Mondelez (ex Kraft), Deerfield, Illinois, USA, posted a full-year 2016 net revenue decline of 12.5% and organic net revenue growth of 1.3%. The company had forecast at least 2% organic net revenue growth for 2016. Mondelez’s Chairwoman and CEO Irene Rosenfeld cited lower GDP growth, currency and commodity volatility, the Indian banknote demonetarization, the uncertain impact of the Brexit vote as well as complex developments in the political landscape as reasons for the sharp drop in revenues. „The impacts from these events are being felt across many companies and industries – and we are not immune.“Mondelez’s fourth quarter net revenues were down 8.1%. Rosenfeld commented: “While we are encouraged by our results in 2016, we acknowledge that our top line is not yet where we want it to be.
The company’s gross profit declined 12% to US$10.1 bn for 2016, while net earnings dropped 77.2% to US$1.7 bn. However, Rosenfeld said that the company was well-positioned for future growth. Throughout the year”, Chairwoman Rosenfeld said, “we continued to sharpen the focus of our portfolio, increase Power Brand investments and modernize our supply chain.” The company expects the Organic Net Revenue to increase at least 1% in and Adjusted Operating Income margin in the mid 16% range.