Nestle's sales for the first half of the year fell 3% to 45 billion Swiss francs

Nestlé S.A. announced on Thursday that sales for the first half of 2024 were 45 billion Swiss francs, down 3% from the same period in fiscal 2023.

The company's existing business growth rate for 6 months was 2.1%. Net profit was 5.6 billion Swiss francs on par with the same period last year, earnings per share (EPS) increased 2% to 2.16 Swiss francs, and basic EPS increased 3% to 2.51 Swiss francs. Nestlé revised its outlook for 2024 downward, and this year's existing business sales growth rate is expected to be “at least 3%,” and emphasized that basic earnings per share are expected to grow “in the middle of the single-digit range.”

“Positive real internal growth has returned. Sales volume and composition ratios improved across the Group in the second quarter. Nestlé Health Sciences is recovering as planned, and we can have a strong second half,” said CEO Mark Schneider.