RIG

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RIG
$6,83
+$0,00(0,00%)

*Data last updated: 2026-05-04 06:30 (UTC+8)

As of 2026-05-04 06:30, Transocean LTD (RIG) is priced at $6,83, with a total market cap of $6,17B, a P/E ratio of -1,36, and a dividend yield of 0,00%. Today, the stock price fluctuated between $6,58 and $6,89. The current price is 3,79% above the day's low and 0,87% below the day's high, with a trading volume of 31,76M. Over the past 52 weeks, RIG has traded between $6,58 to $6,98, and the current price is -2,14% away from the 52-week high.

RIG Key Stats

Yesterday's Close$6,82
Market Cap$6,17B
Volume31,76M
P/E Ratio-1,36
Dividend Yield (TTM)0,00%
Dividend Amount$0,15
Diluted EPS (TTM)3,04
Net Income (FY)-$2,91B
Revenue (FY)$3,96B
Earnings Date2026-05-04
EPS Estimate0,07
Revenue Estimate$1,02B
Shares Outstanding905,88M
Beta (1Y)1.375
Ex-Dividend Date2015-08-21
Dividend Payment Date2015-09-23

About RIG

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
SectorEnergy
IndustryOil & Gas Drilling
CEOKeelan I. Adamson
HeadquartersSteinhausen,None,CH
Employees (FY)5,60K
Average Revenue (1Y)$708,03K
Net Income per Employee-$520,53K

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Transocean LTD (RIG) Latest News

2026-04-27 13:01

Luxor and MicroBT Deepen Partnership with $100 Million Mining Rig Deal and Strategic Investment

Gate News message, April 27 — Luxor Technology Corporation, a bitcoin mining infrastructure firm, announced on Sunday (April 20) a significant expansion of its partnership with MicroBT, committing $100 million to purchase WhatsMiner mining rigs. As part of the deal, MicroBT has signed a term sheet to invest in Luxor through its investment manager Inflection Technology Ltd.; the investment size was not disclosed. Luxor is also expanding support for MicroBT WhatsMiner machines through its LuxOS firmware. The new firmware features include power target transitions that can be completed in 30 to 60 seconds while continuing hash operations, and improved ramp-up time during curtailment events. WhatsMiner operators using LuxOS will gain access to Luxor's broader suite of services, including mining pool, hashrate derivatives, energy services, and Luxor Commander for fleet management. Luxor said it will roll out LuxOS support for WhatsMiner rigs in phases. The company's firmware currently runs on more than 300,000 bitcoin mining rigs globally. Beyond mining, Luxor has also expanded into AI infrastructure, offering GPUs, servers, storage, and networking solutions to support miners building AI and high-performance computing infrastructure.

2026-04-27 08:49

Luxor and MicroBT Deepen Partnership with $100M Mining Rig Deal and Strategic Investment

Gate News message, April 27 — Luxor Technology Corporation, a bitcoin mining infrastructure firm, is expanding its partnership with MicroBT through a $100 million commitment to purchase WhatsMiner mining rigs, with MicroBT planning a strategic investment in Luxor via its investment manager Inflection Technology Ltd. The investment size was not disclosed. Luxor will extend support for MicroBT WhatsMiner machines through its LuxOS firmware, which will enable new capabilities including power target transitions within 30 to 60 seconds while continuing to hash, and improved ramp-up time during curtailment events. LuxOS support will be rolled out in phases, granting operators access to Luxor's broader suite of services including mining pool, hashrate derivatives, energy services, and Luxor Commander for fleet management. "Our clients have been asking for WhatsMiner firmware for years, and we have shipped a product that is going to help deliver significant profitability and usability benefits," said Lauren Lin, head of hardware and software at Luxor. Luxor's firmware currently runs on more than 300,000 bitcoin mining rigs globally. The company has also expanded into AI infrastructure, announcing in December plans to extend its hardware business to include GPUs, servers, storage, and networking to support bitcoin miners building AI and high-performance computing infrastructure.

2026-04-01 14:10

以太坊基金会研究员:执行票机制将 MEV 收益转化为协议销毁,验证者角色回归纯粹质押

Gate News 消息,4 月 1 日,以太坊基金会稳健激励小组(RIG)负责人 Barnabé Monnot 在 EthCC[9] 大会上介绍了「执行票(Execution Tickets)」机制。他指出,当前 PBS 架构赋予区块提议者过大的垄断权,而执行票将把区块内交易的执行与排序权通过协议层拍卖给持票参与者,验证者仅保留签名与共识职能,不再直接参与 MEV 分配。在经济模型方面,执行票的售卖收入将由协议直接销毁(类似 EIP-1559 机制),原本流向少数高级参与者的 MEV 利润以通缩形式分摊至全体 ETH 持有者。对验证者而言,MEV 收益被票据市场截留后,其收入将变得平滑且可预测,无需再运行复杂的 MEV-Boost 插件或追求硬件与网络优势,家庭质押者的参与门槛因此大幅降低。Barnabé 表示,执行票是以太坊路线图「The Scourge」阶段的核心方案,结合包含列表等机制,将有效防止特定构建者对交易实施审查。

2026-03-02 03:00

2026年03月02日热门币种一览,热度前三为:Perpetual Protocol、Syndicate、Pirate Nation

Gate.io News Bot 消息,2026年03月02日,据 CoinMarketCap 数据显示,以下是过去24小时内热度最高的20个币种及其行情信息: 1️⃣ **PERP (Perpetual Protocol)** 🔥 热度排名:#1 | 当前价格:$0.35(24H +96.03%) 2️⃣ **SYND (Syndicate)** 🔥 热度排名:#2 | 当前价格:$0.69(24H +91.24%) 3️⃣ **PIRATE (Pirate Nation)** 🔥 热度排名:#3 | 当前价格:$0.66(24H +48.49%) 4️⃣ **ARC (AI Rig Complex)** 🔥 热度排名:#4 | 当前价格:$0.407(24H +34.59%) 5️⃣ **LYN (Everlyn AI)** 🔥 热度排名:#5 | 当前价格:$0.32(24H +23.66%) 6️⃣ **ALICE (MyNeighborAlice)** 🔥 热度排名:#6 | 当前价格:$0.14(24H +11.17%) 7️⃣ **FORM (Four)** 🔥 热度排名:#7 | 当前价格:$0.21(24H +9.91%) 8️⃣ **RAVE (RaveDAO)** 🔥 热度排名:#8 | 当前价格:$0.36(24H +5.45%) 9️⃣ **MIRA (Mira)** 🔥 热度排名:#9 | 当前价格:$0.92(24H +3.91%) 🔟 **ZKP (zkPass)** 🔥 热度排名:#10 | 当前价格:$0.89(24H +3.87%) 1️⃣1️⃣ **TLM (Alien Worlds)** 🔥 热度排名:#11 | 当前价格:$0.16(24H +1.64%) 1️⃣2️⃣ **BTC (Bitcoin)** 🔥 热度排名:#12 | 当前价格:$66347.18(24H -1.94%) 1️⃣3️⃣ **WMTX (World Mobile Token)** 🔥 热度排名:#13 | 当前价格:$0.69(24H -1.17%) 1️⃣4️⃣ **AAVE (Aave)** 🔥 热度排名:#14 | 当前价格:$114.49(24H -1.97%) 1️⃣5️⃣ **AT (APRO)** 🔥 热度排名:#15 | 当前价格:$0.15(24H -2.86%) 1️⃣6️⃣ **LINK (Chainlink)** 🔥 热度排名:#16 | 当前价格:$8.76(24H -3.77%) 1️⃣7️⃣ **WLFI (World Liberty Financial)** 🔥 热度排名:#17 | 当前价格:$0.108(24H -4.97%) 1️⃣8️⃣ **POWER (Power Protocol)** 🔥 热度排名:#18 | 当前价格:$1.78(24H -5.92%) 1️⃣9️⃣ **TON (Toncoin)** 🔥 热度排名:#19 | 当前价格:$1.20(24H -6.99%) 2️⃣0️⃣ **QUQ (Quq)** 🔥 热度排名:#20 | 当前价格:$0.19(24H -0.102%) 📊 本榜单基于 CoinMarketCap 网站热度趋势排行,反映用户在24小时内的关注趋势和搜索动向。 ⚠️ **风险提示**:此消息不作为投资建议,加密货币市场波动剧烈,投资需谨慎评估自身风险承受能力。

