The Swiss group, owner of the KitKat and Nescafé brands, had already inflated its prices by 8.2% in 2022 but this was not enough to offset the rising cost of ingredients, such as coffee or dairy products.
Regarding the outlook, Nestlé plans to increase its profit margin in 2023, continued Mark Schneider. The underlying operating margin should be between 17% and 17.5%. The food group is also aiming for sales growth of between 6 and 8% fueled largely by a further increase in prices, he said.
