REG - Nestle SA - Nestlé Nine-month sales 2025
16/10/2025 07:00
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RNS Number : 6419D Nestle SA 16 October 2025
Nestlé Press Release
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Vevey/Switzerland, October 16, 2025
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[Ad hoc announcement pursuant to Art. 53 LR]
Nine-month sales 2025: Positive trends; focus on driving growth
Philipp Navratil, Nestlé CEO commented: "Driving RIG-led growth is our number
one priority. We have been stepping up investment to achieve this, and the
results are starting to come through. Now we must do more and move faster to
accelerate our growth momentum.
As Nestlé moves forward, we will be rigorous in our approach to resource
allocation, prioritizing the opportunities and businesses with the highest
potential returns. We will be bolder in investing at scale and driving
innovation to deliver accelerated growth and value creation. We are fostering
a culture that embraces a performance mindset, that does not accept losing
market share, and where winning is rewarded.
The world is changing, and Nestlé needs to change faster. This will include
making hard but necessary decisions to reduce headcount over the next two
years. We will do this with respect and transparency. Along with other
measures, we are working to substantially reduce our costs, and today we are
increasing our savings target to CHF 3.0 billion by the end of 2027.
The actions we are taking will secure Nestlé's future as a leader in our
industry. Collectively, they will enable us to improve our overall performance
and deliver shareholder value."
Sales performance summary
Total Zone Zone Zone Nestlé Nespresso Nestlé Waters Other businesses
Group
Americas
AOA
Europe
& Premium Beverages
Health
Science
Sales 9M-2025 (CHF m) 65 869 25 294 15 263 12 785 4 849 4 706 2 753 219
Sales 9M-2024 (CHF m) 67 148 26 567 15 641 12 456 4 915 4 586 2 765 218
Real internal growth (RIG) 0.6% -0.4% 0.3% 0.5% 4.1% 2.4% 2.0% 2.2%
Pricing 2.8% 2.9% 2.4% 3.7% -0.3% 4.3% 2.4% 1.6%
Organic growth 3.3% 2.5% 2.7% 4.3% 3.8% 6.7% 4.4% 3.8%
Net M&A 0.1% -0.1% -0.4% 0.9% -0.3% 0.3% -0.0% -0.0%
Foreign exchange -5.4% -7.2% -4.8% -2.5% -4.8% -4.3% -4.8% -3.4%
Reported sales growth -1.9% -4.8% -2.5% 2.6% -1.4% 2.6% -0.4% 0.4%
Financial and operational highlights
· Broad-based topline improvement
○ 9M organic sales growth (OG) of 3.3%, with 0.6% real internal growth
(RIG) and 2.8% pricing.
○ OG strengthened sequentially during the period across all Zones and
major global businesses, led by improved RIG across all major categories.
○ Q3 OG of 4.3%; RIG recovered strongly to 1.5%, driven by our growth
investments and actions to manage price elasticity, helped by an easier
comparison base.
○ Greater China continues to be a drag, impacting Q3 Group OG by 80
bps and RIG by 40 bps; new management is now in place and executing our plan
to transform this business.
· Growth investments delivering results
○ In 9M-25, OG increased to 3.3% from 2.0% in 9M-24. The vast majority
of this 130 bps acceleration was driven by areas where we are focusing growth
investments and execution improvement:
- 60 bps from our priority growth opportunities (which accounted for 10% of
total sales), where OG accelerated to 14% from 7%;
- 40 bps from the 18 key underperforming business cells, where OG improved
to flat from -2.5%.
Strategic priorities for the coming months
· Rigorously prioritizing growth opportunities
○ Clear focus on allocating capital in a rational, data-based, and
unbiased way, supporting the strongest opportunities with increased investment
at scale.
○ Increased ambition on innovation, building on the momentum of the
six global 'big bets' and broadening our approach, including a step change in
consumer insights and marketing capabilities.
· Accelerating our Fuel for Growth cost savings program
○ Increased focus on operational efficiency, including leveraging
shared services and automating our processes, to drive positive business
transformation.
○ Planned global headcount reduction of c. 16,000 over next two years,
subject to consultation where applicable:
- Includes c. 12,000 white-collar professionals across functions and
geographies, driving annual savings of CHF 1.0 billion by end of 2027 (doubled
versus original plan of CHF 0.5 billion); related one-off restructuring costs
expected at two times annual savings;
- Further c. 4,000 headcount reduction as part of ongoing productivity
initiatives in manufacturing and supply chain.
