出品丨搜狐财经 作者丨饶婷 编辑丨李文贤 继被撤销独立大区后，近日雀巢大中华区被曝换帅。 不过搜狐财经盘点发现，近三年，雀巢大中华大区的销售额徘徊在50亿瑞士法郎左右，始终未能突破人民币500亿元。 据悉，执掌大中华区三年的张西强即将离任，由菲律宾市场负责人马凯思（Kais Marzouki）接棒。 数据显示，2022年至2024年，雀巢大中华区的销售额依次为53.51亿、50.37亿、49.73亿瑞士法郎，逐年下滑，不过有机增长率分别为3.50%、4.20%和 2.10%。 中国食品产业分析师朱丹蓬认为，雀巢作为"超级航母"具备战略惯性，人事变动难以动摇其既定节奏。 在消费市场仍显疲态的当下，未来如何带领雀巢中国市场突破增长瓶颈，是新帅马凯思即将面临的一场关键考验。 雀巢中国首位本土CEO离职 作为首位本土CEO，张西强即将挥别工作了13年的雀巢中国。 据悉，张西强则将于7月1日正式卸任，并在今后的18个月中继续担任雀巢战略顾问。 回溯其职业轨迹：2012年雀巢收购惠氏，时任惠氏财务总监的张西强顺势进入雀巢体系，此后历任惠氏营养品业务高级营运总监、上海太太乐食品有限公 司总裁兼雀巢大中华区食品业务负责人等职 ...

继去年集团CEO换人后，雀巢又有新的高层变动，这次是中国市场负责人的变更。 近日，雀巢集团宣布任命马凯思（Kais Marzouki）为大中华区市场负责人，现任大中华区市场负责人张 西强将卸任，2025年7月1日起生效。根据安排，双方将在5月开始进行交接。张西强将在今后的18个月 中继续担任公司战略顾问。 与此同时，张西强也有了新的职业动向，将加入由元气森林创始人唐彬森创办的挑战者创投，担任运营 合伙人。新老负责人交接背后，雀巢对于中国市场的重视程度不断提高，同时持续加码中国市场投资。 雀巢中国时隔三年多换帅 新负责人是雀巢"老将" 公开资料显示，马凯思拥有欧洲管理学院管理学硕士学位，于1995年加入雀巢集团，现任雀巢菲律宾董 事长兼首席执行官。此前曾在雀巢担任多个重要职务。在本次新任命之前，他于2018年7月起就出任雀 巢菲律宾董事长兼首席执行官。在更早前，他还担任过雀巢中非和西非地区首席执行官等职位。 值得关注的是，作为"老将"的马凯思受到雀巢新任全球CEO傅乐宏的赏识，后者曾多次赞扬菲律宾市场 的本土化创新，称"10个当地家庭中有9个都购买雀巢产品。"在马凯思的带领下，雀巢在菲律宾市场上 取得了业务的显 ...

Group 1 - Nestlé Group appointed Kais Marzouki as the head of Greater China market, effective July 1, 2025, while Zhang Xiqiang will join Challenger Ventures as an operating partner [1] - This personnel adjustment follows Nestlé's decision to no longer treat the Chinese market as an independent region, which took effect on January 1, 2025 [1] - Kais Marzouki has been with Nestlé since 1995 and has successfully led Nestlé Philippines as Chairman and CEO [1] Group 2 - In September 2024, Fu Lehong officially took over as CEO of Nestlé Group, initiating organizational restructuring [2] - Nestlé announced the simplification of its five regional markets into three: Americas (AMS), Asia, Oceania, and Africa (AOA), and Europe (EUR), with Greater China being reintegrated into the AOA region [2] - Nestlé's Q1 2025 report indicated a total sales increase of 2.3% year-on-year to 22.6 billion Swiss francs, with Greater China's organic growth rate at 1.7% [2]

财报中，傅乐宏称第一季度的业绩表现符合预期，他也对美国关税事件进行分析，认为其产生的间接影 响，包括对消费者和客户以及货币和大宗商品价格的影响在此阶段仍然不明朗。 雀巢中国管理层又有新变化 雀巢集团的新一轮战略调整仍在进行中。4月24日发布的2025年一季报显示，雀巢集团单季收入增速同 比和环比都有提速的迹象。同时第一财经记者今日（4月25日）从雀巢中国了解到，雀巢集团已任命了 马凯思（Kais Marzouki）接替即将于今年7月1日离职的张西强担任中国业务负责人。 财报显示，2025年第一季度雀巢集团实现收入226亿瑞士法郎，同比增长2.8%，这一增速高于2024年第 一季度的1.4%和2024年全年的2.2%。从分业务上看，雀巢的增长主要是依靠糖果和咖啡业务带动，两 者分别同比增长了8.9%和5.1%，宠物护理业务同比增长1.6%。 在外界看来，雀巢的业绩变化背后，雀巢集团新帅傅乐宏（Laurent Freixe）的改革正在逐步见效。在 2024年9月正式接任雀巢的首席执行官后，傅乐宏将雀巢的战略模式从此前通过出售和并购改善业务结 构，转变为新的聚焦战略，即数量更少、规模更大、效果更好。 记者注意到，2 ...