2026-03-02 02:55

ARC(AI Rig Complex)24小时上涨36.22%

Gate News Bot 消息,03月02日,据CoinMarketCap行情,截至发稿时,ARC(AI Rig Complex)现报 0.04美元,24 小时内上涨 36.22%,最高触及 0.13美元,最低回落至 0.02美元,24 小时交易量达 1.35亿美元。当前市值约为 4060万美元,较昨日增长 1080万美元。 ## ARC近期重要消息: 1️⃣ **Circle主导的ARC公链生态日趋完善** ARC作为Circle推出的稳定币专用EVM兼容Layer 1区块链,已完成公共测试网上线并吸引了包括BlackRock、Visa和Anthropic等全球头部机构参与其中。该生态的逐步建立和机构参与度提升,为项目赋予了强劲的基本面支撑,体现了市场对该链上生态前景的认可。 2️⃣ **多元应用场景驱动需求增长** ARC平台正在开发包括本地原生代币、跨链外汇结算引擎和多币种稳定币计划等多项功能创新。这些应用场景的拓展预期会进一步增加对ARC代币的使用需求,支撑其未来的生态繁荣度。 3️⃣ **机构级资本参与度显著提升** 除了测试网阶段的大型机构支持外,市场参与者已开始在ARC衍生品上进行规模化交易,近期单个合约产品的月度成交量已达5000万美元级别。这种机构级资本的实际参与表明市场对ARC生态潜力的投资热情正在升温。 此消息不作为投资建议,投资需注意市场波动风险。

Hot Posts su Transocean LTD (RIG)

ser_we_are_early

ser_we_are_early

05-02 23:04
Been diving into Drew Vosk's mining analysis and honestly, the landscape has shifted way more than I expected. So here's what's interesting - the whole GPU mining thing that used to dominate? Pretty much done. Vosk actually came out and said it straight: GPU mining is dead. And the math backs it up. The few graphics cards that still turn a profit are pulling in what, maybe 24 cents daily? Meanwhile you're dropping $600-2000 on hardware. That's just not working anymore. But here's where it gets nuanced. Crypto mining profitable in 2023 was still a real question, and Vosk laid out the actual viable paths forward. CPU mining got a serious look because the performance-to-power ratio is just better. Then there's the mining software angle - something like Evergreen Miner v2 running around $60 monthly, paired with rigs ranging from $299 starter kits up to nearly $3k for the Pro version. He specifically flagged the Starter Kit Pro for Chia mining since it stays quiet and doesn't cook your electricity bill. I found the Helium section pretty telling. Vosk ran 18 hotspot miners and was pulling maybe a dollar per day total. That's rough. Bobcat miners like the Bobber 500 promised something interesting with 5G and LoRaWAN coverage, but the actual returns just weren't there. He lost faith in that whole ecosystem after dealing with Helium and NovaLabs, though he admits 5G mining could theoretically get lucrative if conditions change. Now the ASIC hardware - that's where things get more serious. The Bitmain Antminer K7 sits as the second most profitable option after the KA3. The L7 hits about $10,725 through resellers like CoinMining Central, while the K7 runs around $5,728. Not cheap, but the economics work differently at that scale. Equihash mining for coins like Zcash got mentioned too, though Vosk acknowledges the criticism (people literally call it Z-Trash). The only real option there is the Bitmain Antminer Z15 from 2020, which is already ancient in hardware terms. So is crypto mining still profitable? Vosk's take: if you already own equipment generating a few dollars daily, keep running it. Do the actual math though - electricity costs vary wildly by region. The real move is either building a rig from scratch if you're willing to learn, or if you want to escape grid dependency, solar-powered mining could work, though you're looking at weaker returns. The profitability game isn't dead, but it's definitely not the passive income play most people imagine anymore.
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SelfRugger

