Nestlé products are becoming more expensive around the world

Zurich, Dusseldorf The Swiss food giant Nestlé is also hit by increased purchase and raw material prices. So far, however, manufacturers of brands such as San Pellegrino, Nespresso, Maggi and KitKat have been able to pass on the higher costs to consumers. Sales increased by 9.2 percent in the first half of 2022 compared to the same period last year, the company announced on Thursday.

Organic growth, which excludes acquisitions, increased by 8.1 percent to 45.6 billion Swiss francs (equivalent to around 46.8 billion euros). The main drivers of the growth were price increases of 6.5 percent on average worldwide. The food giant’s pricing power helped keep its operating margin nearly stable at 16.9 percent.

Nestlé CEO Mark Schneider said: “Our teams in the markets have implemented pricing adjustments in a responsible manner.” As a result, Nestlé has been able to deliver “strong organic sales growth and a significant increase in underlying earnings per share”.