Nestlé reports nine-month sales for 2020

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Nestlé

Organic growth reached 3.5%, with real internal growth (RIG) of 3.3% and pricing of 0.2%. Growth was supported by continued strong momentum in the Americas, Purina PetCare and Nestlé Health Science. Zone AOA reached 4.5% organic growth in the third quarter.
Divestitures and foreign exchange reduced sales by 12.9%. Total reported sales decreased by 9.4% to CHF 61.9 billion (9M-2019: CHF 68.4 billion).
Nestlé’s current strategic reviews are fully on track. Further progress in portfolio management was made. The acquisition of Aimmune Therapeutics was completed on October 13, 2020.
Full-year guidance for 2020 updated: We expect full-year organic sales growth around 3%. The underlying trading operating profit margin is expected to improve. Underlying earnings per share in constant currency and capital efficiency are expected to increase.
Dairy grew at a high single-digit rate, based on increased demand for fortified milks and home-baking products.
E-commerce sales grew by 47.6%, reaching 12.3% of total Group sales.