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Nestlé remained resilient in a difficult and volatile environment, says Schneider

The company's organic growth reached 3.5%, with real internal growth (RIG) of 3.3% and pricing of 0.2%. Growth was supported by continued strong momentum in the Americas, Purina PetCare and Nestlé Health Science. Zone AOA reached 4.5% organic growth in the third quarter.

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Dubai – Nestlé has remained resilient in a difficult and volatile environment, said Mark Schneider, Nestlé CEO as the company released its nine months results.

Schneider said: “Our people have acted in a responsible and prompt manner to mitigate the impact of the global pandemic and have adapted quickly to evolving consumer needs. Strong organic growth was broad based and supported by sustained momentum in the Americas, Purina PetCare and Nestlé Health Science, as well as the acceleration of our coffee business in the third quarter.”

The company’s organic growth reached 3.5%, with real internal growth (RIG) of 3.3% and pricing of 0.2%. Growth was supported by continued strong momentum in the Americas, Purina PetCare and Nestlé Health Science. Zone AOA reached 4.5% organic growth in the third quarter.

Divestitures and foreign exchange reduced sales by 12.9%. Total reported sales decreased by 9.4% to CHF 61.9 billion (9M-2019: CHF 68.4 billion).

Nestlé’s current strategic reviews are fully on track. Further progress in portfolio management was made. The acquisition of Aimmune Therapeutics was completed on October 13, 2020.

“We expect full-year organic sales growth around 3%. The underlying trading operating profit margin is expected to improve. Underlying earnings per share in constant currency and capital efficiency are expected to increase,” said Schneider.

“We continue to develop our portfolio with speed and discipline. As an example, we are transforming Nestlé Health Science into a nutrition and health powerhouse through a combination of strong organic growth and targeted acquisitions. The recent additions of Zenpep, Vital Proteins and Aimmune Therapeutics are further steps in the expansion of our nutritional health offerings.”

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