REPORTING THIRD QUARTER 2022 EARNINGS

Tuesday, November 01, 2022

On November 1, 2022, we reported our third quarter 2022 results.

"Our third quarter performance demonstrates the resilience of our snacking categories, strength of our brands, broad-based net revenue growth of both our emerging and developed markets, effective execution of pricing, and solid volume growth, enabling us to raise our full-year revenue and earnings outlook,” said Dirk Van de Put, Chairman and Chief Executive Officer. Despite ongoing macro volatility, we remain focused on executing against our strategy and delivering on items we can control, including supporting our brands and retaining healthy volumes, while continuing to deliver strong profit dollar growth and long-term share gains.”

Third Quarter Highlights

• Net revenues increased +8.1% driven by Organic Net Revenue¹ growth of +12.1% with underlying Volume/Mix of +0.7%
• Diluted EPS was $0.39, down 56.2%; Adjusted EPS¹ was $0.74, up +15.7% on a constant-currency basis
• Year-to-date cash provided by operating activities was $2.5 billion, a decrease of $0.2 billion versus prior year; Free Cash Flow¹ was $1.9 billion, down $0.2 billion versus prior year
• Return of capital to shareholders was $3.3 billion year-to-date
• Raising both Organic Net Revenue growth outlook to 10%+ and Adjusted EPS growth outlook to 10%+
• Closed Clif Bar acquisition, helping to create an annual $1+ billion global snack bar business
• Closed Ricolino acquisition, doubling the size of our Mexico business
• Announced incremental investment into Cocoa Life program to reach a total of $1.0 billion and expand our goal to source all our cocoa volume from Cocoa Life by 2030

Leadership Announcements

The company announced three new members of its senior management team:

• Frank Cervi has been named Chief Supply Chain Operations Officer. A proven leader with more than 30 years of global supply chain experience, Cervi most recently served as the company’s head of supply chain strategy.
• Daniel Ramos has been named Chief Research & Development Officer, effective November 8. Ramos is a seasoned global executive with more than 25 years of R&D and consumer-centric innovation expertise. He joins Mondelēz International from The Estée Lauder Companies, where he had a strong focus on advancing sustainable packaging initiatives.
• Javier Polit, the company’s Chief Digital & Information Officer, is now serving on the Mondelēz International Leadership Team – providing enhanced strategic oversight as the company advances its commitment to becoming the digital snacks leader.

For more information, see our press release here.

1. Organic Net Revenue, Adjusted Gross Profit (and Adjusted Gross Profit margin), Adjusted Operating Income (and Adjusted Operating Income margin), Adjusted EPS, Free Cash Flow and presentation of amounts in constant currency are non-GAAP financial measures. Please see discussion of non-GAAP financial measures at the end of the press release for more information.