Mondelez International reported solid top-line growth in FY2025 driven by pricing, despite significant headwinds from commodity costs, particularly cocoa. Profitability was impacted by these cost pressures and derivative impacts, leading to a decline in reported EPS. The company generated strong operating cash flow and returned substantial capital to shareholders, while providing an outlook for modest growth in FY2026.
Full year net revenues increased 5.8% to $38.5 billion, with organic net revenue growth of 4.3%.
positiveQ4 reported net revenues increased 9.3% to $10.5 billion, with organic net revenue growth of 5.1%.
positiveFull year operating cash flow was $4.5 billion.
positiveFull year free cash flow was $3.2 billion.
positiveThe company returned $4.9 billion to shareholders in cash dividends and share repurchases in FY2025.
positiveAdjusted Operating Income margin in Q4 increased 190 basis points to 11.9% on a constant currency basis.
positiveFull year reported diluted EPS declined 44.7% to $1.89, primarily due to unfavorable mark-to-market impacts from commodity and foreign currency derivatives and a decrease in Adjusted EPS.
negativeFull year gross profit margin decreased 10.7 percentage points to 28.4%, driven by unfavorable mark-to-market impacts and a decrease in Adjusted Gross Profit margin due to higher raw material costs and unfavorable product mix.
negativeFull year operating income margin was 9.2%, down 8.2 percentage points, primarily due to unfavorable mark-to-market impacts and lower Adjusted Operating Income margin.
negativeFull year Adjusted EPS declined 14.6% on a constant currency basis.
negativeVolume/Mix was unfavorable across all segments for the full year, with North America at -2.7% and Europe at -5.3%.
attentionFull year free cash flow decreased by $288 million to $3.2 billion compared to the prior year.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Latin America | N/A | — | — | — | +4.6% |
Asia, Middle East & Africa | N/A | — | — | — | +5.7% |
Europe | N/A | — | — | — | +8.6% |
North America | N/A | — | — | — | -1.9% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Delivered solid top-line results, generated strong cash flow, and returned significant cash to shareholders in a dynamic and challenging 2025 environment.
Unprecedented cocoa cost headwinds impacted our profitability, but teams remained focused on what they can control to best position us for sustainable, profitable growth.
Executing clear plans to create multi-year shareholder value through improved volumes, brand investments, structural cost savings and disciplined capital allocation coupled with stabilizing cocoa costs.
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