Investor Presentaiton
Nestlé 2023 Half-Year Results
Thursday 27th July 2023
single-digit price next year? We'll see a deceleration from the 10%, of course. Do you think it'd
still be around 4% or 5% next year?
Mark Schneider, Nestlé S.A. Chief Executive Officer:
So clearly, I was expressing confidence on the organic growth, while at the same time, when
it comes to official guidance, I hope everyone understands in a highly fluid global environment
I think it's good to leave some downside protection. But I hope the underlying confidence on
our top line shows through. In other aspects of our guidance, fully confirmed what we said
earlier in the year. So a very stable financial picture as we cruise through the year. And I hope
everyone appreciates pretty much all the items that we talked about, that would start to turn
middle of the year, have started to turn in our favor. And I think that underlying stability and
also the control of the business is appreciated.
Now when it comes to pricing, I think it's too early here to speculate on '24. Of course,
everything is now all eyes on second half of '23, making good on our plans with a high degree
of precision. '24 obviously it's safe to say that pricing will not reach the same levels as we've
seen in the first half of '23 so far. But it's also clear that when it comes to the overall macro
environment, that pricing on a selective basis where appropriate, will still apply and will still be
needed. You saw some of the commodities that François highlighted where inflation still
persists. And then obviously, in categories that relate to these commodities, we still need to
take the liberty to price where needed.
Luca Borlini, Nestlé S.A, Head of Investor Relations:
Next question is from Céline Pannuti at JPMorgan.
Questions on:
RIG for the Full Year
Margin for H2
Céline Pannuti, JPMorgan:
My first question is on the RIG. So you said that the RIG will bounce back some time in the
second half, I think 0.6% hit from your SKU reduction should be more than offset in the second
half. So I just want to try to gauge whether effectively RIG for the year will be positive, given
we already have some tailwind from the SKU reduction as well as the benefit of the
comparative. And just on that, I'm surprised you don't put capacity constraints easing as one
of the reasons for RIG to improve as well in the second half.
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