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5 hours ago
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BIC: Release and availability of the 2025 Half-Year Financial Report
Release and availability of the 2025 Half-Year Financial Report Clichy, France – July 31st, 2025 The 2025 Half-Year Financial Report of Société BIC (Paris: BB) was released and is now available on BIC's website on this link. Contacts Brice ParisVP Investor Relations +33 6 42 87 54 Investor Bethridge ToovellVP Global Communications+1 917 821 Isabelle de Segonzac Image 7, Press Relations contact+33 6 89 87 61 39isegonzac@ Agenda All dates to be confirmed Third Quarter 2025 Net Sales October 28, 2025 Full Year 2025 Results February 24, 2026 About BIC A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC's commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 13,000 team members worldwide, BIC's portfolio includes iconic brands and products such as BIC® 4-Color™, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky™, Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load™, EZ Reach®, BIC® Flex™, Soleil®, Tangle Teezer® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, BIC is also recognized for its steadfast commitments to sustainability and education. For more, visit and to see BIC's full range of products visit Follow BIC on LinkedIn, Instagram, YouTube and TikTok. Attachment BIC_Release and availability of the 2025 Half-Year Financial ReportError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-07-2025
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Lloyds Bank plc: 2025 Half-Year Results
LONDON, July 24, 2025 (GLOBE NEWSWIRE) -- Lloyds Bank plc 2025 Half-Year Results 24 July 2025 Member of the Lloyds Banking Group CONTENTS Forward-looking statements 1 Statutory information (IFRS) Condensed consolidated balance sheet (unaudited) 2 Condensed consolidated income statement (unaudited) 2 Financial review 3 Risk management Principal risks and uncertainties 5 Capital risk 6 Credit risk 10 Liquidity risk 20 Statutory information Condensed consolidated half-year financial statements (unaudited) 21 Condensed consolidated income statement (unaudited) 22 Condensed consolidated statement of comprehensive income (unaudited) 23 Condensed consolidated balance sheet (unaudited) 24 Condensed consolidated statement of changes in equity (unaudited) 25 Condensed consolidated cash flow statement (unaudited) 28 Notes to the condensed consolidated half-year financial statements (unaudited) 29 Statement of directors' responsibilities 52 Independent review report to Lloyds Bank Plc 53 Contacts 54 FORWARD-LOOKING STATEMENTS This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group's or its directors' and/or management's beliefs and expectations, are forward-looking statements. Words such as, without limitation, 'believes', 'achieves', 'anticipates', 'estimates', 'expects', 'targets', 'should', 'intends', 'aims', 'projects', 'plans', 'potential', 'will', 'would', 'could', 'considered', 'likely', 'may', 'seek', 'estimate', 'probability', 'goal', 'objective', 'deliver', 'endeavour', 'prospects', 'optimistic' and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group's future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group's future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group's ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally (including in relation to tariffs); imposed and threatened tariffs and changes to global trade policies; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the escalation of conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group's or Lloyds Banking Group plc's credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group's securities; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group's compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Lloyds Bank Group's or the Lloyds Banking Group's ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group's financial statements. A number of these influences and factors are beyond the Lloyds Bank Group's control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC's website at for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today's date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments. CONTACTS For further information please contact: INVESTORS AND ANALYSTS Douglas Radcliffe Group Investor Relations Director 020 7356 1571 Rohith Chandra-Rajan Director of Investor Relations 07353 885 690 Nora Thoden Director of Investor Relations - ESG 020 7356 2334 Tom Grantham Investor Relations Senior Manager 07851 440 091 Sarah Robson Investor Relations Senior Manager 07494 513 983 CORPORATE AFFAIRS Matt Smith Head of Media Relations 07788 352 487 Emma Fairhurst Media Relations Senior Manager 07814 395 855 Copies of this News Release may be obtained from:Investor Relations, Lloyds Banking Group plc, 33 Old Broad Street, London, EC2N 1HZThe statement can also be found on the Group's website - Registered office: Lloyds Bank plc, 25 Gresham Street, London, EC2V 7HNRegistered in England No. 2065 Click on, or paste the following link into your web browser, to view the associated PDF document. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
24-07-2025
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Half-year results 2025: Consistent execution, improving growth foundations
[Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in Français (pdf) and Deutsch (pdf) Follow today's event live09:00 CEST Investor & analyst call - video webcastFull details on our website Reports published todayHalf-Year Report (pdf) Other language versions available in Publications ............. Half-year results 2025: Consistent execution, improving growth foundations Vevey, 24 July 2025 Laurent Freixe, Nestlé CEO commented: 'We are executing our strategy to accelerate performance and transform for the future. We are accelerating our category growth and improving our market share, through better execution and increased investment, funded through a relentless pursuit of efficiency. These actions are already delivering results, with broad-based growth and a robust profit performance in the first half. Where we are investing to accelerate category growth, we are growing four times faster than the Group, and our six innovation 'big bets' achieved sales of over CHF 200 million in the first half. At the same time, we are addressing our 18 key underperforming business cells, and the aggregate growth gap to market has improved by a third. We are also taking decisive measures to strengthen our business in Greater China and focus our Vitamins, Minerals and Supplements business on winning premium brands. We have maintained our guidance for 2025, while recognizing increased macroeconomic risks and uncertainties. We remain confident that our actions to drive performance and transformation will deliver our medium-term growth and profit ambitions.' Results performance summary In millions of CHF, unless stated H1-2025 H1-2024 Reported change - Real internal growth (RIG) 0.2% 0.1% 10 bps - Pricing 2.7% 2.0% 70 bps Organic growth 2.9% 2.1% 80 bps Net acquisitions/(disposals) 0.0% - 0.4% 40 bps Foreign exchange movements - 4.7% - 4.4% - 30 bps Reported sales growth - 1.8% - 2.7% 90 bps Sales 44,228 45,045 - 1.8% Underlying trading operating profit 7,287 7,841 - 7.1% Gross profit margin 46.6% 47.2% - 60 bps Underlying trading operating profit margin 16.5% 17.4% - 90 bps Net profit1 5,065 5,644 - 10.3% Basic EPS (CHF) 1.97 2.16 - 9.0% Underlying EPS (CHF) 2.27 2.40 - 5.4% Free cash flow 2,307 3,978 - 42.0% 1 Profit for the year attributable to shareholders of the parentFinancial highlights Broad-based sales growth H1 organic sales growth (OG) of 2.9%, with real internal growth (RIG) of 0.2% and pricing of 2.7%. Q2 OG of 3.0%, with RIG of -0.4% and pricing of 3.3%. OG improved compared to Q1 across most businesses. Pricing actions taken through H1, with low elasticity in coffee and higher short-term impact in confectionery. Decline in Greater China impacting Group Q2 OG by 70 bps and RIG by 40 bps. Solid profit performance while stepping up investment Underlying trading operating profit (UTOP) margin of 16.5%, impacted by inflation in costs of goods sold, step-up in growth investments and currency headwinds. Net profit of CHF 5.1 billion, basic earnings per share (EPS) down 9.0% to CHF 1.97, free cash flow of CHF 2.3 and strategic progress Investing in growth, with focused and consistent execution delivering results Marketing investment increased, with advertising and marketing expenses reaching 8.6% of sales in the first half of 2025. Where we are investing to accelerate category growth, we are growing at four times the rate of overall group OG. Rapid roll-out of six global innovation 'big bets' reaching combined sales of over CHF 200 million in H1 2025. In 18 key underperforming business cells, aggregate growth gap to market improved by a third. Good progress with CHF 2.5 billion Fuel for Growth cost savings program On track to achieve target of CHF 0.7 billion savings in 2025, with over CHF 150 million recognized in the P&L in H1 and an additional CHF 350 million already secured for H2. Taking steps to strengthen growth profile in Greater China and Nestlé Health Science Taking action in Greater China to improve performance; measures will be a growth headwind for up to a year. Focusing the Vitamins, Minerals and Supplements (VMS) business on premium brands, launching strategic review of our mainstream and value brands. Simplifying our organization and digitally transforming our end-to-end processes Leveraging Nestlé's scale, single enterprise resource planning (ERP) core and data foundations, and expanding our AI platforms to support decision-making, execution and efficiency.2025 guidance 2025 guidance maintained, despite factoring in increased headwinds. Organic sales growth expected to improve compared to 2024, strengthening over the year as we continue to deliver on our growth plans. UTOP margin expected to be at or above 16.0%, as we invest for growth; includes negative impact from tariffs currently in place and current foreign exchange rates. Despite heightened risks from continuing macroeconomic and consumer uncertainties, we remain committed to investing for the medium today's event live09:00 CEST Investor & analyst call - video webcastFull details in Events PDF press releases: English (pdf, 338Kb) Français (pdf, 335Kb) Deutsch (pdf, 420Kb) Reports published today: 2025 Half-Year Report (pdf, 871Kb) Rapport semestriel 2025 (pdf, 896Kb) Halbjahresbericht 2025 (pdf, 910Kb) Contacts:Media:Christoph Meier Tel.: +41 21 924 2200mediarelations@ Investors:David Hancock Tel.: +41 21 924 3509ir@ Operational and strategic review Growth and investment In the first half of 2025, organic growth was 2.9%, with 2.8% in Q1 and 3.0% in Q2. Pricing contribution increased to 2.7% in H1, as we took actions to address input cost inflation in coffee and cocoa-related categories. RIG was 0.2%, reflecting lower consumer demand and the short-term impact of consumers and customers adjusting to price increases. Sales declined in Greater China, negatively impacting the Group's second-quarter OG and RIG by 70 bps and 40 bps, respectively. We have stepped up our investments in our value proposition: unrivalled product superiority, unbeatable value, unmissable visibility and unforgettable brand communications. For example, we have made a step change in rigor on consumer taste preference testing. Over the last three years, we have tested less than a quarter of top-selling SKUs that account for approximately half of group sales, whereas now we plan to test the remainder of them over the next twelve months and take corrective action if we do not have taste preference. We have also increased marketing investment, with advertising and marketing expenses as a percentage of sales up to 8.6% in H1 2025 compared to 8.1% in H1 2024. The impact of these efforts can be seen in our progress on both improving our