SelfRugger

05-02 17:58
Did CNX Resources’ (CNX) New 2034 Notes Offering Quietly Redefine Its Credit Risk Profile? ========================================================================================== Simply Wall St Thu, February 19, 2026 at 3:11 PM GMT+9 3 min read In this article: CNX +0.93% * CNX Resources has recently completed the pricing of US$500,000,000 of 5.875% senior notes due 2034 at par and launched a cash tender offer, plus a conditional redemption, for all of its outstanding 6.000% senior notes due 2029. * This refinancing not only extends CNX’s debt maturity profile but also fine-tunes its capital structure by swapping one set of unsecured senior notes for another with a later due date. * We’ll now examine how replacing the 2029 notes with a new 2034 issue could reshape CNX Resources’ investment narrative and risk profile. The future of work is here. Discover the 34 top robotics and automation stocks leading the charge in AI-driven automation and industrial transformation. CNX Resources Investment Narrative Recap ---------------------------------------- To own CNX Resources, you need to be comfortable with a gas focused, Appalachia concentrated story where disciplined capital allocation and environmental credit upside matter as much as production growth. The new US$500,000,000 5.875% 2034 notes, used to retire the 6.000% 2029 notes, mainly tweak timing and structure of leverage; they do not fundamentally change the near term catalyst around execution on tax credits and environmental attributes, or the key risk from uncertain in basin demand and regulatory outcomes. Among recent updates, CNX’s January 2026 guidance for 2026 production of 605–620 Bcfe is most relevant when viewed alongside this refinancing. A clearer multi year debt runway can support management’s one rig program and capital return priorities while they work through production lulls and Utica appraisal risk. How successfully CNX balances this measured operating profile with its enlarged buyback authorization and environmental credit ambitions will shape how investors view the refinancing over time. But while the refinancing may look straightforward, investors should be aware of how higher regulatory and environmental compliance costs could still... Read the full narrative on CNX Resources (it's free!) CNX Resources’ narrative projects $2.3 billion revenue and $859.1 million earnings by 2028. This requires 8.9% yearly revenue growth and about a $703 million earnings increase from $155.7 million today. Uncover how CNX Resources' forecasts yield a $36.29 fair value, a 10% downside to its current price. Exploring Other Perspectives ---------------------------- CNX 1-Year Stock Price Chart Some analysts were far more optimistic before this refinancing, assuming revenue could reach about US$2.6 billion and earnings US$1.0 billion by 2028, so if you lean toward that view you should also weigh how tighter environmental rules and Appalachian concentration might alter those projections once this new debt structure is fully reflected in updated forecasts. Story Continues Explore 2 other fair value estimates on CNX Resources - why the stock might be worth 10% less than the current price! Reach Your Own Conclusion ------------------------- Don't just follow the ticker - dig into the data and build a conviction that's truly your own. * A great starting point for your CNX Resources research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. * Our free CNX Resources research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate CNX Resources' overall financial health at a glance. Searching For A Fresh Perspective? ---------------------------------- Opportunities like this don't last. These are today's most promising picks. Check them out now: * Explore 24 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. * Invest in the nuclear renaissance through our list of 85 elite nuclear energy infrastructure plays powering the global AI revolution. * Capitalize on the AI infrastructure supercycle with our selection of the 34 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow. _ This article by Simply Wall St is general in nature. **We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.** It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._ _Companies discussed in this article include CNX._ **Have feedback on this article? Concerned about the content? Get in touch with us directly.**_ Alternatively, email [email protected]_ Terms and Privacy Policy Privacy Dashboard More Info
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SelfRugger

