“Our outlook for '23 remains optimistic, and we have to invest in capacity increases, which we are doing.”

In context

“led and were expecting. Organic sales were up 25% and I guess I'm just looking for some color on some key drivers and maybe more importantly, sort of on the sustainability of the performance and how we should think about that as the year progresses? Dirk Van de Put: Okay. Yes, so definitely a very strong performance this quarter, but I would say already for several quarters that we have strength in our emerging markets. Our emerging markets for us are about 40% of our business, and as you said 25% growth in Q1. I think it's important also to see that there has been very strong or solid volume growth around 4%, 4.5% 5%. So it's not just the pricing. If I go a little bit through the markets, India keeps on growing at a very accelerated pace, strong double-digit, no real signs of a slowdown. Our outlook for '23 remains optimistic, and we have to invest in capacity increases, which we are doing. But as you know, it's a combination of the strength of our Cadbury and Oreo franchises who are receiving heavy support with strong innovations and as well a distribution expansion, where we still have a runway for several years to go. In China, we also have strong momentum. There we also see good share gains. We have in the past quarters been establishing Chips Ahoy! as a second biscuits brands after Oreo business as you noticed, mainly Biscuits and gum. And I think with the post-COVID period now in China, we see the confidence of the consumer going up and we're expecting a strong year in China also. Same thing as in India, heavy support in our brands, good innovations, building extra capacity and still big upside on increasing our distribution. In Mexico, we now with the acquisition of R”