market share trends and in accelerating our category growth. The aggregate growth gap to market for our 18 key underperforming business cells has reduced by a third, with most cells improving their relative performance. These include coffee creamers US, soluble coffee Europe, frozen pizza US, Milo ASEAN and biscuits Brazil. Where we are investing to accelerate category growth, we are growing four times faster than the Group. This includes platforms, such as ready-to-drink (RTD) coffee and pet therapeutics as well as the rapid roll-out of our six global innovation 'big bets': NAN Sinergity, Nescafé Espresso Concentrate, Maggi air fryer range, chocobakery, Purina's gourmet pyramid-shaped cat food, and Nescafé Dolce Gusto Neo. We have completed 65 product-market launches to date – a step change in pace of rollout. In the first half of 2025, the six 'big bets' already achieved combined sales of over CHF 200 million, making good progress towards our ambition to reach at least CHF 100 million in annual sales in each big bet over the next three years. Efficiency and productivity Our Fuel for Growth program targets savings of CHF 0.7 billion in 2025, scaling to CHF 2.5 billion by the end of 2027. In H1, over CHF 150 million of savings were recognized in the P&L, and a further CHF 350 million savings have already been secured for H2, putting us well on track to achieve our 2025 target. Examples of savings achieved so far include AI-powered procurement and supplier management, spend consolidation and aggregation, and e-sourcing expansion and automation. These Fuel for Growth savings will come in addition to over CHF 1 billion per annum of ongoing efficiencies from existing initiatives. Expected phasing of Fuel for Growth cost savings program:In CHF billion AchievedH1-2025 Expected2025 Expected2026 Expected2027 2025 non-recurring savings 0.1 0.3 2025 recurring savings 0.05 0.4 0.4 0.4 2026 recurring savings 1.0 1.0 2027 recurring savings 0.9 Total in-period savings 0.15 0.7 1.4 2.3 Run-rate savings at end of 2027 2.5Strengthening foundations In Greater China, we are taking material steps to strengthen performance, including changes in leadership. In recent years, we have grown the business by expanding distribution. This model has become challenged by a weaker consumer and the deflationary environment. To deliver sustainable growth, we are now focusing on driving consumer demand by strengthening our value proposition. It will take up to a year to return to sustainable growth. In Vitamins, Minerals and Supplements (VMS), we have launched a strategic review of our underperforming mainstream and value brands, including Nature's Bounty, Osteo Bi-Flex, Puritan's Pride, and US private label, which may result in the divestment of these brands. Our VMS business will focus on global premium brands, such as Garden of Life, Solgar and Pure Encapsulations where our capabilities in science, innovation and brand-building give us a distinct competitive edge. We are simplifying our organization and digitally transforming our end-to-end processes, leveraging Nestlé's scale, single ERP core and enterprise data foundations. This will allow us to run the business with greater agility and precision, with connected data and technology to support decision-making, execution and efficiency. Our current areas of focus are consumer engagement, commercial investment decision-making and returns, procurement analytics and connected operations. Financial review Sales Total reported sales decreased by 1.8% to CHF 44.2 billion. This includes a negative impact of 4.7% from foreign exchange, given the significant strengthening of the Swiss franc during the period. Organic growth was 2.9%. Pricing contribution was 2.7%, as we took action to address input cost inflation in coffee and cocoa-related categories. RIG was 0.2%, reflecting soft consumer demand and the short-term impact of consumers and customers adjusting to price increases. By category, confectionery and coffee were the largest organic growth contributors, driven by pricing of 10.6% and 6.0%, respectively. Our focus in these two categories is on smart pricing action to fully address input cost increases where possible, while maintaining medium-term consumer penetration. In coffee, elasticity effects have been limited, and RIG was slightly positive and remained stable across the two quarters. Short-term elasticities in confectionery have been more pronounced than in coffee, which is consistent with historical trends. Outside confectionery and coffee, organic growth was more modest, led by PetCare and water, while growth in food was negative in the context of a category decline. By geography, organic growth in developed markets was 1.8%, driven by RIG of 1.0% along with pricing of 0.8%. In emerging markets, organic growth was 4.5%, with pricing of 5.6% and RIG of -1.1%. By channel, organic growth in retail sales was 2.6%. Organic growth of the out-of-home channel was 5.8%. E-commerce sales grew organically by 12.3%, reaching 20.2% of total Group sales. Gross profit and operating profit Gross profit was CHF 20.6 billion. The gross profit margin decreased by 60 bps to 46.6%, primarily driven by the impact of higher coffee and cocoa prices on cost of goods sold, which were not fully compensated by price increases. Distribution expenses as a percentage of sales were 8.3%, slightly down versus the prior year at 8.4%. Marketing and administration expenses as a percentage of sales increased by 50 bps to 20.4%. This was driven by an increase in advertising and marketing expenses as a percentage of sales, up 50 bps to 8.6% as we continue to step up growth investments; administration expenses as a percentage of sales were flat at 11.8%. Research and development costs as a percentage of sales were slightly down versus the prior year at 1.8%. Underlying trading operating profit was CHF 7.3 billion, a decrease of 7.1%. The underlying trading operating profit margin was 16.5%, a decrease of 90 bps on a reported basis or 