JDE Peet's Organic Sales Growth Forecast

JDE Peet's is anticipating a boost in organic sales growth for the upcoming year, following a dip in net profit for 2023. Despite facing increased costs and financial expenses, the Dutch coffee conglomerate maintained stable sales and saw momentum in the second half.

Financial Performance

• Reported sales of 8.19 billion euros for the year ended Dec. 31
• Achieved organic sales growth of 3.9%, falling slightly below estimates
• Price effect of 4.7% and volume/mix effect of minus 0.8%
• Net profit for 2023 reached EUR281 million, missing consensus expectations

Strategic Outlook

• Expects organic growth to trend towards the higher end of the 3% to 5% range for the upcoming year
• Adjusted EBIT of EUR1.13 billion, slightly below projections
• Aimed for mid-single digit organic adjusted EBIT growth for 2024
• Declared a stable dividend of EUR0.70 per share

Overall, Chief Executive Fabien Simon expressed positivity about the company's performance in the second semester of 2023, highlighting organic growth and adjusted EBIT progress.