Financial Data and Key Metrics Changes - The company reported a resilient organic sales growth of 2.8% in Q1, with a real internal growth (RIG) of 0.7% and pricing contributing 2.1% [13][36] - Sales were negatively impacted by foreign exchange movements, although the impact was less than the previous year [13][14] - The company is on track to deliver CHF700 million in incremental cost savings in 2025, in addition to over CHF1.2 billion from ongoing efficiency initiatives [4][36] Business Line Data and Key Metrics Changes - In Zone Americas, organic growth was flat, with positive RIG in North America and strong growth in Latin America, driven by pricing actions in confectionery and coffee [19][20] - Zone AOA delivered positive growth across all categories, particularly in confectionery, with double-digit growth in Maggi Cooking aids and emerging market PetCare [20][21] - Zone Europe generated broad-based growth across markets and categories, with improving market share trends [22][23] - The Health Science segment showed mixed performance, with double-digit growth in premium brands but slower growth in Nature's Bounty and Vital Proteins [24][26] Market Data and Key Metrics Changes - Consumer sentiment remained subdued across various regions, particularly in China, where organic growth was driven by sales phasing rather than underlying consumption [21][22] - The company noted fragile consumer confidence in many geographies, exacerbated by macroeconomic and political uncertainties [17][18] Company Strategy and Development Direction - The company is focused on accelerating growth through investments in key brands and categories, supported by the Fuel for Growth savings program [3][4] - The strategy includes harmonizing organizational structure in Europe and enhancing R&D capabilities to support growth [5][6] - The company aims to strengthen its core brands while addressing underperformers and expanding into new growth platforms, particularly in Nutrition and women's health [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the uncertain environment and continue to accelerate growth [12][43] - The company is closely monitoring consumer reactions to pricing changes and the impact on RIG, particularly in light of soft consumer demand [17][18] - Management highlighted the importance of maintaining consumer penetration while managing pricing strategies in response to input cost inflation [15][16] Other Important Information - The company expects organic sales growth to improve compared to 2024, with guidance for a UTOP margin at or above 16% as investments for growth continue [36][37] - The company is actively managing the impact of currency fluctuations and tariffs on its pricing strategies [66][70] Q&A Session Summary Question: Impact of positive sales phasing in China and Nespresso - Management indicated a relatively small impact of about 20 basis points at the group level from sales phasing in China and Nespresso, with uncertainty on potential unwinding in Q2 [49][50] Question: Guidance for organic sales growth - Management confirmed expectations for organic sales growth to strengthen throughout the year, but cautioned against expecting consistent quarter-on-quarter improvements [51][52] Question: Performance in infant nutrition - Management acknowledged softness in the infant nutrition category, particularly in the U.S., and emphasized the need to address underperformance in Gerber [41][54] Question: Pet food performance - Management noted slightly negative pricing in pet food due to a mild commodity environment, but expressed confidence in the category's strength and growth potential [62][63] Question: Currency and tariff impacts - Management provided insights on the impact of currency fluctuations on UTOP margins and confirmed that tariffs would affect certain products, but emphasized the company's ability to manage these challenges [66][70] Question: Reorganization in Europe - Management explained the reorganization aims to enhance operational efficiency and effectiveness, aligning Zone Europe with other zones to improve market responsiveness [84][85] Question: Consumer sentiment and inflation - Management highlighted cautious consumer sentiment due to inflation and economic uncertainties, but expressed confidence in the company's strategy to navigate these challenges [88][90]

