Nestlé said its sales and operations grew better than expected and maintained its outlook for 2025 as a whole, as the world's largest packaged food company reported its first results since appointing Philippe Navratil as CEO.
Navratil replaced Laurent Freix, who was dismissed in September due to an undisclosed relationship with a subordinate.
Nestlé has been experiencing unprecedented management turmoil in the recent period.
Real internal growth, a measure of sales volume, rose 1.5 percent in the third quarter, well above analysts' expectations of a 0.3 percent increase. This could provide some breathing room for Navratil as he looks to make his mark after his surprise takeover.
The Swiss company, which makes Kit Kat chocolate bars, Nespresso coffee, and Maggi seasoning mixes, is working to revive flagging sales growth and stem a significant share price decline, amid rising costs and mounting debt levels amid investor pressure.
Nestlé reported that organic sales, which exclude the impact of foreign exchange fluctuations and acquisitions, rose 4.3 percent during the quarter, exceeding analysts' expectations of 3.7 percent growth.
The company maintained its outlook for 2025 as a whole, confirming that organic sales growth will improve compared to 2024 and that the underlying commercial operating profit margin will reach 16 percent or greater.