○ Total Fuel for Growth cost savings target increased to CHF 3.0
billion (up from CHF 2.5 billion previously) by the end of 2027.
· Focused on driving cash generation, committed to sustainable
shareholder returns
○ Clear plan to deliver free cash flow above CHF 8 billion in 2025,
recovering in 2026 onwards with FCF growth in CHF that is consistently higher
than dividend growth.
○ Committed to our long-standing dividend practice.
2025 guidance
· Organic sales growth is expected to improve compared to 2024.
Sequentially, momentum remains positive, although the comparison base will be
tougher in Q4.
· UTOP margin is expected to be at or above 16.0%, as we invest for
growth; this includes increased negative impact from tariffs currently in
place and current foreign exchange rates.
· Despite ongoing risks from macroeconomic and consumer uncertainties,
we remain committed to investing for the medium term.
Follow today's event live
09:30 CEST Analyst & investor call - video webcast:
https://edge.media-server.com/mmc/go/Nestle_2025-nine-month-sales/
Full details on our website:
https://www.nestle.com/media/mediaeventscalendar/allevents/2025-nine-month-sales
Press release links
9M sales press release - French (pdf):
https://www.nestle.com/sites/default/files/2025-10/nine-month-sales-press-release-2025-fr.pdf
9M sales press release - German (pdf):
https://www.nestle.com/sites/default/files/2025-10/nine-month-sales-press-release-2025-de.pdf
Contacts:
Media Christoph Meier Tel.: +41 21 924 2200 mediarelations@nestle.com (mailto:mediarelations@nestle.com)
Investors David Hancock Tel.: +41 21 924 3509 ir@nestle.com (mailto:ir@nestle.com)
Sales review
1. Group
In the first nine months, total reported sales were CHF 65.9 billion, a
decrease of 1.9%. OG was 3.3%, with positive growth across all Zones and
globally managed businesses. RIG strengthened to 0.6%, while pricing was
steady at 2.8%. Foreign exchange movements had a negative impact of 5.4% and
net acquisitions a positive 0.1% impact.
In the third quarter, OG was 4.3%, strengthening from 2.9% in the first half.
RIG recovered strongly in Q3 to 1.5%, with improvements across all major
product categories, benefiting from our growth investments. Pricing was 2.8%,
which reflects increases taken in confectionery and coffee, along with some
targeted actions in Q3 to optimize pricing and maintain medium-term consumer
penetration.
By category, coffee and confectionery were the largest organic growth
contributors. This growth was pricing-led, with double-digit increases in some
markets. Elasticity was more pronounced in confectionery, consistent with
historical trends, with coffee more resilient as RIG remains positive through
the nine month period. Outside of coffee and confectionery, organic growth was
positive across most categories.
By geography, all regions contributed to positive organic growth. In developed
markets, organic growth was 2.1%, with an even balance between RIG and
pricing. In emerging markets, organic growth was 5.2%, driven by pricing with
RIG flat.
By channel, organic growth in retail sales was 3.1%. Organic growth of
out-of-home channels was 6.2%. E-commerce sales grew organically by 13.2%,
reaching 20.2% of total Group sales.
2. Operating segments
Zone Americas
9M-25 highlights: Zone Americas delivered broad-based 2.5% OG in the first
nine months, despite ongoing macroeconomic uncertainty and fragile consumer
confidence. In North America, OG, RIG and pricing were all slightly positive,
with improving market share trends across most categories. In Latin America,
OG was 6.8%, led by pricing in confectionery and coffee, as well as continued
strong performance in out-of-home.
Q3-25 highlights: OG was 3.4%, with 3.4% pricing and flat RIG. North America
OG was 0.5%, the same as in Q2. Pricing strengthened slightly, driven
primarily by increases in coffee, with some short-term elasticity effects
negatively impacting RIG. In Latin America, OG and RIG accelerated across all
categories in Q3, led by coffee, confectionery and nutrition, and helped by
the comparison base.
Segment performance summary for 9M-25
· Organic growth was 2.5%, with -0.4% RIG and 2.9% pricing.
· Reported sales were down versus the prior year at CHF 25.3
billion, including a negative impact of 7.2% from foreign exchange movements.
· In North America, OG was 0.4%, with 0.2% RIG and 0.2% pricing. In
Latin America, OG was 6.8%, with -1.4% RIG and 8.3% pricing.
· By market, growth was seen across almost all regions, led by
Brazil.
