JDE Peet’s: reports half-year results 2023

Amsterdam / NL. (jde / eb) JDE Peet’s N.V. (JDE), the world’s largest pure-play coffee and tea group by revenue, published its financial results for the first half of 2023. Since the start of the war in Ukraine, the joint venture of JAB Investors and Mondelēz has sought to ensure that its business in Russia is operated as a «stand-alone business» to the greatest extent possible. That means: Like Mondelēz, JDE has outsourced its Russian business as «stand-alone business». But this business still belongs to the coffee company. Everything else is window dressing. According to leave-russia.org, Mondelēz International belongs to the biggest war winners. What makes it obvious, that JDE belongs certainly not to the war losers.

In the first half 2023, organic sales of JDE Peet’s increased +3.5 percent (+2.4 percent reported), driven by +6.8 percent price and volume/mix of -3.3 percent. Organic adjusted Ebit decreased -3.0 percent to EUR 581 million. For additional information please read the company’s PDF file below (186 KB):