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CLAIM #39609 · Mondelez International Inc (MDLZ) · 2023Q1 earnings call · Apr 27, 2023 · due Dec 31, 2023

Given stabilization of the supply chain, we feel confident that share will continue to improve during the year in the U.S.

Luca Zaramella · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

year too. Chocolate grew more than 18% with significant growth across both developed and emerging markets. Volume was positive, despite some customer disruptions in Europe, albeit lower-than-anticipated. Cadbury Dairy Milk, Milka, Lacta and Toblerone all delivered robust growth. And we had a record Easter selling, that based on preliminary data also resulted in record high sellout. Gum and candy grew 35% with robust growth across all of our key markets. Now let's review market share performance on slide 13. We held or gained share in 60% of our revenue base, which includes 10 points of headwinds coming from EU customer disruption. The U.S. continues to make service level improvements and in Q1 with good on-shelf availability and case fill rates, resulting in share being flat to last year. Given stabilization of the supply chain, we feel confident that share will continue to improve during the year in the U.S. Turning to page 14, we delivered strong double-digit to OI dollar growth driven by a gross profit increase of more than $540 million. These results enable us to continue to significantly fund our business for future growth, while also providing strong earnings and cash flow. Moving to regional results on slide 15, we delivered double-digit revenue growth and posted volume mix increases in all regions. This growth, fueled by pricing and volume leverage drove robust OI dollar growth across all regions. Europe grew plus 18.9% with high-single-digital OI growth. We have made progress in lending expected pricing increases with circa 80% of our customers and with lower disruption than we anticipated. We are still planning for some disruption in Q2, which has been factored into our revised outlo

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SEC filings for MDLZ · Claim quote is verbatim from the 2023Q1 earnings call.