SelfRugger

05-02 17:15
This is a paid press release. Contact the press release distributor directly with any inquiries. Full-year results 2025 and strategic update: Strong momentum, accelerating strategic change =========================================================================================== Nestlé S.A. Thu, February 19, 2026 at 3:00 PM GMT+9 34 min read In this article: NSRGF -0.97% NSRGY -0.37% Nestlé S.A. [Ad hoc announcement pursuant to Art. 53 LR] This press release is also available in Français (pdf) and Deutsch (pdf) **Follow today's events live** 09:00 CET Analyst & investor call - video webcast 11:00 CET Media Q&A - audio webcast Full details on our website **Reports published today** Financial Statements 2025 (pdf) Annual Review 2025 (pdf) Corporate Governance Report 2025 (pdf) Non-Financial Statement 2025 (pdf) Creating Shared Value at Nestlé 2025: Our impact (pdf) Other language versions available in Publications ............. **Full-year results 2025 and strategic update: Strong momentum, accelerating strategic change** Philipp Navratil, Nestlé CEO commented: _“I am encouraged by our performance during 2025, which reflects the targeted actions we have taken in a difficult external environment. Real internal growth (RIG) was positive across all Zones and global businesses. We increased our investment in marketing, delivered a __UTOP__ margin of 16.1% and generated __CHF__ 9.2 billion in free cash flow. Improving organic growth, __RIG__ and market share trends in the second half show that our actions are working._ _We are accelerating our strategy. We are focusing our portfolio on four businesses, led by our strongest brands, with prioritized resources and a simplified organization. We are upgrading our marketing and innovation and increasing investment behind high-potential growth platforms, which now have an expanded scope and represent 30% of sales. We are stepping up our efficiencies and strengthening our financial position. This is underpinned by a performance culture that rewards excellence and results. _ _While there is more to be done, we are confident that our faster execution of a more focused strategy will deliver sustained improvement through 2026 and beyond.”_ **Results performance summary** | **In millions of CHF, unless stated** | 2025 | 2024 | Reported change | | --- | --- | --- | --- | | **- _Real internal growth (RIG)_** | _**0.8%**_ | _0.8%_ | | | **_- Pricing_** | _**2.8%**_ | _1.5%_ | | | **Organic growth** | **3.5%** | 2.2% | | | **Net acquisitions/(disposals) ** | **0.1%** | - 0.3% | | | **Foreign exchange movements** | **- 5.7%** | - 3.7% | | | **Reported sales growth** | **- 2.0%** | - 1.8% | | | **Sales** | **89,490** | 91,354 | - 2.0% | | **Underlying trading operating profit** | **14,389** | 15,704 | - 8.4% | | **Gross profit margin** | **45.6%** | 46.7% | - 110 bps | | **Underlying trading operating profit margin** | **16.1%** | 17.2% | - 110 bps | | **Net profit1** | **9,033** | 10,884 | - 17.0% | | **Basic EPS (CHF)** | **3.51** | 4.19 | - 16.3% | | **Underlying EPS (CHF)** | **4.42** | 4.77 | - 7.3% | | **Dividend per share (proposed for 2025)** | **3.10** | 3.05 | 1.6% | | **Free cash flow** | **9,154** | 10,666 | - 14.2% | 1 Profit for the year attributable to shareholders of the parent Story Continues **Accelerating our growth strategy** * **Sharpening the portfolio around four businesses** * Focus on powerhouse global businesses in Coffee, Petcare and Nutrition (together 70% of sales) along with leading regional positions in Food & Snacks. * Integrating Nutrition and Nestlé Health Science into a single business to strengthen our category leadership, and drive synergies and simplification. * Driving focus in Food & Snacks with continued brand rationalization, including advanced negotiations for the sale of our remaining ice cream business to Froneri. * **Prioritizing RIG-led growth** * Expanding the scope of our growth platforms to 30% of sales, delivering high single-digit growth, supported by CHF 0.6 billion of additional investment in 2026. * Upgrading and connecting consumer insights, innovation and marketing capabilities. * **Accelerating our business transformation** * Simplifying organizational structure with enhanced local accountability. * Executing with urgency on cost program, with 20% of targeted CHF 1 billion annual savings in white-collar operational efficiencies already achieved, ahead of plan. * **Driving free cash flow (FCF) and lowering net debt** * Further action to reduce working capital and optimize capex building on H2-25 progress. * Regular review of smaller non-core assets to drive focus and unlock value. * **Building a performance culture** * Fostering a culture where winning is recognized and rewarded, and where teams act as business owners, with no complacency about underperformance. * Incentives adjusted to support RIG delivery and reward execution of strategic priorities. **Financial performance in 20251** * **Broad-based momentum in organic sales growth (OG)** * 2025 OG of 3.5%, with real internal growth (RIG) of 0.8% and pricing of 2.8%. * Targeted growth investments helped drive strong RIG acceleration from 0.2% in H1-25 to 1.4% in H2-25, with improvement across our categories and Zones. * Market share trends improving significantly, with Group volume share now flat; billionaire brands share growth is turning positive – the best performance for more than a decade. * Good momentum maintained into Q4-25 with OG of 4.0%, RIG of 1.3% and pricing of 2.8%. * **Delivering on guidance while increasing investment** * Underlying trading operating profit (UTOP) margin of 16.1%, in line with guidance. * _Fuel for Growth_ cost savings of CHF 1.1 billion, exceeding target for the year by over CHF 350 million, supporting margin delivery despite higher-than-expected headwinds. * Advertising and marketing expenses reached 8.6% of sales, reflecting increased investment and improved efficiency. * Net profit of CHF 9.0 billion, basic earnings per share of CHF 3.51. * Free cash flow of CHF 9.2 billion with strong H2-25 performance; net debt/Adjusted EBITDA 2.85x; proposed dividend per share increased to CHF 3.10. 1 Related to the infant formula recall, 2025 results include the estimated impact of sales returns (CHF (75) million in UTOP) and inventory write-offs (CHF (110) million in other operating expenses). The impact of sales returns on OG and RIG will be recognized in 2026. **Guidance 2026** * OG expected to be in the range of around 3% up to 4%, with RIG accelerating versus 2025, driven by our focused growth plans; this includes the expected impact of sales returns and stock shortages of approximately -20 bps from the infant formula recall; additional impact is uncertain and could drive OG towards the lower end of the range. * UTOP margin expected to improve versus 2025, strengthening in the second half of the year. * Free cash flow expected to be above CHF 9 billion. **Changes to the Executive Board** With the formation of the newly integrated Nutrition business, the Globally Managed Business structure of Nestlé Health Science will be removed. Anna Mohl, CEO of Nestlé Health Science, will step down from the Executive Board on 28 February 2026 and has chosen to pursue opportunities outside Nestlé. The Board of Directors warmly thanks Anna Mohl for her leadership and significant contributions to Nestlé and wishes her every success in her future endeavors. **Follow today's events live** 09:00 CET Analyst & investor call - video webcast 11:00 CET Media Q&A - audio webcast Full details in Events **PDF press releases:** * English (pdf, 500 Kb) * Français (pdf, 500 Kb) * Deutsch (pdf, 500 Kb) **Other reports published today:** * Financial Statements 2025 (pdf, 1 Mb) * Annual Review 2025 (pdf, 13 Mb) * Corporate Governance Report 2025 (pdf, 2 Mb) * Non-Financial Statement 2025 (pdf, 20 Mb) * Creating Shared Value at Nestlé 2025: Our impact (pdf, 20Mb) * Other language versions available in Publications **Contacts:** Media: Christoph Meier  Tel.: +41 21 924 2200 [email protected] Investors: David Hancock Tel.: +41 21 924 3509 [email protected] **Accelerating our growth strategy** Our actions in 2025 have delivered clear results, with growth and market share trends strengthening in the second half. Building on this momentum, our accelerated strategy is centered on five priorities. **1. Winning portfolio** Our portfolio is focused on four businesses: Coffee, Petcare, Nutrition and Food & Snacks. In the first three, we have market-leading positions in truly global categories; these are approximately 