· Market share gains were achieved in North America in portion and
soluble coffee, baking chocolate and frozen meals, with continued positive
market share progress in coffee enhancers and frozen pizza. In Latin America,
we saw market share losses in confectionery, ambient dairy and soluble coffee.
Key organic sales growth drivers by product category for 9M-25
· Beverages (including coffee and coffee enhancers) posted
high-single digit growth, strengthening through the period, with strong
pricing and positive RIG. Nescafé and coffee enhancers were key contributors
to growth.
· Confectionery delivered high single-digit growth, led by pricing
in Tollhouse (US) and Garoto (Brazil). RIG remained negative but improved
sequentially, helped by actions to manage price elasticities in chocolate and
by expansion in chocobakery.
· In Nestlé Professional growth accelerated to high-single digits
with strong contributions from most categories, especially in Latin America.
· PetCare growth was positive, driven by Latin America, with North
America RIG and pricing both broadly flat. Stronger contributions from cat
were partially offset by weaker category dynamics in dog, impacting mainstream
and snacks.
· Infant Nutrition sales declined for the period, but returned to
growth in Q3, led by an improvement in Nido, while performance in Gerber
remains challenged.
· In frozen food, growth remains negative but the trend improved
further, with market share gains in Stouffer's and solid progress in frozen
pizza.
Zone Asia, Oceania and Africa
9M-25 highlights: In Zone AOA, 2.7% OG in the first nine months was again
broad-based across markets and categories, with the strongest contributions
from Central & West Africa, South Asia and the Philippines. In Greater
China, sales declined in a deflationary environment as we continued to improve
the business model. By category, growth in Zone AOA was led by strengthening
performance in coffee and food, along with RIG-led growth in confectionery.
Q3-25 highlights: OG was 3.5%, with 1.9% pricing and 1.5% RIG. In Zone AOA
excluding Greater China, OG reached 7.3%, continuing the trend of sequential
improvement seen during the first half. Q3 RIG of 3.7% is the strongest since
2021. In Greater China, Q3 OG of -10.4% was in-line with Q2, as we bring down
excess inventory and new leadership refocuses the organization on demand
generation.
Segment performance summary for 9M-25
· Organic growth was 2.7%, with 0.3% RIG and 2.4% pricing.
· Reported sales were down versus the prior year at CHF 15.3
billion, including a negative impact of 4.8% from foreign exchange movements.
· In Zone AOA excluding Greater China, organic growth was 5.3% with
1.3% RIG and 4.0% pricing.
· In Greater China, organic growth was -6.1%, with -2.9% RIG and
-3.2% pricing.
· Market share gains were achieved in confectionery, PetCare and
cocoa malt beverages while soluble coffee and ambient culinary showed an
improving trend.
Key organic sales growth drivers by product category for 9M-25
· Coffee grew at mid single-digit, driven by pricing. The largest
growth contributor was Nescafé soluble. Consumer traction was strong in
investment areas of Nescafé Espresso Concentrate and ready-to-drink coffee.
· Confectionery grew at a high single-digit pace, driven by KitKat
with strong double-digit growth in South Asia and Japan. Chocobakery has been
launched in several markets and is performing well.
· Culinary delivered mid single-digit growth fueled by solid sales
momentum and market share gains for Maggi with double-digit growth in key
markets like Central & West Africa, South Asia and the Philippines.
· Nestlé Professional achieved mid single-digit growth,
broad-based across geographies and product segments, led by dairy and coffee.
· PetCare growth was negative, driven by Greater China and
developed markets; growth in other emerging markets was strong double-digit.
· Infant Nutrition and dairy growth was positive, led by
double-digit growth in both Milo and NAN.
Zone Europe
9M-25 highlights: In Zone Europe, OG was 4.3% with RIG of 0.5%, strengthening
across most key markets and categories during the period. Growth was driven by
coffee and confectionery, with targeted pricing to address input cost
inflation, and by RIG-led growth in PetCare.
Q3-25 highlights: In Q3, OG was 5.8%, with 3.8% pricing and 2.0% RIG. OG was
driven by coffee and confectionery. RIG increased in coffee and recovered
strongly in confectionery, both driven by reduced consumer and customer
elasticity effects, and helped by an easing comparison base. PetCare continued
to perform well, and was the primary driver of the 2.0% RIG. By market, growth
was solid across most of the Zone, with an improving performance in key
markets such as UK & Ireland and France.
Segment performance summary for 9M-25
· Organic growth was 4.3%, with 0.5% RIG and 3.7% pricing.
· Reported sales were up versus the prior year at CHF 12.8 billion,
including a negative impact of 2.5% from foreign exchange movements.