80 bps in constant currency. Restructuring and net other trading items was CHF 0.4 billion in the first half of both this year and the prior year. Trading operating profit decreased by 6.9% to CHF 6.9 billion. The trading operating profit margin was 15.6%, a decrease of 80 bps on a reported % of sales H1-2025 H1-2024 Reported change Constant currency change Sales 100.0% 100.0% - Cost of goods sold - 53.4% - 52.8% - 60 bps Gross profit margin 46.6% 47.2% - 60 bps Other revenue 0.4% 0.4% 0 bps Distribution expenses - 8.3% - 8.4% 10 bps Marketing and administration expenses - 20.4% - 19.9% - 50 bps Research and development costs - 1.8% - 1.9% 10 bps Underlying trading operating profit margin 16.5% 17.4% - 90 bps - 80 bps Other trading income 0.2% 0.1% 10 bps Other trading expenses -1.1% -1.1% 0 bps Trading operating profit margin 15.6% 16.4% - 80 bps - 70 bps Other operating income 0.4% 0.5% - 10 bps Other operating expenses - 0.6% - 0.4% - 20 bps Operating profit margin 15.4% 16.5% - 110 bps Net financial expenses and income tax Net financial expenses increased to CHF 759 million from CHF 744 million, reflecting a higher level of average net debt. The average cost of net debt was 2.5% compared to 2.6% in the first half of 2024. The Group reported tax rate was 26.4%, compared to 25.0% in the prior year period. The increase was due to one-off tax charges reported in 2025. The underlying tax rate was 22.0%. Net profit and earnings per share Net profit decreased by 10.3% to CHF 5.1 billion. Basic earnings per share decreased by 9.0% to CHF 1.97 driven by lower net profit, which was partially offset by the impact of the share buyback program, which concluded in December 2024. Cash flow Cash generated from operations decreased to CHF 6.2 billion from CHF 8.1 billion in the first half of 2024. Free cash flow was CHF 2.3 billion compared to CHF 4.0 billion in the same period last year, with the decrease primarily due to lower EBITDA and a negative contribution from working capital movements, partially offset by lower capex. Net debt Net debt was CHF 60.0 billion as at June 30, 2025, compared to CHF 56.0 billion as at December 31, 2024 and CHF 59.5 billion as at June 30, 2024. The increase largely reflected cash outflows for the dividend payment of CHF 7.8 billion partially offset by a benefit from foreign exchange movements. Acquisition of minority interests and JVs During the first half of the year, we increased our ownership in two companies as follow-ons from earlier acquisitions. In China, we acquired all the outstanding minority interests of confectionery company Hsu Fu Chi, and in Nestlé Health Science we further increased our majority stake in Orgain, a leader in plant-based nutrition, where we had an option as part of the original acquisition structure. In South Korea we took control of our Purina business from the existing JV structure and integrated it into Nestlé South Korea. Operating segment review Total Group Zone Americas Zone AOA Zone Europe Nestlé Health Science Nespresso Nestlé Waters & Premium Beverages Other businesses Sales H1-2025 (CHF m) 44,228 16,954 10,442 8,467 3,225 3,172 1,821 147 Sales H1-2024 (CHF m) 45,045 17,821 10,591 8,342 3,239 3,096 1,810 146 Real internal growth (RIG) 0.2% - 0.5% - 0.3% - 0.2% 3.3% 2.0% 2.3% 0.7% Pricing 2.7% 2.7% 2.6% 3.7% 0.1% 3.8% 2.4% 2.5% Organic growth 2.9% 2.1% 2.4% 3.5% 3.4% 5.8% 4.7% 3.2% Net M&A 0.0% - 0.1% - 0.3% 0.2% - 0.1% 0.4% 0.0% 0.0% Foreign exchange - 4.7% - 6.9% - 3.6% - 2.2% - 3.7% - 3.7% - 4.0% - 2.3% Reported sales growth - 1.8% - 4.9% - 1.4% 1.5% - 0.4% 2.4% 0.6% 0.8% UTOP H1-2025 (CHF m) 7,287 3,429 2,246 1,456 504 695 170 - 8 UTOP H1-2024 (CHF m) 7,841 3,807 2,366 1,569 433 667 168 - 5 UTOP margin H1-2025 16.5% 20.2% 21.5% 17.2% 15.6% 21.9% 9.3% - 5.5% UTOP margin H1-2024 17.4% 21.4% 22.3% 18.8% 13.4% 21.5% 9.3% - 2.9% UTOP margin YoY - 90bps - 120bps - 80bps - 160bps + 220bps + 40bps flat - 260bps Zone Americas Zone Americas delivered resilient performance despite a challenging macroeconomic environment and fragile consumer confidence. Growth was broad based across all key markets, and performance was strong in the out-of-home and e-commerce channels. In North America, organic growth and RIG were both positive in Q1 and Q2, with improving market share trends in frozen foods and coffee creamers. In Latin America, growth was pricing-led, with double-digit increases in coffee and confectionery partially offset by negative RIG. Segment performance summary Organic growth was 2.1%, with -0.5% RIG and 2.7% pricing. Reported sales growth was down 4.9% to CHF 17.0 billion, including a -6.9% impact from foreign exchange movements. In North America, organic growth was 0.3%, with 0.6% RIG and -0.3% pricing. In Latin America, organic growth was 5.5%, with -2.7% RIG and 8.3% pricing. By market, growth was led by Brazil, along with Argentina and Venezuela (both with strong RIG), partially offset by the Central American and Caribbean regions. Market share gains were achieved in portioned and soluble coffee in North America and ready-to-drink beverages in Latin America. Market share developments in frozen food and in coffee creamers continued to improve. UTOP margin decreased by -120 bps to 20.2% driven by input cost inflation, increased consumer investment, and currency and tariff headwinds that offset pricing and efficiencies. Key organic sales growth drivers by product category Beverages (including coffee and coffee creamers) delivered high single-digit broad-based growth, with strong pricing and positive RIG. Nescafé was the key driver, reflecting its strong value proposition especially for more stretched consumers, as well as good commercial execution. Confectionery grew double digit, led by Tollhouse in the US (double-digit RIG and pricing) and Garoto in Brazil (double-digit pricing, negative RIG), and supported by chocobakery expansion. Nestlé Professional grew at mid single-digit rate, with positive contributions across most segments, particularly in Latin