“For the current year, we expect to deliver on or in excess of our long-term algorithm for all variables.”

In context

“y markets posted double-digit increases for the quarter. Latin America has had its strongest year ever in terms of OI delivery. In fact, OI dollars in Latin America grew 48.5% for the year and more than 45% for the quarter. Broad-based volume growth, pricing and ongoing improvements from the gum and candy categories drove these results. Next to EPS on Slide 16. Full-year EPS grew 11.9% in constant currency. This growth was primarily driven by operating gains. And despite very significant currency headwinds, we grew adjusted EPS as reported ForEx by 3.5%. Turning to Slide 17. We delivered $3 billion of free cash flow for the full-year, including a one-time expense of $300 million related to the Clif acquisition and buyout of its employee stock ownership plan. Turning to outlook on Page 19. For the current year, we expect to deliver on or in excess of our long-term algorithm for all variables. There might still be meaningful variability for the year, so we expect plus 5% to plus 7% organic net revenue growth, which stands from the higher pricing. We also expect on our growth to adjusted EPS of high single-digit. Somewhat like 2022, we expect a slightly different shape related to the P&L with higher topline, strong profit dollar growth and lower than historical margin rate given elevated inflation and related pricing away in dollar terms. As far as assumptions grow, we are planning for another year of double-digit inflation with dollars higher than in 2022. This inflation is driven by the continued elevated cost in packaging, energy, ingredients and labor. This input costs are also more pronounced in Europe and some select emerging markets. We also had favorable coverage versus”