Nestlé has published its three-month sales for 2024, reporting 1 per cent organic growth for Nespresso.
As part of the report, Nestlé announced for Nespresso organic growth at 1 per cent, with pricing of 1.2 per cent. RIG was -0.2 per cent, which was impacted by the phasing of commercial activities.
The report goes on to detail foreign exchange negatively impacting sales by 5.1 per cent, with Nespresso reported sales decreasing by 4.1 per cent to CHF 1.5 billion. North America saw sales grow at a mid single-digit rate with market share gains, while Europe posted slightly negative growth.
According to Nestlé, Nespresso growth was propelled by the Vertuo system which continued to generate broad-based momentum. Growth in out-of-home channels was also robust, fuelled by further adoption of the Momento system.
Nestlé’s whole-company three-month sales reported 1.4 per cent of organic growth, with pricing of 3.4 per cent and RIG of -2 per cent. Total reported sales were CHF 22.1 billion, a decrease of 5.9 per cent.
Mark Schneider, Nestlé CEO, says: “We had expected a slow start and see a strong rebound in RIG in the second quarter with reliable delivery for the remainder of the year. A wide range of growth initiatives across the Group are now starting to deliver.
“In North America, we have stepped up our innovation intensity and commercial activities, primarily in frozen food, which lost ground in the first quarter. The integration plan for Nestlé Health Science’s vitamins, minerals and supplements business is on track, with the turning point expected in the second quarter and strong growth thereafter.
“Nestlé’s top priorities remain to execute with excellence, leverage our science and nutrition expertise and drive growth with our billionaire brands. We reiterate our 2024 guidance and look ahead with confidence.”
