also delivered record adjusted gross profit dollar growth of $2.2 billion, which fueled an increase in our A&C investments by more than 21%, helping to drive consumer and customer loyalty |
| As a result, we are confident in our path to deliver sustained low to mid single-digit revenue growth reliable in the years to come |
| And we remain very confident that our virtuous cycle of reinvesting half of our gross profit dollar growth, which fuels local-first commercial execution and increased investment in our brands, capabilities and talent will enable us to continue delivering attractive, sustainable top and bottom line growth |
| We drive value through strong integration and by leveraging our global footprint distribution strength, marketing expertise and financial discipline |
| We're especially proud of our team's continued success in delivering across all of our key performance metrics, which include volume, revenue, earnings and cash flow, despite the fact that we went through significant volatility |
| We do believe that, we have the right strategy, the right model, the right incentives and the right people to continue to deliver strong results |
| We're confident that continued growth of our investment in our widely loved brands with double-digit increase in advertising and consumer spend offers an important competitive advantage |
| Along with our financial performance, I'm pleased to share that we are making significant progress towards our sustainability goals and targets |
| The 7Days brand has a leading position in Europe with an attractive footprint that spans across developed and emerging markets |
| Second is customer engagement, which is a multiyear digital sales transformation to drive best-in-class revenue management and sales execution |
| Third, we are making solid progress in helping to combat climate change with significant reductions in CO2 emissions, food waste and water usage |
| In 2023, we grew share, improved profitability through productivity and manufacturing efficiencies and increased our store coverage by more than 20% |
| Grenade is another great story, a rapidly expanding protein and energy bar that began in the UK |
| We continue to believe that helping to drive positive change at scale is an integral part of our value creation with positive returns for our stakeholders |
| Grenade has also successfully leveraged other brands for innovation such as Oreo, driving high engagement and recruiting new consumers |
| In 2023, this business posted double-digit growth, ongoing margin improvement and strong share performance |
| As you can see our business is well-positioned to drive even stronger growth in the years ahead |
| Our leadership in DSD enabled us to win in store, gain distribution and maintain excellent relationship with the trade |
| Our plan to further accelerate growth has four key pillars; revenue growth management, channel expansion, digital leverage across the entire value chain, and best-in-class consumer marketing |
| Direct store delivery is one of our key competitive advantages in biscuit reaching 25,000 outlets spanning 170,000 routes |
| Snack brand loyalty is even stronger in North America at 84% |
| Taken together these consumers' insights give us confidence that snacking remains a great business |
| Statement |
|---|
| We still see softness in the biscuit category |
| Then there is some softness in the biscuits category, so we observed that in Q4 |
| It happens to be that we have to do quite a bit of price increase so the percentage gross margin came down |
| We did $1.2 billion, but the percentage gross margin came down |
| In Q2, we're going to have all the – not the benefit but we are again overlapping the student loans repayment that is also affecting consumers' pockets |
| As you all know the pandemic driving the increases in commodity and labor cost a few years back created a very challenging price environment |
| I'm not that excited about that |
| Costs will come down eventually |
| So we have inventory that went from Q4 to Q3, and that affect our Q4 volumes |
| It looked like there was a lot of transitory issues |
| So, I don't expect necessarily our total category growth to slow down in the second part of the year |
| First of all, my voice is not as good as it should be |
| I want to apologize |
| The Nielsen data hasn't quite recovered yet |
| So we need to move volumes to make it profitable |
| And how do you manage product forms in that distribution system that have varying levels of velocity on the shelf, which I know can be challenging for a system like that? Thank you |
| Hope it's a little bit less |
| So we decided in 2023 to slow down this business and it's a business that we're prepared the entire year to sell in the last quarter, but the sales effectively happened in the last quarter |
| This is a low-margin business with a lot of waste at the end of the year, because whatever does not sell come back to the company |
| I think it is important to remember that particularly in cocoa, given the current situation, it is common to industry price increase, most likely that will have to be taken |
Please consider a small donation if you think this website provides you with relevant information