America. In PetCare, growth was positive, with solid performance in cat, offset by weaker category dynamics impacting sales in mainstream dog brands and snacks. Frozen food declined at a slower pace, with improved share trends in Stouffer's and DiGiorno. Infant Nutrition recorded negative growth, with sales declines in Gerber and Nido. Zone Asia, Oceania and Africa In Zone AOA, growth was broad based across markets, with the exception of Greater China. Most regions delivered positive organic growth, with the strongest contributions from Central & West Africa, the Philippines and South Asia. In Greater China, sales declined in Q2, as we began to adjust our business model to focus on driving consumer demand. By category, growth was strongest in confectionery, led by RIG and market share gains while implementing pricing actions. Growth was also strong in strategic focus areas of on-the-go ready-to-drink coffee and PetCare in emerging markets. Segment performance summary Organic growth was 2.4%, with -0.3% RIG and 2.6% pricing. Reported sales decreased by 1.4% to CHF 10.4 billion, impacted by foreign exchange movements, which decreased sales by 3.6%. In Greater China, organic growth was -4.2%, with -1.5% RIG and -2.7% pricing. In Zone AOA, excluding Greater China, organic growth was 4.3%, with 0.1% RIG and 4.2% pricing. Key market share developments were gains in confectionery, PetCare, and cocoa malt beverages and losses in coffee, Infant Nutrition, and culinary. UTOP margin decreased by 80 bps to 21.5%, driven primarily by the impact on cost of goods sold from inflation in coffee and confectionery. Key organic sales growth drivers by product category Confectionery grew at a high single-digit rate, driven by double-digit RIG for KitKat and Milo across all regions. Coffee posted low single-digit growth, led by pricing. The largest growth contributor was Nescafé. Culinary delivered low single-digit growth, led by solid sales momentum for Maggi, led by cooking aids and noodles. Nestlé Professional achieved mid single-digit growth, across geographies and categories led by coffee products and beverage solutions as well as confectionery. Infant Nutrition and dairy posted low single-digit growth, led by NAN and Milo across most geographies. PetCare posted negative growth, with strong growth in emerging markets, more than offset by category softness in developed markets. Zone Europe In Zone Europe, growth continued to be pricing-led, reflecting the inflationary environment for coffee and confectionery. Even as pricing increased through the half, RIG turned positive in Q2 after a decline in Q1, supported by an improvement in coffee and positive RIG in PetCare. For the Zone, growth was positive across most categories and markets, with market share gains in PetCare and soluble coffee. Segment performance summary Organic growth was 3.5%, with -0.2% RIG and 3.7% pricing. Reported sales increased by 1.5% to CHF 8.5 billion, and included a -2.2% impact from foreign exchange movements. Across the Zone, growth was led by Türkiye, Iberia, Nordics and France. Market share gains were achieved in PetCare and soluble coffee, with losses in confectionery and food. UTOP margin decreased by 160 bps to 17.2%, driven by the impact of inflation on cost of goods sold in coffee and confectionery, and by higher marketing spend. Key organic sales growth drivers by product category Coffee posted mid single-digit growth. RIG declined mid single-digit in Q1, but recovered to flat in Q2, even as pricing accelerated to double-digits. Organic growth was led by soluble coffee, supported by very strong growth in RTD coffee. Confectionery posted mid single-digit growth, with KitKat and Dessert the main growth drivers. Pricing was double-digit while RIG declined mid single-digit. PetCare delivered low single-digit growth, led by Felix, Purina ProPlan and Purina ONE. Growth was RIG driven and broad based across markets. Sales in Nestlé Professional grew at a high single-digit rate, driven by beverage solutions. Infant Nutrition recorded flat growth, reflecting soft category trends, with NAN contributing positively to growth. Food saw a decline in sales, impacted by a challenging customer and competitive environment in some markets. Nestlé Health Science Organic growth slowed in Nestlé Health Science, following mixed performance across business segments. In VMS, growth was impacted by the discontinuation of some private label business and weaker performance in our mainstream brands, particularly Puritan's Pride. In Active Nutrition, we had strong growth momentum in Orgain. In Medical Nutrition, solid growth was driven by pediatric products. Segment performance summary Organic growth was 3.4%, with 3.3% RIG and 0.1% pricing. Reported sales decreased by 0.4% to CHF 3.2 billion, including a negative foreign exchange impact of 3.7%. Market share was stable in both VMS and Medical Nutrition, with losses in Active Nutrition. UTOP margin increased by 220 bps to 15.6%, driven by positive mix effects. Key organic sales growth drivers By geography, North America posted low single-digit growth, whilst Europe and other regions delivered mid single-digit growth. VMS reported low single-digit growth, as sales momentum in premium brands, particularly Pure Encapsulations and Solgar, was partially offset by declines in mainstream and value brands and the discontinuation of some private label activities. Active Nutrition posted low single-digit growth. Strong momentum for Orgain was partially offset by a weaker performance from Vital Proteins. Medical Nutrition delivered high single-digit growth, led by improved sales momentum for pediatric care products, including strong double-digit growth in the allergy range as well as Compleat. Nespresso Nespresso delivered solid growth, led by accelerating pricing across products, channels and geographies, along with positive RIG. Successful brand campaigns, innovation and strong performance from limited edition launches supported growth. Vertuo