· Growth was positive across most markets and categories, with the
strongest contributions from Türkiye, Iberia, South & Eastern Europe and
Nordics.
· Market share gains were achieved in PetCare with losses in
confectionery.
Key organic sales growth drivers by product category for 9M-25
· Coffee growth was high single-digit, led by pricing, with RIG
improving gradually during the period. The largest growth contributors were
Nescafé soluble, ready-to-drink and portion coffee.
· Confectionery posted strong mid single-digit growth, driven by
pricing, with KitKat and Dessert both delivering double-digit growth.
· PetCare delivered mid single-digit growth. Growth was RIG-led and
broad-based across markets, led by Felix, Pro Plan and ONE.
· Sales in Nestlé Professional grew at a high single-digit rate,
driven by beverage solutions.
· Infant Nutrition recorded positive growth, in line with subdued
category dynamics.
· Food experienced a sales decline due to a challenging customer
and competitive environment in some markets, but improved through the period
and was flat in Q3.
Nestlé Health Science
9M-25 highlights: In Nestlé Health Science, OG for the first nine months was
solid, with all segments contributing to positive RIG-led growth. In VMS,
premium brands grew strongly, partially offset by the discontinuation of some
private label business and a weaker performance across some mainstream brands.
In Active Nutrition, Orgain sustained its strong growth momentum, supported by
new product launches. In Medical Nutrition, solid growth was driven by
pediatric care products.
Q3-25 highlights: In Q3, growth was mid single-digits, supported by strong
growth in Active Nutrition and an improvement in VMS for Nature's Bounty.
Growth in Medical Nutrition eased to a mid-single digit pace reflecting the
impact of negative pricing linked to changes in drug reimbursement models in
the US.
The strategic review of our mainstream and value brands in VMS is ongoing,
which may result in the divestment of these brands.
Segment performance summary for 9M-25
· Organic growth was 3.8%, with 4.1% RIG and -0.3% pricing.
· Reported sales decreased by 1.4% to CHF 4.8 billion, including a
negative foreign exchange impact of 4.8%.
· Market share was stable in Medical Nutrition, with losses in VMS
and Active Nutrition.
Key organic sales growth drivers by product category for 9M-25
· 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 strong sales momentum in
premium brands, particularly Pure Encapsulations and Solgar, was partially
offset by the discontinuation of some private label activities and sales
declines in some mainstream and value brands.
· Active Nutrition posted mid single-digit growth, with strong
momentum for Orgain partially offset by a weaker performance from Vital
Proteins.
· Medical Nutrition delivered mid single-digit growth, led by
pediatric care products, with strong double-digit growth in the allergy range.
Nespresso
9M-25 highlights: Nespresso delivered robust OG of 6.7%, led by pricing and
with solid RIG. In North America, we increased our growth investments and
delivered double-digit growth with market share gains. Vertuo continued to
deliver very solid performance with positive growth across all geographies. In
Western Europe, the environment remains competitive.
Q3-25 highlights: In Q3, OG was 8.5%, with 3.3% RIG and 5.3% pricing. OG was
driven by the US, supported by strong impact in the quarter from the timing of
innovation launches and marketing campaigns, as well as some phasing effects.
In Europe, RIG trends improved in key markets such as France, Switzerland and
UK & Ireland, supported by growth in e-commerce and resilience in
out-of-home.
Segment performance summary for 9M-25
· Organic growth was 6.7%, with 2.4% RIG and 4.3% pricing.
· Reported sales growth was up versus the prior year at CHF 4.7
billion, including a negative foreign exchange impact of 4.3%.
· Market share gains in North America continue to increase while
stabilizing in Europe.
Key organic sales growth drivers for 9M-25
· By geography, sales in North America grew at a double-digit rate,
led by RIG. Growth was fueled by strong innovation (limited editions,
functional coffees, double espresso formats, accessories) and effective brand
campaigns and collaborations. Europe posted positive growth, with improving
trends across key markets in Q3.
· By system, growth was driven by Vertuo. Sales for out-of-home
channels grew mid single-digits, led by the hotels, restaurants and catering
(horeca) sector and positive machine placements.
· Digital transformation continues to drive growth. The new mobile
app is now live in 21 markets, we have successfully launched Starbucks
direct-to-consumer in several markets, and we are expanding in e-retail and
marketplaces.