70% of sales. Food & Snacks is a more regional business, and we have leading global and local brands. These are all winning businesses: in terms of growth, returns, market positions and performance. They are also a winning combination: leveraging commercial synergies and common capabilities, such as route-to-market scale and science & technology know-how. Together, this gives us a winning portfolio. Our Coffee and Petcare businesses are global powerhouses backed by leading brands: including _Nescafé, Nespresso_ and _Starbucks_ in Coffee, and _Pro Plan, Purina ONE_ and _Friskies_ in Petcare. For these two businesses, it is all about executing on our opportunities. In Nutrition, we are creating a third global powerhouse by integrating our nutrition and Nestlé Health Science units. This will drive focus, simplification and synergies that allow us to accelerate growth. In Food & Snacks, we continue our disciplined portfolio management through targeted brand rationalization. This includes advanced negotiations to sell our remaining ice cream businesses to Froneri. For Nestlé Waters & Premium Beverages, we began the formal engagement process with potential partners in Q1 2026 and expect the business to be deconsolidated from 2027. **2. RIG-led growth** Our portfolio benefits from advantaged exposures, with sales for our categories expected to grow at 3-4% over the coming years. To deliver growth across our portfolio, we are focusing on key trends driving food and beverages; these include affordability for consumers, winning customer channels such as e-commerce and discounters, and health-conscious consumption. Our ambition is to grow faster than our categories, with organic growth of 4%+ over the medium term. We are driving acceleration by investing boldly in high potential growth platforms, expanding their scope to 30% of Group sales (from 10% last year). Growth platforms should deliver high single-digit organic growth, driven by targeted investment plans that capitalize on our competitive strengths in structurally growing areas. Examples include cold coffee, pet therapeutics & supplements, medical nutrition and _KitKat_. Marketing is a critical growth enabler. In recent years, Nestlé lost some of its marketing muscle. We are changing that with best-in-class brand-building as a global standard, prioritizing fewer brands, and modernizing our operating model to improve speed, quality and efficiency. We are also better connecting consumer insights, innovation and marketing to put the consumer at the center. Delivering value for the consumer is the ultimate driver of our business. **3. Transformation and efficiency** To support growth and improve efficiency, we are fundamentally changing how work gets done across Nestlé, simplifying our operating model and clarifying accountabilities. One example is the simplification of our nine end-to-end business processes, such as procure-to-pay and hire-to-retire. While underpinned by consistent IT infrastructure, these processes vary considerably market to market, both the activities and whether the activities take place in shared services. This slows us down and limits the value of our data. We have begun accelerating our use of shared services, allowing us to standardize and automate. This will deliver a simpler, more agile and more productive operating model. In Q4 2025, we announced an acceleration of planned global headcount reductions to c. 16,000 by the end of 2027. This includes c. 12,000 white-collar professionals, driving an increased target for annual operational efficiency savings of CHF 1.0 billion by the end of 2027. We are executing with urgency on this program, with 20% of the targeted savings already achieved, ahead of plan. In conjunction with our procurement savings program, we are on track to deliver total _Fuel for Growth_ cost savings of CHF 3.0 billion by the end of 2027. **4. Cash and capital allocation** Cash is a key focus. Performance is improving because we have enhanced governance and accountability, supported by data. This makes stronger cash generation a repeatable capability. KPIs now give a detailed view of working capital impactors, allowing sharper challenge and faster corrective action. Capex discipline is tightened with rigorous scrutiny of business cases and investment only where it creates returns. Safety and quality remain non‑negotiable. Our capital allocation principles are clear: investment in organic growth, shareholder returns through dividends, and net debt reduction are the highest priorities. During 2025, we received an extraordinary distribution from our Froneri joint venture (JV) and sold our minority stake in Herta, helping to reduce financial leverage and drive focus. We will continuously review smaller non-core assets for opportunities to simplify and unlock value. **5. Performance culture** Culture is defined by how the organization collaborates, sets goals, makes decisions, recognizes impact and develops talent. A strengthened focus on sustainable performance ensures that we create a culture where winning is recognized and rewarded, where teams act as accountable business owners, with no complacency around underperformance. Greater accountability is enabled by changes in our organizational structure. The core principle is about empowering markets to own local execution – and the operating P&L – without ambiguity. Above-market activities are limited to those benefiting from scale and close global coordination. The integrated Nutrition business reflects this approach – it will be run locally through the Zones, with the globally-managed business structure of Nestlé Health Science being removed. Delivery of the Group strategic priorities is supported by evolved metrics for the annual bonus. Organic growth now includes a RIG “gatekeeper”, personal goals are set using common objective KPIs and functional leaders are aligned behind Group performance. A new performance and development framework from 2026 increases transparency and strengthens assessment. **Guidance 2026** Organic growth for 2026 is expected to be in the range of around 3% up to 4%, with RIG accelerating versus 2025, driven by our focused growth plans. This range includes the expected impact of sales returns and stock shortages of approximately -20 bps from the infant formula recall; additional impact is uncertain and could drive OG towards the lower end of the range. UTOP margin is expected to improve versus 2025, strengthening in the second half of the year. Free cash flow is expected to be above CHF 9 billion. **Financial review 2025** **Sales** Total reported sales were CHF 89.5 billion. Organic growth was 3.5%. Pricing contribution was 2.8%, with targeted increases to address input cost inflation in coffee and cocoa-related categories. RIG was 0.8% despite price increases and a challenging macroeconomic environment marked by weakening consumer sentiment. We continued to invest behind our brands and market share trends improved. Foreign exchange had a negative impact of 5.7% as the Swiss franc strengthened significantly during the year. Targeted growth investments helped drive strong RIG acceleration from 0.2% in H1-25 to 1.4% in H2-25, with improvement in every category and Zone. During the year, market share trends also improved significantly. For the Group, the value gap to the market (i.e. the underperformance of Nestlé sales growth versus market sales growth) reduced by 60%, and the volume gap is now flat. Billionaire brands share growth is turning positive, the best performance for more than a decade. By category, confectionery and coffee were the largest organic growth contributors, driven by high single-digit pricing. Our focus in these two categories was on smart pricing action to fully address input cost increases where possible, while maintaining medium-term consumer penetration. In coffee, elasticity effects have been limited, and RIG was slightly positive over the year. In confectionery, short-term elasticities were more pronounced, consistent with historical trends. Outside coffee and confectionery, organic growth was positive across most categories, notably with RIG-led growth in PetCare. By geography, organic growth in developed markets was 2.3%, balanced between RIG of 1.1% and pricing of 1.2%. In emerging markets, organic growth was 5.4%, with pricing of 5.1% and RIG of 0.2%. By channel, organic growth in retail sales was 3.4% and in out-of-home was 5.4%. E-commerce sales grew organically by 13.5%, reaching 20.5% of total Group sales. **Gross profit and operating profit** Gross profit was CHF 40.8 