Last year, Nestlé increased sales by 8.3 percent to SFR 94.4 billion. Price increases contributed 8.2 percent to the growth. Profits, on the other hand, slumped 45.2 percent to SFR 9.3 billion.
The food giant’s margins also came under pressure last year from higher raw material prices, transportation costs and wages.
Looking ahead to 2022, Nestlé CEO Schneider said, “Inflation reached unprecedented levels, the cost of living troubled many people, and the consequences of geopolitical tensions moved the whole world.” In this environment, he said, the Group managed to deliver a good performance.
