Fri. Feb 28th, 2020

Nestlé increases its profit by 24.4% in 2019, up to 11.8 billion euros

The Swiss multinational of food Nestlé increased its net profit by 24.4% in 2019, to 12.6 billion Swiss francs (11.8 billion euros, 12.8 billion dollars), compared to a year earlier, the company announced today.

The sale last October of Nestlé Skin Health to a consortium formed by investors from Sweden, United Arab Emirates and Canada, for 9,350 million euros (10,100 million dollars), was one of the main contributors to the result, the company said in its report annual.

Nestlé reported sales last year worth 92.6 billion Swiss francs (87,000 million euros, 94,000 million dollars), an increase of 1.2% compared to 2018, mainly supported by the increase in business in markets such as the US, Brazil and Western Europe, while showing doubts in China.

By categories, the highest growth occurred in the company’s pet food division (Purina Pro Plan and Purina ONE), as well as Starbucks coffee.

By 2020, the firm predicts a continued increase in sales, and expects that the outbreak of the Wuhan coronavirus will have a financial impact, although he stressed that it is “too early” to quantify its effects.

In January, the firm closed its sale of its ice cream division in the United States to Froneri for 3,600 million euros (4,000 million dollars), and also prepares the sale of 60% of its stake in the Spanish delicatessen firm Herta Casa Tarradellas, as announced at the end of last year.

The Nestlé board of directors will propose a dividend of 2.70 Swiss francs (2.53 euros, 2.76 dollars) per share at the General Assembly on April 23, 10.2% more than last year.


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