NSRGF - Nestlé S.A. Non-GAAP EPS of CHF2.13 revenue of CHF46.3B

July, 27 2023 03:33 AM Nestle S.A Reg Ord

2023-07-27 03:33:41 ET

Nestlé S.A. ( OTCPK:NSRGY ): 1H Non-GAAP EPS of CHF2.13.
Total reported sales increased by 1.6% to CHF 46.3 billion (6M-2022: CHF 45.6 billion). Foreign exchange decreased sales by 6.7%. Net acquisitions had a negative impact of 0.4%.
The underlying trading operating profit margin was 17.1%, up 20 basis points on a reported basis and 30 basis points in constant currency. The trading operating profit margin increased by 120 basis points to 15.9% on a reported basis, reflecting one-off items in the prior year.
Underlying earnings per share increased by 11.1% in constant currency and increased by 4.1% on a reported basis to CHF 2.43. Earnings per share increased by 10.6% to CHF 2.13 on a reported basis.
Free cash flow increased by CHF 1.9 billion to CHF 3.4 billion, mainly reflecting lower inventory levels.
Full-year 2023 outlook updated: we are increasing organic sales growth guidance to a range of 7% to 8%. The underlying trading operating profit margin is expected to be between 17.0% and 17.5%. Underlying earnings per share in constant currency is expected to increase between 6% and 10%.

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