Mondelez Targets Developed Market Revival as CAGNY 2026 Unfolds
Event summary
- Mondelez reaffirmed 3-5% organic net revenue growth and high-single-digit adjusted EPS growth targets at CAGNY 2026.
- CEO Dirk Van De Put emphasized structural actions to restore Developed Market growth while maintaining Emerging Market momentum.
- 2025 performance impacted by cocoa inflation, but company delivered $38.5B revenue and strong free cash flow.
- Portfolio reshaping aims to increase exposure to chocolate, biscuits, and baked snacks to 90% of net revenues over time.
The big picture
Mondelez's CAGNY 2026 presentation underscores the strategic tension between stabilizing Developed Markets and capitalizing on Emerging Market growth. The company's focus on portfolio reshaping and structural actions reflects broader industry trends of category consolidation and supply chain resilience. With $38.5B in revenue, Mondelez's ability to reaccelerate profitable growth will hinge on its execution in key markets and cost management strategies.
What we're watching
- Developed Market Revival
- Whether Mondelez can execute structural actions to restore consumption growth in Europe chocolate and U.S. biscuits.
- Emerging Market Momentum
- The pace at which Mondelez can scale its volume-led growth engine in priority markets like China, India, Brazil, and Mexico.
- Cocoa Supply Resilience
- How long-term actions to improve cocoa supply resilience will impact margins and operational efficiency.
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