“Pricing contribution will be clearly less important than this year, but we still see pricing contributing more than an average year, particularly as we need to price for cocoa, sugar and other commodities.”

In context

“r. So this is not really a like-for-like. And I think you're going to like you realize the EPS and continued profit expansion in Q4. I also want to reassure you that the emerging markets are doing very, very, very well. And we don't necessarily disclose numbers, but EBIT is up more than 20% in emerging markets on a year-to-date basis in real dollar terms. So these are, again, a market that can be volatile. But in the end, they deliver a good profit for us. On '24, we are clearly in the process of finalizing our plan, but I can give you a little bit of the soundbites around '24. First of all, I think it is undeniable that the business is having good momentum, and that momentum from where we sit today will continue as we enter into -- as we go into '24, both in terms of top and bottom line. Pricing contribution will be clearly less important than this year, but we still see pricing contributing more than an average year, particularly as we need to price for cocoa, sugar and other commodities. A good portion as we went through the plans with the majority of the business units, a good portion of growth in both in developed and emerging markets will be coming through distribution expansion. And that will help preserve volume momentum into '24. And I think you know that our categories in emerging markets are underpenetrated, and we have made investment to really continue to grow. Platforms that we have acquired in recent months like Clif and Ricolino are progressing very well. And they will deliver more synergies as we go into '24. And while I don't have a number on the gum divestiture to disclose to you, the idea that we have is really to get rid of all the stranded costs associated with the divestiture of gum in developed markets. So I can't be more precise, but so far, so good”