Mondelez International (MDLZ) Deutsche Bank dbAccess 2024 Global Consumer Conference summary

Strategic focus and growth drivers

• Shifted from cost-cutting to growth by reorganizing, revamping marketing, and focusing on both global and local brands, leading to above-algorithm financial performance.

• Growth opportunities include geographical expansion, improved execution, continued bolt-on acquisitions, and increased innovation.

• Strong balance sheet supports ongoing investments and acquisitions, with a disciplined approach to M&A and integration.

• Positioned to capitalize on vibrant snacking categories, with a global footprint and leading brands in key markets.

Consumer trends and category performance

• Post-COVID, snacking increased, but U.S. consumers now face financial pressures, leading to channel shifts, increased promotion sensitivity, and reduced purchase quantities.

• Emerging markets show resilience due to price pack architecture, maintaining consumer access at key price points.

• Sweet and savory snacks, especially chocolate and biscuits, remain attractive due to rising snacking frequency among younger generations and low per capita consumption in many markets.

• Expansion into bars and cakes leverages health trends and fragmented categories for further growth.

Pricing, distribution, and operational adjustments

• U.S. biscuit category faces volume declines due to price sensitivity; short-term promotions and long-term pack changes planned, with effects expected into next year.

• European pricing negotiations completed with minimal disruption; strong execution during key seasons like Easter.

• Distribution expansion targets three million new stores by 2030, focusing on emerging markets like India, China, and Brazil, with a mix of new outlets and increased same-store sales.

• Developed markets see efforts to improve presence in discounters and convenience stores, with a $1 billion opportunity identified in U.S. convenience channels.