again delivered strong performance, particularly in North America, while the environment in Western Europe remains competitive. Segment performance summary Organic growth was 5.8%, with 2.0% RIG and 3.8% pricing. Reported sales increased by 2.4% to CHF 3.2 billion, including a negative impact of 3.7% from foreign exchange movements. Market share continued to grow with momentum in North America and Asia, with strong RIG-led growth supported by innovation. Western Europe remains soft, with positive growth across many markets but continued strong competitive pressure. UTOP margin was up 40 bps to 21.9%, driven by the timing benefit of pricing versus input cost increases, as higher coffee prices flow through with some time lag given the length of the supply chain. Key organic sales growth drivers By geography, sales in North America posted a strong double-digit rate. In Europe, growth was close to flat. By system, growth was driven by Vertuo, with strong sales growth and positive momentum across almost all geographies. Sales for out-of-home channels grew at a mid single-digit rate, led by the hotels, restaurants and catering (horeca) sector and positive machine placements. Nestlé Waters & Premium Beverages Growth was broad based across markets and strengthened in the second quarter. This was primarily driven by key growth platforms Maison Perrier and Sanpellegrino and robust sales in out-of-home channels. We are progressing with the strategic evaluation of the business. Segment performance summary Organic growth was 4.7%, with 2.3% RIG and 2.4% pricing. Reported sales increased by 0.6% to CHF 1.8 billion, including a negative impact from foreign exchange of 4.0%. Market share moved into positive territory, led by strong gains for UTOP margin was flat at 9.3%, as operational cost savings were offset by increased investment in our premium beverages growth platform. Key organic sales growth drivers By geography, Southern Europe and AOA posted high single-digit growth, the Americas delivered mid single-digit growth and Northern Europe recorded low single-digit growth. Growth was strong in premium beverages, supported by the geographic expansion of Maison Perrier and the roll-out of new innovations under the Sanpellegrino Ciao and Zero ranges. Within waters, we saw solid growth from and Acqua Panna, with a weaker performance from Perrier due to the continued impact of supply constraints. Category performance Total Group Powdered & liquid beverages Water Milk products & ice cream Nutrition & Health Science Prepared dishes & cooking aids Confec-tionery PetCare Sales H1-2025 (CHF m) 44,228 12,308 1,611 4,830 7,237 5,051 3,962 9,229 Sales H1-2024 (CHF m) 45,045 12,041 1,621 5,189 7,637 5,260 3,845 9,452 Real internal growth (RIG) 0.2% 0.6% 0.9% 0.2% - 0.8% - 1.1% - 2.1% 1.8% Pricing 2.7% 5.8% 2.8% 0.9% 0.8% 0.2% 10.6% - 0.5% Organic growth 2.9% 6.4% 3.7% 1.1% 0.0% - 0.9% 8.5% 1.3% UTOP H1-2025 (CHF m) 7,287 2,350 156 1,078 1,500 935 436 2,037 UTOP H1-2024 (CHF m) 7,841 2,529 145 1,202 1,492 1,003 548 2,086 UTOP Margin H1-2025 16.5% 19.1% 9.7% 22.3% 20.7% 18.5% 11.0% 22.1% UTOP Margin H1-2024 17.4% 21.0% 8.9% 23.2% 19.5% 19.1% 14.3% 22.1% Powdered and liquid beverages was the largest category growth contributor, with 6.4% organic growth. This was pricing led, as we took actions to address input cost inflation in coffee. RIG remained positive. Confectionery organic growth of 8.5% was pricing driven and led by KitKat and continued momentum in chocobakery. RIG was negative, reflecting some short-term elasticity response to the price increases. PetCare delivered 1.3% organic growth, reflecting a general slowdown in category growth. Growth was led by our billionaire brands, including Purina Pro Plan, Felix, Purina ONE and Tidy Cats. Our super-premium science brands continue to show strong momentum. Water organic growth was 3.7%, led by strong growth for the Maison Perrier range. Milk products and Ice cream posted 1.1% growth, led by dairy culinary brands Nestlé and La Lechera, with coffee creamers turning positive in Q2. Nutrition and Health Science recorded flat growth. Within this, Nestlé Health Science delivered low single-digit growth. Infant Nutrition posted negative growth, as strong growth for NAN was more than offset by a sales decline in Gerber. Prepared dishes and cooking aids posted slightly negative growth. This was driven by frozen food in North America, where growth improved but remains negative, partially offset by growth in ambient culinary products, especially Maggi. Annex Second quarter performance tables Total Group Zone Americas Zone AOA Zone Europe Nestlé Health Science Nespresso Nestlé Waters & Premium Beverages Other businesses Sales Q2-2025 (CHF m) 21,627 8,315 4,903 4,114 1,632 1,577 1,012 74 Sales Q2-2024 (CHF m) 22,953 9,182 5,247 4,094 1,728 1,593 1,031 78 Real internal growth (RIG) - 0.4% - 1.2% - 1.2% 0.2% 1.9% 1.4% 2.9% - 2.1% Pricing 3.3% 3.5% 2.9% 4.5% 0.8% 4.4% 2.7% 2.5% Organic growth 3.0% 2.3% 1.7% 4.7% 2.7% 5.8% 5.6% 0.3% Total Group Powdered & liquid beverages Water Milk products & ice cream Nutrition & Health Science Prepared dishes & cooking aids Confec-tionery PetCare Sales Q2-2025 (CHF m) 21,627 6,184 889 2,288 3,580 2,391 1,770 4,525 Sales Q2-2024 (CHF m) 22,953 6,194 920 2,584 3,957 2,634 1,802 4,862 Real internal growth (RIG) - 0.4% 0.7% 1.3% - 0.3% - 1.6% - 2.5% - 3.2% 1.1% Pricing 3.3% 6.8% 3.0% 1.7% 1.3% 0.8% 11.3% - 0.1% Organic growth 3.0% 7.5% 4.3% 1.4% - 0.4% - 1.7% 8.1% 1.0%
Yahoo
23-07-2025
- Business
- Yahoo
H1 25 Results: Increased Profitability Despite Subdued Revenues
