Nestlé S.A. (NSRGY) Q3 2023 Earnings Call Transcript

Nestlé S.A. (OTCPK:NSRGY) Q3 2023 Earnings Conference Call October 19, 2023 7:00 AM ET

Company Participants

Luca Borlini - Head, Investor Relations
Mark Schneider - Chief Executive Officer
Francois Roger - Executive Vice President & Chief Financial Officer

Conference Call Participants

Guillaume Delmas - UBS
Warren Ackerman - Barclays
Celine Pannuti - JPMorgan
Patrik Schwendimann - Zurcher Kantonalbank
Jeremy Fialko - HSBC
Bruno Monteyne - Bernstein
James Edwardes Jones - RBC
Tom Sykes - Deutsche Bank
Jeff Stent - Exane
Victoria Petrova - Bank of America
Pascal Boll - Stifel

Luca Borlini

Good afternoon and good morning to everyone. Welcome to the Nestlé Nine Months 2023 Sales Webcast. I'm Luca Borlini, Head of Nestle Investor Relations. Today I'm joined by our CEO, Mark Schneider; and our CFO, François Roger.

As usual, Mark will begin with the key messages and discuss the full year 2023 guidance. François will follow with a review of the nine months 2023 sales figures. We will then open up lines for your questions. Before we begin, please take note of our disclaimer.

And now I hand over to Mark.

Mark Schneider

Thank you Luca and a warm welcome to our conference call participants today. As always we appreciate your interest in our company.

Let's turn straight to the key messages on Slide 4. For the nine-month period, we are pleased to report strong and broad-based organic sales growth of 7.8%. Pricing was 8.4%, reflecting significant input cost inflation over the last two years, but also starting to moderate, which is in line with our expectations.

In the third quarter, we have started to see the expected recovery in our volume and mix development. Progress in this area was masked by the temporary supply chain constraints in our Nestlé Health Science business. But we have started to turn the corner