Mondelez International (MDLZ) Barclays 19th Annual Global Consumer Conference summary

Business resilience and growth drivers

• Snacking, especially chocolate and biscuits, remains resilient with strong consumer loyalty and growth potential, particularly in emerging markets and through premiumization trends in developed markets.

• Heavy investments in brands, digital, and route-to-market capabilities, along with supply chain modernization, are expected to drive incremental earnings and fuel growth.

• The company is reinvesting upside into high-performing areas, focusing on emerging markets, innovation, and growth channels, absorbing costs from geopolitical conflicts without compromising guidance.

North America and Europe performance

• North America has improved through a revamped promotional strategy, channel expansion, increased investment, and innovation, with sustainable gains expected.

• Growth in North America is expected to continue even in a sluggish category environment, driven by multi-year plays in channel expansion, innovation, and supply chain flexibility.

• Europe shows improving volume and share trends, with opportunities in chocolate, biscuits, seasonal products, and adjacencies like cakes and snack bars, supported by supply chain upgrades.

Commodity and competitive landscape

• Cocoa market volatility has stabilized, with current pricing seen as adequate and competitors behaving rationally; supply is now more balanced, reducing risk.