Ad hoc announcement pursuant to Art. 53 LR MEDIA RELEASE Baar, Switzerland--(Newsfile Corp. - July 23, 2025) - Ad hoc announcement pursuant to Art. 53 LR Half-Year 2025 Results To view an enhanced version of this graphic, please visit: Increased profitability despite subdued revenues HALF-YEAR 2025 HIGHLIGHTS Revenue at CHF 225.4m, -6.5% (- 4.6% organic FX adj.). Healthcare segment grew 7.5% (organic FX adj.) driven by Dental and Surgery. Consumer & Industrial segment declined 10.9 % organic FX adj. on low commercial activity and project delays in Beauty Adj. EBITDA margin at 19.9%, +80 bps YoY on higher Dental volume and continued gross profit margin improvements in Industry Segment gross profit margin up 390 bps to 47.9%, positively impacting EBIT as a percentage of revenues (+170 bps) Free Cash Flow at CHF 11.4m (+50.9% yoy); Operating Net Cash Flow (ONCF) at CHF 15.3m (-24.1% yoy) reflecting inventory build-up mainly in Dental to mitigate potential tariff impact Well on track with Growth and Efficiency program: CHF 15m savings impact secured, CHF 8.5m realized in first half 2025 and 70 efficiency initiatives initiated Acceleration of cost out initiatives and CHF 3m additional actions identified, specifically targeted at Beauty business unit Strengthened leadership team: new CHRO, CTO and Business Unit Head Drug Delivery Revised 2025 revenue guidance: decline similar to that seen in H1 2025 (FX adj.) Confirmed 2025 profitability guidance: adjusted EBITDA margin 18% to 19% Confirmed mid-term guidance: CAGR in revenue of above 4%, adj. EBITDA margin of above 20% CEO René Willi said: 'We are on track with our strategy to pivot to high growth/high margin healthcare businesses. We have significantly improved profitability, which on the one hand is driven by strong growth in our most profitable Healthcare businesses Dental and Surgery, and on the other hand, by the impact of our Growth and Efficiency program. Our group revenues have been impacted by lower Beauty sales, which were the result of lower commercial activity, project delays and a high comparable in H1 2024. We have accelerated additional cost out measures of CHF 3m targeted at our Beauty business unit to maintain our high profitability levels.' Revenue key figures To view an enhanced version of this graphic, please visit: GROUP REVIEW In the first half of 2025, medmix generated revenue of CHF 225.4 million, 6.5% lower year-on-year. Foreign exchange rate effects of -2.0% negatively impacted underlying organic volume growth during the period which stood at -4.6%. Compared to the second half of 2024, however, Group revenues declined by -7.1% on a reported basis and by -5.1% organically. Healthcare segment revenue grew strongly in the first half of 2025, with two of the three Healthcare business units delivering robust year-on-year organic growth well above market rates, Surgery 26.1% and Dental 10.1%. Adverse impacts from Drug Delivery offset some of this growth. Healthcare segment revenues increased by 6.2% on a reported basis and 7.5% organically, with the difference of -1.3% entirely due to foreign exchange effects. Dental business unit organic revenue grew 10.1% year-on-year due to successful growth outside the historically strong impression material sector, resulting in above market growth additionally supported by stronger market conditions. Sequential organic revenues were down slightly 0.3%, partly due to uncertainty generated by US tariffs timing. Drug Delivery business unit revenue declined by 4.9% organically as H1 2024 included some non-repeat project milestones due to close out of a customer project. Surgery business unit revenue saw a 26.1% organic increase due to a lower base in H1 2024. Our customer base is growing as we move our commercial and manufacturing HQ to Atlanta. A continuation of the positive growth trajectory of the Dental and Surgery business units' revenue is expected in the second-half, at a more normalized level. The second source impact in the Drug Delivery business unit will again partly offset this growth. Consumer & Industrial segment organic revenue declined by 10.9%, driven by continued weakness in the Beauty markets and overall low consumer confidence. Industry business unit revenue reached CHF 63.5 million in the first half of 2025, organically 1.3% lower versus the first half of 2024. Sequentially, the Industry business unit delivered robust organic growth of 5.6% as we continue to deliver our full portfolio from our plant in Valencia and expand our greenLine offering. Management remains cautious of the global economic landscape and its impact on the Industry business unit. Beauty business unit organic revenue declined year-on-year by 17.7% to CHF 73.8 million, due to project delays and lower commercial activity in our business. In comparison, H1 2024 saw Beauty's highest half-year revenue in five years, where it benefited from a high level of launch activity after the lifting of covid restrictions. We expect this slower activity to continue in the second half. We have seen an increase in customer projects activity in Q2 2025, which will provide revenue growth momentum in 2026. Additionally, medmix has accelerated decisive cost-out measures to adapt the cost base to business volume and protect profitability. Gross profit margin, segment gross profit Segment gross profit, which does not include shared cost and cost absorption, grew by 1.6% to CHF107.9 million, despite a decline in Group revenues, delivering a strong margin of 47.9%. Healthcare segment gross profit increased by CHF 3.9 million, a growth of 7.5% year-on-year, in line with the revenue growth. Resulting segment gross profit margin was a strong 62.7%. Dental and Surgery segments margin growth was partly offset by the profit pressure from the Drug Delivery business unit as it remains in ramp-up mode, with more projects than commercial product sales. Consumer & Industrial first-half segment gross profit decreased by 4.0% year-on-year, due to the impact of decrease in Beauty volumes. Importantly, the segment delivered a robust gross profit margin of 38.3%, an increase of 370bps year-on-year, driven by operational efficiencies from our Growth and Efficiency program, driving margin expansion across both Industry and Beauty business units. Adjusted EBITDA Group Adjusted EBITDA was CHF 44.9 million, a decrease of 2.5% year-on-year, with our Growth and Efficiency program limiting