可可成本大增 亿滋国际承压

Group 1 - The core viewpoint of the article highlights that Mondelez International, the global snack giant owning brands like Oreo, reported mixed results for Q3 due to record cocoa costs and inflationary pressures, with revenue of $9.744 billion, a 5.9% year-over-year increase, but a net profit decline of 12.9% to $743 million [1] - The company adjusted its full-year earnings forecast, expecting organic revenue growth of about 4%, down from a previous target of 5%, and a projected 15% decline in adjusted earnings per share [1] - In the European market, Mondelez implemented a price increase of approximately 30% on chocolate products to cope with cocoa cost pressures, but faced a 7.5% year-over-year decline in sales volume due to competitive pricing discrepancies [1] Group 2 - Mondelez's strategy to rely on price increases to maintain performance and profit amid cost pressures may weaken brand competitiveness in a market increasingly focused on value and health [2] - The CFO indicated that cocoa costs have peaked and are expected to improve next year, with anticipated sales rebounds in Europe and positive impacts from price reductions in the U.S. market [2] - The baking segment emerged as a highlight for Mondelez, contributing $288 million in net revenue in the first three quarters, with $87 million in Q3 alone from the recently acquired Chinese frozen baking company, Enxi Village [2] Group 3 - Mondelez has identified the baking sector as a growth area, having made strategic acquisitions to enhance its presence in this market, including the purchase of North American baking manufacturer Give&Go and the European brand Chipita [3] - The company has invested in developing new products, such as the Oreo Cloud Cake, to leverage its brand strength in the baking category [3] - The global cake and pastry market is valued at $97 billion, with a high single-digit compound annual growth rate, indicating significant growth potential for Mondelez in this emerging sector [4]