billion. The gross profit margin decreased by 110 bps to 45.6%, driven by the impact of higher coffee and cocoa prices on cost of goods sold, tariffs and foreign exchange effects, which were only partially compensated by price increases and cost savings. Distribution expenses as a percentage of sales were 8.2%, slightly down versus the prior year, driven by the successful implementation of savings initiatives. Marketing and administration expenses as a percentage of sales increased by 20 bps to 20.0%. This was driven by an increase in advertising and marketing expenses as a percentage of sales, up 50 bps to 8.6% as we stepped up growth investments; administration and other marketing expenses as a percentage of sales decreased by 30 bps to 11.4%. Research and development costs as a percentage of sales were flat at 1.8%. Our _Fuel for Growth_ program targeted savings of CHF 0.7 billion in 2025, scaling to CHF 3.0 billion by the end of 2027 following the upsized target announced at 9M-25. In 2025, we delivered savings of CHF 1.1 billion as part of this program, more than CHF 350 million ahead of plan. In addition, we also achieved over CHF 1 billion of savings as part of ongoing efficiencies in 2025, not included under _Fuel for Growth_. Underlying trading operating profit (UTOP) was CHF 14.4 billion, a decrease of 8.4%. UTOP margin was 16.1%, a decrease of 110 bps on a reported basis or 100 bps in constant currency. The year-on-year decline in UTOP margin was primarily driven by the impact of input cost inflation on gross profit margin as well as the increase in advertising and marketing expenses and the impact of tariffs, partly offset by pricing and cost savings initiatives. Restructuring and net other trading items was CHF 1.7 billion compared to CHF 1.1 billion in 2024. The increase was mainly driven by impairments, litigation and the allowance for inventory write-offs due to the infant formula recall. Trading operating profit was CHF 12.7 billion, down 13.4%. Trading operating profit margin was 14.2%, a decrease of 180 bps on a reported basis. | **As % of sales** | 2025 | 2024 | Reported change | Constant currency change | | **Sales** | **100.0%** | **100.0%** | - | | | **Cost of goods sold** | **-54.4%** | -53.3% | - 110 bps | | | **Gross profit margin** | **45.6%** | **46.7%** | **- 110 bps** | | | **Other revenue** | **0.5%** | 0.4% | 10 bps | | | **Distribution expenses** | **- 8.2%** | - 8.3% | 10 bps | | | **Marketing and administration expenses** | **- 20.0%** | - 19.8% | - 20 bps | | | **Research and development costs** | **- 1.8%** | - 1.8% | 0 bps | | | **Underlying trading operating profit margin** | **16.1%** | **17.2%** | **-110 bps** | **-100 bps** | | **Other trading income** | **0.2%** | 0.1% | 10 bps | | | **Other trading expenses** | **-2.1%** | -1.3% | -80 bps | | | **Trading operating profit margin** | **14.2%** | **16.0%** | **-180 bps** | **-170 bps** | | **Other operating income** | **0.3%** | 0.5% | -20 bps | | | **Other operating expenses** | **-0.8%** | -0.4% | -40 bps | | | **Operating profit margin** | **13.7%** | **16.1%** | **-240 bps** | | **Net financial expenses and income tax** Net financial expenses were CHF 1.5 billion in 2025, in line with 2024. The average cost of net debt was 2.6% in both 2025 and 2024. The Group reported tax rate was 24.6%, compared to 25.0% in the prior year. The decrease was due to lower one-off tax charges compared to 2024. The underlying tax rate was 22.1%, compared to 21.9% in the prior year. **Net profit and earnings per share** Net profit decreased by 17.0% to CHF 9.0 billion. Basic earnings per share decreased by 16.3% to CHF 3.51, driven by lower net profit. Underlying net profit was CHF 11.4 billion, a decrease of 8.2%, and a decrease of 2.7% in constant currency. Underlying earnings per share was CHF 4.42, a decrease of 7.3%, and a decrease of 1.8% in constant currency. **Cash flow** Cash generated from operations decreased to CHF 16.9 billion from CHF 19.6 billion in 2024. Free cash flow was CHF 9.2 billion, compared to CHF 10.7 billion in the same period last year, with the decrease primarily due to lower Adjusted EBITDA and a negative contribution from working capital movements, partially offset by lower capex. This FCF performance reflects strong delivery in the second half of the year. FCF in H1 was CHF 2.3 billion, negatively impacted by the effect of input cost inflation on working capital as well as the effect of actions to mitigate tariff impacts. In H2, we delivered CHF 6.8 billion of FCF, helped by actions to improve working capital efficiency and strengthen capex discipline. **Dividend** At the Annual General Meeting on April 16, 2026, the Board of Directors will propose a dividend of CHF 3.10 per share, an increase of 5 centime. Nestlé has maintained or increased the dividend in Swiss francs over the last 66 years, and we remain committed to our dividend practice. **Net debt** Net debt was CHF 51.4 billion as at December 31, 2025, compared to CHF 60.0 billion as at June 30, 2025 and CHF 56.0 as at December 31, 2024. The decrease reflected strong free cash flow generation in the second half of the year, along with a CHF 2.0 billion extraordinary distribution from our Froneri joint venture, and a benefit from foreign exchange movements. **Return on invested capital** Return on invested capital was 12.7%, compared to 14.1% in 2024. This reduction reflects lower operating profit and higher impairments, partially compensated by a lower invested capital base. **Acquisitions and divestures, minority interests and joint ventures** In 2025, we increased our ownership in two companies as follow-ons from earlier acquisitions. In China, we acquired all the outstanding minority interests of confectionery company Hsu Fu Chi, and in Nestlé Health Science we further increased our majority stake in Orgain, a leader in plant-based nutrition, where we had an option as part of the original acquisition structure. In South Korea, we took control of our Purina business from the existing JV structure and integrated it into Nestlé South Korea. During Q4 2025, we disposed of our remaining stake in the Herta JV that was established in 2019. This was part of our regular review of smaller non-core assets for opportunities to simplify and unlock value. **Infant formula recall** In January 2026, Nestlé launched a global precautionary recall of batches of infant formula after detecting the presence of cereulide, caused by an ingredient sourced from a global industry supplier. Full details of the recall and timeline are available at www.nestle.com/ask-nestle. Nestlé maintains high quality standards and safety protocols, which go well beyond Good Manufacturing Practices and current regulations, including for managing cereulide risk in infant formula. The recall removed all batches of products that could potentially contain a level of cereulide ≥0.2 ng/g in infant formula powder. This is more stringent than the action limit for recalls of 0.43 ng/g recently defined by the EU and being implemented across the bloc. Nestlé’s recall is completed and we are now focused on replenishing stocks. Production has resumed at all infant formula factories, using alternative ingredient suppliers and with extensive testing before, during and after production. Our top priorities are quality, product safety and compliance, and all our products on the market are safe. **Operating segment review** | | Total Group | Zone Americas | Zone AOA | Zone Europe | Nestlé Health Science | Nespresso | Nestlé Waters & Premium Beverages | Other businesses | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | **Sales 2025 (CHF m)** | **89,490** | **34,482** | **20,553** | **17,581** | **6,551** | **6,481** | **3,548** | **294** | | **Sales 2024 (CHF m)** | 91,354 | 36,135 | 21,177 | 17,082 | 6,739 | 6,378 | 3,551 | 292 | | **_Real internal growth (RIG)_** | 0.8% | 0.1% | 0.8% | 0.4% | 3.5% | 1.6% | 2.6% | 3.0% | | **_Pricing_** | 2.8% | 2.8% | 2.5% | 3.9% | - 0.3% | 4.4% | 2.7% | 1.3% | | **_Organic growth_** | **3.5%** | **2.8%** | **3.2%** | **4.3%** | **3.2%** | **6.0%** | **5.3%** | **4.3%** | | **Net M&A** | 0.1% | - 0.1% | - 0.4% | 1.2% | - 0.4% | 0.2% | - 0.1% | 0.0% | | **Foreign exchange** | - 5.7% | - 7.3% | - 5.8% | - 2.6% | - 5.6% | - 4.6% | - 5.2% | - 4.3% | | **_Reported sales growth_** | **- 2.0%** | **- 4.6%** | **- 3.0%** | **2.9%** | **- 2.8%** | **1.6%** | **0.0%** | **0.0%** | | **UTOP 2025 (CHF m)** | **14,389** | **7,118** | **4,254** | **2,834** | **1,056** | **1,160** | **322** | **6** | | **UTOP 2024 (CHF m)** | 15,704 | 7,918 | 4,658 | 3,063 | 943 | 1,278 | 323 | -13 | | **UTOP margin 2025** | **16.1%** | **20.6%** | **20.7%** | **16.1%** | **16.1%** | **17.9%** | **9.1%** | **2.2%** | | **UTOP margin 2024** | 17.2% | 21.9% | 22.0% | 17.9% | 14.0% | 20.0% | 9.1% | - 4.3% | | **UTOP_ margin YoY_** | _- 110 bps_ | _- 130 bps_ | _- 130 bps_ | _- 180 bps_ | _210 bps_ | _- 210 bps_ | _Flat_ | _650 bps_ | **Zone Americas** _2025 highlights:_ Zone Americas delivered broad-based OG of 2.8% for the full year, achieving positive RIG despite a challenging macroeconomic environment and cautious consumer sentiment. In North America, growth was driven by RIG, and market share trends continued to improve. In Latin America, growth was driven by pricing in confectionery and coffee as well as continued momentum in out-of-home. _Q4-25 highlights:_ In Q4, the Zone delivered solid, balanced growth of 3.7% OG, 2.4% pricing and 1.3% RIG. North America OG was 2.5%, of which RIG was 2.4%. The sequential improvement in RIG was driven by PetCare, with particular strength in wet cat, as capacity came online after constraints earlier in the year, further supported by customer buy-in ahead of a price increase on 1 January. In Latin America, growth continued to be driven by pricing actions for coffee and confectionery. **Segment performance summary for 2025** * Organic growth was 2.8%, with 0.1% RIG and 2.8% pricing. * Reported sales were down versus the prior year at CHF 34.5 billion, driven by a negative impact of 7.3% from foreign exchange movements. * In North America, OG was 1.0%, with 0.8% RIG and 0.2% pricing. In Latin America, OG was 6.7%, with -1.4% RIG and 8.0% pricing. * By market, growth was seen across almost all regions, led by Brazil and the U.S. * Market share continues to improve, led by gains in North America, particularly in portioned and soluble coffee, coffee enhancers and frozen food. In Latin America, we saw market share losses in confectionery, ambient dairy and soluble coffee. * UTOP margin decreased by 130 bps to 20.6%, driven by input cost inflation, increased consumer investment, and currency and tariff headwinds that more than offset pricing actions and efficiencies. **Key organic sales growth drivers by product category for 2025** * Beverages (including coffee and coffee enhancers) posted high single-digit growth with strong pricing and positive RIG. _Nescafé_ and coffee enhancers were key growth contributors. * Confectionery delivered strong high single-digit growth led by pricing in _Garoto_ (Brazil) and _Tollhouse_ (U.S.). RIG was negative but improved in the second half, helped by actions to manage price elasticities in chocolate and by expansion in chocobakery. * In Nestlé Professional, growth was mid single-digit, driven by broad-based contributions across Latin America. * PetCare growth was solid across the Zone. Growth was led by wet cat food in the U.S., helped by new capacity in Q4 after supply constraints impacted most of the year. The wet cat category continued to be positive, while dog food was softer, impacting mainstream brands and snacks. * Infant Nutrition sales declined for the period, driven by on-going challenges with_ Gerber_ and supply constraints in _Nido_ in the first half of the year. * In frozen food, growth remains negative but trends have improved further, with market share gains in _Stouffer's_ and _DiGiorno._ **Zone Asia, Oceania and Africa** _2025 highlights:_ In Zone AOA, 3.2% OG was broad based across markets with the exception of Greater China. The strongest contribution came from the Central & West Africa Region, South Asia and the Philippines. In Greater China, sales declined in a deflationary market as we correct trade inventory and redefine our operating model. By category, growth in Zone AOA reflected strengthening performance in coffee and food in the second half of the year, together with RIG-led growth in confectionery. _Q4-25 highlights:_ OG was 4.6%, with 2.6% pricing and 2.0% RIG. In Zone AOA excluding Greater China, OG reached 8.6%, continuing the trend of sequential improvement seen during the first nine months; Q4 RIG of 5.5% is the strongest since 2020, even excluding the positive impact of Ramadan timing. In Greater China, Q4 OG was - 7.0%, improving compared to the previous two quarters due to the lower impact of trade inventory correction. **Segment performance summary for 2025** * Organic growth was 3.2%, with 0.8% RIG and 2.5% pricing. * Reported sales were down versus the prior year at CHF 20.6 billion, due to the negative impact of 5.8% from foreign exchange movements. * In Zone AOA excluding Greater China, organic growth was 6.1%, with 2.3% RIG and 3.8% pricing. In Greater China, organic growth was - 6.4%, with - 4.5% RIG and - 1.9% pricing. * Market share gains were achieved in confectionery, cocoa malt beverages and PetCare, while soluble coffee and ambient culinary showed ongoing improvement. * UTOP margin decreased by 130 basis points to 20.7%, mainly reflecting higher cost of goods sold, driven by commodity inflation in coffee and cocoa as well as increased investment to strengthen competitiveness in the trade and in brand building. **Key organic sales growth drivers by product category for 2025** * Coffee posted mid single-digit growth, driven by pricing. The largest growth contributor was _Nescafé_ soluble, with continued strong momentum behind cold coffee via _Nescafé_ Espresso Concentrate and ready-to-drink coffee. * Confectionery grew at a high single-digit pace, driven by _KitKat_, with overall market share gains and positive growth in most markets. 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_, led by cooking aids and noodles. * Nestlé Professional achieved mid single-digit growth across geographies and categories, led by dairy and coffee. * Infant Nutrition and dairy growth was low single digit, led by double-digit growth in both _Milo_ and _NAN_ across most geographies, partly offset by _illuma._ * PetCare growth was negative, driven by inventory corrections in Greater China and category softness in developed markets; other emerging markets delivered strong double-digit growth, supported by increased strategic investment. **Zone Europe** _2025 highlights:_ In Zone Europe, OG was 4.3%, with RIG of 0.4%. Growth was broad based across most categories and markets, driven by coffee and confectionery, with targeted pricing to address input cost inflation, and by RIG-led growth in PetCare. Market share trends were positive across most categories. Overall, the environment remains competitive, with a strong focus on providing value for consumers, especially among retailers in some markets. _Q4-25 highlights:_ In Q4, OG was 4.4%, with 4.2% pricing and 0.2% RIG. OG was driven by coffee and confectionery. In coffee, OG was high single digits, moderating from Q3-25 against a more difficult comparison base. In confectionery, OG and RIG continued to strengthen, driven by reduced consumer elasticity effects. PetCare continued to perform well, with mid to high single-digit RIG across most major markets, while food remained challenging. By market, growth was solid across the majority of larger markets, with continued strengthening of OG and RIG in UK & Ireland and France, and an improvement in Germany. **Segment performance summary for 2025** * Organic growth was 4.3%, with 0.4% RIG and 3.9% pricing. * Reported sales were up versus the prior year at CHF 17.6 billion, including a negative impact of 2.6% from foreign exchange movements. * Growth was positive across most markets and categories, with the strongest contributions from Türkiye, Iberia, France and South & Eastern Europe. * Market share trends were positive, with gains in PetCare and improved trends across most other categories. * UTOP margin decreased by 180 bps to 16.1%, as a result of a lower gross profit margin, with operational efficiencies being reinvested in growth through a step-up in advertising and marketing spend. **Key organic sales growth drivers by product category for 2025** * Coffee posted high single-digit growth, led by pricing, with RIG impacted by consumer elasticity effects. The largest growth contributor was _Nescafé_ soluble coffee. * Confectionery posted high single-digit growth, driven by pricing, with negative RIG reflecting elasticity effects. _KitKat_ and _Dessert_ both delivered double-digit growth. * PetCare delivered mid single-digit growth. Growth was RIG-led and broad based across markets, led by _Felix, Pro Plan, Gourmet_ and _Purina 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. **Nestlé Health Science** _2025 