Mondelēz International has suffered 2.5% drop in second-quarter reported revenue after strong demand in North America was offset by declines elsewhere and unfavourable currency impacts. On an organic basis, revenue edged up 0.7% to $5.91bn.
The owner of the Cadbury and Oreo brands saw 11% growth in organic revenue in North America amid strong demand for its products during the pandemic.
Europe recorded a 1.2% drop in organic revenue, although the region remained the company’s largest market with sales of over $2.1bn.
Emerging markets performance was impacted by coronavirus restrictions. Latin America witnessed an 11.3% decline in revenues, whilst its Asia, Middle East & Africa unit was down 3.1%.
“I am pleased with our second-quarter performance given the challenging environment, with top-line performance driven by developed markets and strong share gains in all key markets,” said Dirk Van de Put, Mondelēz chairman and CEO.
“Our emerging markets performance improved throughout the quarter as store closures eased and consumers in many markets were increasingly able to access our products.
“While we expect continued volatility and uncertainty from Covid-19, I am confident that our strategy, investments, category fundamentals and execution will enable us to successfully navigate this crisis and emerge stronger.”