Nestlé Waters & Premium Beverages
9M-25 highlights: Performance in our waters and premium beverages business was
broad-based across geographies, brands and sales channels. Growth was driven
by the Maison Perrier and Sanpellegrino beverage platforms with continued
innovation, as well as solid sales momentum for out-of-home channels.
Q3-25 highlights: In Q3, growth moderated slightly as cooler temperatures
reduced category momentum in European markets at the end of the peak season
after a strong start to the summer.
Our strategic evaluation of the business is ongoing, including exploring
partnership opportunities.
Segment performance summary for 9M-25
· Organic growth was 4.4%, with 2.0% RIG and 2.4% pricing.
· Reported sales remained stable at CHF 2.8 billion including a
negative impact from foreign exchange of 4.8%.
· Market share continued to improve in most markets, led by strong
gains for S.Pellegrino.
Key organic sales growth drivers for 9M-25
· By geography, AOA posted high single-digit growth, Europe and the
Americas delivered mid single-digit growth.
· Growth was driven by continued strong momentum in premium
beverages, driven by the international expansion of Maison Perrier and
Sanpellegrino Ciao and Zero ranges.
· Within waters, we saw solid growth from Acqua Panna, S.Pellegrino
and Erikli, with a weaker performance from Perrier reflecting continued supply
constraints.
3. Category performance
Total Powdered & liquid beverages Water Milk products & ice cream Nutrition & Health Science Prepared dishes & cooking aids Confec-tionery PetCare
Group
Sales 9M-2025 (CHF m) 65 869 18 443 2 431 7 175 10 718 7 445 6 074 13 583
Sales 9M-2024 (CHF m) 67 148 17 952 2 474 7 648 11 313 7 826 5 920 14 015
Real internal growth (RIG) 0.6% 1.2% 0.7% 0.8% 0.1% -0.6% -1.5% 1.6%
Pricing 2.8% 6.3% 2.7% 1.0% 0.4% 0.3% 9.6% -0.5%
Organic growth 3.3% 7.5% 3.4% 1.8% 0.5% -0.4% 8.0% 1.2%
Powdered and liquid beverages continues to be the largest category growth
contributor with 7.5% organic growth, led by pricing as we took actions to
address input cost inflation in coffee. RIG remained positive as we saw only a
limited impact from elasticity.
Confectionery organic growth of 8.0% was driven by pricing and led by KitKat.
Negative RIG reflects short-term elasticity as consumers respond to the price
increases.
PetCare organic growth of 1.2% reflects a general category slowdown. Growth
was led by wet and dry cat partly offset by weakness in dry dog.
Milk products and Ice cream organic growth of 1.8% led by continued
performance from dairy culinary brands Nestlé and La Lechera.
Water delivered organic growth of 3.4% led by good performance from Maison
Perrier and S.Pellegrino.
Nutrition and Health Science recorded organic growth of 0.5% with strong
performance from NAN and Orgain offset by weakness in illuma and Gerber.
Prepared dishes and cooking aids reported slightly negative organic growth of
0.4% driven by weakness in US Frozen Foods partly offset by growth in Maggi.
Annex
Third-quarter performance
Total Zone Zone Zone Nestlé Nespresso Nestlé Waters Other businesses
Group
Americas
AOA
Europe
Health
& Premium Beverages
Science
Sales Q3-2025 (CHF m) 21 641 8 340 4 821 4 318 1 624 1 534 932 72
Sales Q3-2024 (CHF m) 22 104 8 746 5 050 4 114 1 676 1 489 956 73
Real internal growth (RIG) 1.5% 0.0% 1.5% 2.0% 5.6% 3.3% 1.4% 5.1%
Pricing 2.8% 3.4% 1.9% 3.8% -1.0% 5.3% 2.4% 0.0%
Organic growth 4.3% 3.4% 3.5% 5.8% 4.6% 8.5% 3.8% 5.1%
Total Powdered & liquid beverages Water Milk products & ice cream Nutrition & Health Science Prepared dishes & cooking aids Confectionery PetCare
Group
Sales Q3-2025 (CHF m) 21 641 6 135 820 2 345 3 481 2 394 2 112 4 354
Sales Q3-2024 (CHF m) 22 104 5 911 853 2 460 3 677 2 564 2 075 4 563
Real internal growth (RIG) 1.5% 2.4% 0.2% 2.2% 1.9% 0.3% -0.5% 1.3%
Pricing 2.8% 7.3% 2.5% 1.1% -0.3% 0.5% 7.6% -0.4%
Organic growth 4.3% 9.7% 2.7% 3.3% 1.6% 0.9% 7.1% 0.9%
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