Deerfield / IL. (mdlz) Mondelez International reported its second quarter 2020 results. «We remain focused on the safety and well-being of our colleagues and communities at this time, while continuing to serve our customers in the exceptional circumstances caused by Covid-19. I am proud of how our teams have demonstrated their commitment to our customers and consumers by safely and efficiently maintaining business continuity. I am pleased with our second quarter performance given the challenging environment, with top-line performance driven by Developed Markets and strong share gains in all key markets. Our Emerging Markets performance improved throughout the quarter as store closures eased and consumers in many markets were increasingly able to access our products. While we expect continued volatility and uncertainty from Covid-19, I am confident that our strategy, investments, category fundamentals and execution will enable us to successfully navigate this crisis and emerge stronger,» said Dirk Van de Put, Chairman and Chief Executive Officer.
Summary of second quarter 2020 results
- Net revenues decreased 2.5 percent primarily driven by unfavorable currency impacts, with Organic Net Revenue1 growth of 0.7 percent and incremental net revenues from acquisitions
- Diluted EPS was USD 0.38, down 30.9 percent primarily as a result of costs associated with the JDE Peet’s initial public offering; Adjusted EPS1 was USD 0.63, up 16.1 percent on a constant-currency basis
- Year-to-date cash provided by operating activities was USD 1.6 billion, up USD 0.5 billion versus prior year; Free Cash Flow was USD 1.1 billion, an increase of USD 0.5 billion versus prior year
- Returned USD 410 million of capital to shareholders in the quarter through dividends
- Announcing 11 percent increase to quarterly dividend
For additional information please read the Company’s PDF file below (289 KB):20200729-MONDELEZ-Q2-2020