Core Viewpoint - European blue-chip companies Unilever and Nestle reported first-quarter sales exceeding market expectations after significantly raising prices to offset soaring commodity costs. Both companies warned that global consumers would bear a substantial portion of these costs due to escalating trade tensions and rising commodity prices [1][2]. Group 1: Company Performance - Unilever and Nestle experienced a rebound in sales after losing market share during the pandemic due to inflation, with both companies indicating that they are raising prices selectively while maintaining a focus on consumer response in a competitive environment [1][2]. - Nestle's CEO noted that consumer confidence is evidently weak globally, not just in the U.S., and that significant price increases have occurred in certain markets, with some reaching double digits [1][2]. - Unilever's sales in emerging markets, which account for nearly 60% of its revenue, showed unexpected weakness, relying more on price increases than volume growth [4][5]. Group 2: Market Challenges - The U.S. retail sector has underperformed since April, with consumer confidence at its lowest since June 2022, driven by uncertainties from trade policies and inflation concerns [3]. - High inflation and interest rates in Latin America have suppressed consumer demand, leading to negative sales growth in countries like Mexico and Argentina for Unilever [4][5]. - Both companies reiterated their outlook for improved sales growth despite the challenges, with Unilever expecting a slight increase in its operating profit margin compared to 2024 levels [5]. Group 3: Consumer Sentiment - Consumer sentiment surveys indicate a significant decline in confidence, with expectations of worsening financial conditions and increased unemployment fears among respondents [3]. - The ongoing pressure on consumers is acknowledged by Unilever's CEO, who mentioned that price increases are a last resort to protect profit margins [5].

Three-month sales 2025 Investor & analyst presentation Three-month sales 2025 Investor & analyst presentation Disclaimer This presentation contains forward looking statements which reflect Management's current views and estimates. The forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchan ...

Core Insights - Nestlé Group reported a total sales of 22.6 billion Swiss Francs (approximately 199.1 billion RMB) for the first quarter of fiscal year 2025, reflecting a year-on-year growth of 2.3% [1] - The company achieved an organic growth of 2.8%, driven primarily by pricing measures in response to inflation in coffee and cocoa-related categories [1][2] - The actual internal growth rate, excluding pricing effects, was only 0.7%, indicating weak consumer demand and short-term adjustments due to price increases [1] Sales Performance - All product categories within Nestlé showed positive internal growth rates, with the candy and coffee segments performing particularly well, achieving year-on-year revenue growth of 8.9% and 5.1% respectively [2] - The organic growth rates for other categories included 1.6% for pet care and a slowdown to 4.2% for health science [2] Regional Insights - In the Greater China region, organic growth was 1.7%, with an actual internal growth rate of 4.0%, indicating that pricing strategies did not contribute positively to growth in this market [3] - The AOA region, which includes Greater China, reported a revenue increase of 3.6%, outperforming the Americas' 0% growth and Europe's 2.5% growth [3] Financial Metrics - The sales figures for the first quarter of 2025 compared to the same period in 2024 showed a reported sales growth of 2.3%, with a negative impact of -0.5% from foreign exchange fluctuations [4] - The breakdown of internal growth rates by region showed varied performance, with the Americas at 0.1%, Europe at -0.6%, and health science at 4.8% [4] Strategic Initiatives - Nestlé is focusing on core business investments and has received positive consumer feedback on new products like Nestlé Coffee Concentrate [2] - The company is actively managing 18 underperforming business units and is seeing encouraging signs of improvement [2] - Nestlé has increased its stake in two companies, including acquiring the remaining minority shares of the candy company Xu Fu Ji in China and increasing its majority stake in Orgain, a leader in plant-based nutrition [4] Future Outlook - Nestlé anticipates that organic sales growth in 2025 will outperform that of 2024, as the company continues to execute its growth plans and enhance efficiency [5]

Core Insights - The U.S. pet food market is projected to grow from $44.66 billion in 2024 to $64.17 billion by 2033, with a CAGR of 4.11% from 2025 to 2033, driven by increasing pet ownership and demand for premium products [2][11]. Market Dynamics - Rising pet ownership is a significant factor, with 66% of U.S. households owning pets, leading to increased spending on quality pet food [5]. - The trend of pet humanization is driving demand for high-quality, natural, and specialty pet food products, as owners treat pets as family members [4][3]. - Health and wellness concerns among pet owners are leading to a rise in demand for functional pet food that addresses specific health needs [6]. E-commerce Growth - The rapid expansion of e-commerce is transforming the pet food market, with online platforms providing convenience and a wide range of products, leading to increased consumer preference for online shopping [7]. Challenges - Fluctuating raw material costs pose challenges for the industry, affecting production costs and pricing strategies [8]. - Regulatory compliance and stringent quality standards create hurdles for pet food companies, particularly smaller manufacturers [9]. Key Players - Major companies in the U.S. pet food market include J.M. Smucker, General Mills (Blue Buffalo), Tyson Foods, Colgate Palmolive, and Nestle [13]. Report Attributes - The report covers a forecast period from 2024 to 2033, with detailed analysis on market dynamics, share analysis, and distribution channels [11][14].