REPORTING FIRST QUARTER 2025 EARNINGS

Sound Execution Despite Significant External Volatility

+3.1%

Q1 Organic Net Revenue Growth

Tuesday, April 29, 2025

On April 29, 2025, we reported our first quarter 2025 results.

"We delivered solid Q1 2025 results in line with our expectations, driven by strong execution of our growth strategy while navigating unprecedented cocoa cost inflation,” said Dirk Van de Put, Chair and Chief Executive Officer. “Our Q1 pricing and share performance, along with the global strength of our categories, provide us with continued confidence in our full-year outlook. We remain committed to delivering against our strategic agenda and staying agile in this volatile operating environment to drive sustainable shareholder value."

First Quarter Results

  • Net Revenues +0.2%, Organic Net Revenues1 +3.1%, Volume/Mix -3.5%
  • Diluted EPS declined -70.2% to $0.31
  • Adjusted EPS1 was $0.74 which declined -18.3% on a constant currency basis
  • Cash provided by operating activities was $1.1 billion
  • Free Cash Flow1 was $0.8 billion
  • Return of capital to shareholders was $2.1 billion
Sound Execution Despite Significant External Volatility

For more information, see our press release here.

  1. Organic Net Revenue, Adjusted Gross Profit (and Adjusted Gross Profit margin), Adjusted Operating Income (and Adjusted Operating Income margin), Adjusted EPS, Adjusted EPS incl. developed market gum, Free Cash Flow and presentation of amounts in constant currency are non-GAAP financial measures. Please see discussion of non-GAAP financial measures at the end of the press release for more information.