the impact on profitability resulting from lower revenues. While there was a decline in the absolute Adjusted EBITDA, Adjusted EBITDA margin was 19.9%, having grown sequentially for two consecutive halves, compared to 19.1% in H1 2024 and 19.2% in H2 2024. The group delivered a robust profitability improvement of 80bps year-on-year, offsetting the impact of lower volumes and additional investments made in our Growth and Efficiency program. The year-on-year and sequential improvement is primarily driven by the continuation of strong Dental volumes and operational efficiencies in Consumer and Industrial segment. EBIT increased year-on-year from CHF 12.9 million to CHF 15.7 million, EBIT as a percentage of revenues increased 170bps to 7.0%. Net income Net income increased by CHF 1.4 million to CHF 6.9 million (thereof CHF 6.8 million attributable to shareholders of medmix AG) from CHF 5.6 million (thereof CHF 5.2 million attributable to shareholders of medmix AG) in the prior period. Operating Net Cash Flow (ONCF) Operating Net Cash Flow for H1 2025 decreased to CHF 15.3 million compared to the same period a year ago (CHF 20.1 million) mainly due to inventory build-up in the Dental business unit while Free Cash Flow increased from CHF 7.6 million in H1 2024 to CHF 11.4 million in the first half of 2025, mainly due to lower CAPEX, which may however increase in the second half. GROWTH & EFFICIENCY PROGRAM Our Growth and Efficiency program launched in 2024 aims at enhancing growth by re-allocating resources to our strategic priorities and improving our performance by strategically reducing costs. With CHF 15 million savings impact secured and CHF 8.5 million realized in the first half of 2025, we are on track with our goal for H1 2025. We have implemented 70 efficiency initiatives, such as reducing headquarters and support functions or automating productions processes in our factories. We will also continue to invest in our sales organization and in R&D, which will ensure we remain at the forefront of innovation in both our segments. This program will not impact our ability to maintain our innovation pace and quality standards and will ultimately lead to an increase in our service levels. STRENGTHENED LEADERSHIP TEAM In the past half year, we have significantly strengthened our management team with seasoned leaders. Jasper Den Ouden joined medmix as of March this year as Chief Human Resources and Sustainability Officer. Jasper brings extensive international HR leadership experience. He most recently served as Chief Human Resources Officer at SR Technics Group in Zurich where he led HR for 2,200 employees and drove key initiatives in digital transformation, talent development, ESG and organizational change. We are also very happy to welcome Francisco Faoro and Oliver Haferbeck to our Executive Leadership Team. Oliver was appointed as the new Head of Drug Delivery Business Unit in June. He brings a wealth of international leadership experience in the healthcare and medical technology sectors. Most recently, he served as Head of Gerresheimer Advanced Technology and CEO of Sensile Medical AG, where he led innovation in advanced drug delivery systems. His tenure at Gerresheimer was marked by a strong focus on strategic growth, technological advancement, and operational excellence. Francisco Faoro joined medmix as Chief Technology Officer in May. Francisco brings extensive international leadership experience in technology and innovation. He held multiple senior leadership roles at Straumann Group, successfully preparing multiple implant innovations creating significant growth momentum. Prior to his tenure in the dental field, Francisco had several managerial positions in brand management and product development within the orthopedic and polymer processing industries. OUTLOOK Based on H1 2025 actuals and our outlook for the full year, we now expect a full year revenue decline similar to that seen in H1 2025 on an FX adjusted basis. Our 2025 guidance for profitability with an adjusted EBITDA margin of 18-19% remains unchanged, as does our mid-term guidance –over a three-year period– with a compound annual growth rate in revenues of above 4% and an adj. EBITDA margin above 20%. Key figures To view an enhanced version of this graphic, please visit: The medmix half-year report is available to download here. Half-year 2025 results presentation Webcast participation medmix management will present the half-year results 2025 as a webcast on July 23, 2025, at 08:30 CET. A webcast invitation was sent to medmix news subscribers early July. If you have not received it and wish to participate, please click here to pre-register by 08:00 CET latest to receive the link to the webcast and dedicated dial-in details. Webcast playback The playback of the webcast will be available shortly after the event under the same link. Inquiries Investor Relations: investorrelations@ Media Relations: communications@ Key dates in 2025/2026 February 26, 2026 Full-year results 2025 About medmix medmix is a global leader in high-precision delivery devices. Our customers benefit from a dedication to innovation and technological advancement that has resulted in over 900 active patents. Our 14 production sites worldwide together with our highly motivated and experienced team of nearly 2,700 employees provide our customers with uncompromising quality, proximity, and agility. medmix is headquartered in Baar, Switzerland. Our shares are traded on the SIX Swiss Exchange (SIX: MEDX). Disclaimer This document may contain forward-looking statements including, but not limited to, projections of financial developments, market activity, or future performance of products and solutions containing risks and uncertainties. These forward-looking statements are subject to change based on known or unknown risks and various other factors that could cause actual results or performance to differ materially from the statements made herein. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
