Nestlé reports full-year results for 2022

Nestlé reports full-year results for 2022

Dubai, United Arab Emirates:

- Net acquisitions had a positive impact of 1.1%. Foreign exchange decreased sales by 0.9%.

- Organic growth reached 8.3%. Pricing was 8.2%, reflecting significant cost inflation. Real internal growth (RIG) was positive at 0.1%. Organic growth was broad-based across most geographies and categories.

- The underlying trading operating profit (UTOP) margin was 17.1%, decreasing by 30 basis points on a reported basis and by 40 basis points in constant currency. The trading operating profit (TOP) margin was unchanged at 14.0%.

- Underlying earnings per share increased by 9.4% in constant currency and by 8.4% on a reported basis to CHF 4.80. Earnings per share decreased by 43.5% to CHF 3.42 on a reported basis, mainly reflecting the 2021 gain on the disposal of L'Oréal shares.

- Free cash flow was CHF 6.6 billion, as working capital increased temporarily in the context of supply chain constraints and capital expenditure remained above historic trendlines.

- Board proposes a dividend of CHF 2.95 per share, an increase of 15 centimes, marking 28 consecutive years of dividend growth. In total, CHF 18.2 billion were returned to shareholders in 2022 through a combination of dividend and share buybacks.

- 2023 outlook: we expect organic sales growth between