The multinational ‘snacks’ and soft drinks PepsiCo closed the second quarter with an attributable net profit of 2,748 million dollars, which is equivalent to an advance of 92.3 % compared to the same period of the previous year, according to the accounts published by the company, which has revised its expectations for 2023 upwards.
The results of the American company in the second quarter of last year were exceptionally penalized by the adverse impact of the impairment of the value of the assets and write-offs of the company in Russia.
Net income in the quarter amounted to 22,322 million dollars, 10.4 % more in absolute values and 13 % more in organic data, which excludes the impact of the exchange rate and variations in the company’s accounting perimeter.
The multinational applied in the quarter a price increase of 15 % on average, which reached 2 % in Europe, while the volumes sold decreased by 2 %.
Between April and June, PepsiCo increased sales of Frito-Lay by 14 %, up to 5,904 million dollars and those of PepsiCo Beverages North America by 10 %, up to 6,755 million dollars.
In the case of Europe, the multinational’s sales increased by 13 %, up to 3,428 million dollars and 18 % in Latin America, up to 2,856 million dollars.
In Asia-Pacific, Australia and New Zealand, PepsiCo’s turnover increased 1 %, to 1,127 million dollars, while in Africa, the Middle East and Southeast Asia it fell 8 %, to 1,568 million dollars.
“We are very satisfied with our performance in the second quarter, since our commercial momentum continues to be solid,” said the president and CEO of the multinational, the Spanish Ramón Laguarta,
“Our strong performance and the progress we are making on our strategic priorities give us confidence that the investments we are making to become an even faster, even stronger and even better organization,” the executive added.
In this way, in the first semester PepsiCo obtained an attributable net profit of 4,680 million dollars, 17.7 % lower than that recorded in the first half of last year, while net income totaled 40,168 million dollars, 10.3 % more.
Source: dpa
(Reference image source: WrS.tm.pl, Unsplash)
Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram
