Cadbury Owner Mondelez Reports ‘Robust’ Third Quarter

Mondelez International, the parent company of Cadbury, has reported a significant increase in third-quarter profits as its CEO focuses on reshaping the company’s core portfolio. For the quarter ending September 30, Mondelez’s operating profits surged by 21% to £1.3 billion ($1.7 billion), while net organic sales rose by 5.4% to £7 billion ($9.2 billion), surpassing market expectations.

The company’s quarterly volumes experienced a slight increase of 0.3 percentage points, accompanied by a price hike of 5.1 percentage points. However, Mondelez noted that both sales and profits were impacted by the divestiture of its developed market gum business, which includes brands like Trident and Dentyne, to Perfetti Van Melle, completed in 2024.

Dirk Van de Put, chair and CEO of Mondelez, described the company’s performance as “robust,” highlighting the accelerated growth in revenue, strong earnings, and healthy cash flow generation. He stated, “We posted robust results for Q3, driven by our commitment to executing with excellence across our categories, markets, and brands.”

Van de Put emphasized the company’s ongoing focus on reinvesting in its brands, enhancing distribution, expanding capabilities, and maintaining cost discipline. He also mentioned efforts to strategically reshape the portfolio, including an expanded partnership with Evirth, a leading manufacturer of cakes and pastries in China.

These positive results come despite the UK arm of Mondelez reporting a 33% decline in pre-tax profits, which fell to £88.1 million in the 12 months ending December 31, 2023.