VEVEY (dpa-AFX) - Nestle SA (NSTR.L, NESN.SW) reported that, in the first nine months, total reported sales were 65.9 billion Swiss francs, a decrease of 1.9% from prior year. Organic sales growth was 3.3%, with 0.6% real internal growth and 2.8% pricing. The Group said, by category, coffee and confectionery were the largest organic growth contributors. This growth was pricing-led, with double-digit increases in some markets. In the third quarter, organic sales growth was 4.3%.
Philipp Navratil, Nestlé CEO, said: 'The world is changing, and Nestlé needs to change faster. This will include making hard but necessary decisions to reduce headcount over the next two years. We are increasing our savings target to 3.0 billion Swiss francs by the end of 2027.'
The planned global headcount reduction of approximately 16,000 over next two years, includes: approximately 12,000 white-collar professionals across functions and geographies, and further approximately 4,000 headcount reduction as part of ongoing productivity initiatives in manufacturing and supply chain. Total Fuel for Growth cost savings target has been increased to 3.0 billion Swiss francs, revised from prior target of 2.5 billion francs, by the end of 2027.
For 2025, Nestle projects organic sales growth to improve compared to 2024. The Group remains committed to investing for the medium term.
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