Cadbury-owner cautious as chocolate lovers baulk at price hikes

Core Insights - Mondelez reported a rise in sales in the final quarter but indicated that consumers are beginning to reduce spending due to significant price increases [1] - Profit margins have been steadily increasing throughout 2023, driven by higher prices for products like Toblerone and Ritz Crackers [1] - The company anticipates customer disruption in Europe during the first quarter and potentially into the second quarter due to ongoing high inflation [1] Financial Performance - Revenues in the fourth quarter increased by 7.1% to US$9.8 billion, while annual revenues rose by 14.4$36 billion [2] - Net earnings for the year increased by 13.1% to US$4.37 billion on an adjusted basis [2] - European revenues rose by 11.6% in the final three months, with volume growth contributing 3.3 percentage points and price increases contributing 8.3 percentage points [1] Regional Insights - In North America, Mondelez experienced a decline in volumes by 5.5 percentage points in the fourth quarter, attributed to weaker biscuit sales and inventory control, while prices rose by 7.4 percentage points [1] - The company noted balanced growth across developed and emerging markets, with strong performance in all regions [2]