highlights:_ Nestlé Health Science delivered RIG-led growth for the year, driven by enhanced execution focus and portfolio optimization. Growth was broad-based across our three segments with strong performance in _Orgain_ and _Pure Encapsulations._ _Q4-25 highlights:_ In Q4, growth was low single-digit driven by Medical Nutrition and strong consumption trends in _Orgain_ and _Pure Encapsulations._ This was partially offset by softness in _Garden of Life_ and the discontinuation of some private label Vitamins, Minerals and Supplements (VMS). We have concluded the strategic review of our mainstream and value brands in VMS and are moving ahead with the process to engage with potential buyers for these parts of the business. **Segment performance summary for 2025** * Organic growth was 3.2%, with 3.5% RIG and - 0.3% pricing. * Reported sales decreased by 2.8% to CHF 6.6 billion, driven by a negative foreign exchange impact of 5.6%. * Market share losses showed an improved trend across all regions, particularly within the VMS and Active Nutrition segments. * UTOP margin increased by 210 bps to 16.1%, driven by a reduction in structural costs and improved gross profit margin. **Key organic sales growth drivers by product category for 2025** * By geography, North America grew low single-digit, while Europe and other regions delivered mid single-digit growth. * VMS reported positive growth, driven by premium brands _Pure Encapsulations_ and _Solgar_. This 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, which was driven by RIG-led momentum from innovation and distributions gains in _Orgain_ and partially offset by _Vital Proteins._ * Medical Nutrition delivered mid single-digit growth across all segments, with strong contributions from _Resource_ and _Compleat._ **Nespresso** _2025 highlights:_ Nespresso delivered OG of 6.0%, led by pricing and supported by positive RIG. North America remained the key growth driver, with double-digit growth, strong consumer acquisition and continued market share gains, supported by increased investments. In Western Europe, market conditions remained challenging. _Q4-25 highlights:_ In Q4, OG was 4.2%, with -0.6% RIG and 4.8% pricing. Growth was driven by the U.S., with continued double-digit OG led by RIG, albeit slowing compared to a very strong Q3. In Europe, the environment remains competitive, with broadly flat OG reflecting some price elasticity and the negative effect of some customer order phasing. **Segment performance summary for 2025** * Organic growth was 6.0%, with 1.6% RIG and 4.4% pricing. * Reported sales were up versus the prior year at CHF 6.5 billion, despite a negative foreign exchange impact of 4.6%. * Market share gains in North America continued to build strong momentum. In Europe, share remained under pressure across key markets due to competitive intensity. * UTOP margin declined by 210 bps to 17.9%, reflecting higher cost of goods sold in H2, driven by inflation in coffee, tariffs as well as a marked increase in marketing investment to support growth. **Key organic sales growth drivers for 2025** * By geography, North America delivered strong double-digit growth, led by RIG and fueled by successful brand campaigns, celebrity collaborations as well as impactful innovations. In Europe growth was positive and led by pricing. * By system, growth was driven by _Vertuo_. Out-of-home grew mid single-digits, led by strong hotels, restaurants and cafés (horeca) momentum and increased machine placements. * Digital transformation remained a key enabler. Deployment of the Nespresso mobile app contributed to increasing basket value and purchase frequency, _Starbucks_ direct-to-consumer received strong reception, while e-retail and marketplaces were key growth drivers of business to consumer channel. **Nestlé Waters & Premium Beverages** _2025 highlights:_ In Nestlé Waters & Premium Beverages, OG was 5.3%, with RIG of 2.6% and pricing of 2.7%. Performance was broad based across geographies, brands and sales channels. Growth was driven by _Maison Perrier_ and _Sanpellegrino_ as well as out-of-home channels. _Q4-25 highlights:_ In Q4, OG was 8.3%, with 4.5% RIG and 3.8% pricing. Q4-25 marked the fourth quarter of positive RIG and the strongest quarter of the year. Performance was broad based, helped by a softer comparison base, with particular strength in Americas and in premium beverages, led by _Maison Perrier_ and _Sanpellegrino._ We are moving ahead with the partial disposal of the business, and we have started engaging with potential partners. **Segment performance summary for 2025** * Organic growth was 5.3%, with 2.6% RIG and 2.7% pricing. * Reported sales was up compared to prior year at CHF 3.5 billion, despite the negative impact from foreign exchange of 5.2%. * Market share gains continued in _S.Pellegrino_ and _Perrier_. * UTOP margin was unchanged compared to prior year at 9.1%, as increased investment behind premium beverages brands was offset by operational cost savings. **Key organic sales growth drivers for 2025** * By geography, Americas posted high single-digit growth, AOA and Europe delivered mid single-digit growth. * Premium beverages continued to outperform with strong double-digit growth, driven by the international expansion of _Maison Perrier_, which is now present in 80 markets, and the rollout of _Sanpellegrino_ innovations in CIAO! and Zero ranges. * Within waters, we saw solid growth from our international premium brands including _Maison Perrier, S.Pellegrino_ and _Acqua Panna_, partly offset by a weaker performance from _Perrier_ reflecting continued supply constraints. **Category performance** | | Total Group | Powdered & Liquid Beverages | Water | Milk products & Ice cream | Nutrition & Health Science | Prepared dishes & cooking aids | Confec-tionery | PetCare | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | **Sales 2025 (CHF m)** | **89,490** | **25,144** | **3,128** | **9,698** | **14,304** | **10,114** | **8,696** | **18,406** | | **Sales 2024 (CHF m)** | 91,354 | 24,598 | 3,180 | 10,397 | 15,137 | 10,711 | 8,449 | 18,882 | | **Real internal growth (RIG)** | 0.8% | 0.7% | 1.0% | 0.8% | 0.1% | - 0.2% | - 0.7% | 2.6% | | **Pricing** | 2.8% | 6.6% | 2.9% | 0.5% | 0.5% | - 0.1% | 8.8% | - 0.4% | | **Organic growth** | **3.5%** | **7.3%** | **3.9%** | **1.3%** | **0.6%** | **- 0.4%** | **8.2%** | **2.2%** | | **UTOP 2025 (CHF m)** | **14,389** | **4,324** | **288** | **2,229** | **2,825** | **1,977** | **1,107** | **4,000** | | **UTOP 2024 (CHF m)** | 15,704 | 4,920 | 279 | 2,442 | 3,006 | 2,137 | 1,299 | 4,087 | | **UTOP Margin 2025** | **16.1%** | **17.2%** | **9.2%** | **23.0%** | **19.7%** | **19.5%** | **12.7%** | **21.7%** | | **UTOP Margin 2024** | 17.2% | 20.0% | 8.8% | 23.5% | 19.9% | 19.9% | 15.4% | 21.6% | * **Powdered and Liquid Beverages** was the largest category growth contributor, with 7.3% organic growth, led by pricing, as we took actions to address input cost inflation in coffee. _Nescafé_ and _Nespresso_ were the leading contributors of growth. RIG remained positive, with only limited elasticity observed following the price increases. * **Confectionery** organic growth of 8.2% was driven by pricing and led by _KitKat_. Negative RIG reflects short-term volume softness resulting from price-driven elasticity. * **PetCare** delivered 2.2% organic growth, helped by improved performance in the fourth quarter of the year. Growth was led by wet and dry cat, partly offset by weakness in dry dog. Market share grew globally, driven by Europe. * **Milk products and Ice cream **posted 1.3% organic growth, led by solid performance from dairy culinary brands, _Nestlé_ and _La Lechera._ * **Water **delivered organic growth of 3.9%, led by good performance from _Maison Perrier_ and _S.Pellegrino._ * **Nutrition and Health Science **recorded organic growth of 0.6%, driven by strong performance from _NAN_ and _Orgain_, partially offset by weakness in _Gerber_ and _illuma._ * **Prepared dishes and cooking aids** reported slightly negative organic growth of -0.4%, driven by category weakness in U.S. Frozen Foods and partly offset by growth in _Maggi._ **Annex** **Fourth-quarter performance** | | Total Group | Zone Americas | Zone AOA | Zone Europe | Nestlé Health Science | Nespresso | Nestlé Waters & Premium Beverages | Other businesses | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | **Sales Q4-2025 (CHF m)** | **23,621** | **9,188** | **5,290** | **4,796** | **1,702** | **1,775** | **795** | **75** | | **Sales Q4-2024 (CHF m)** | 24,206 | 9,568 | 5,536 | 4,626 | 1,824 | 1,792 | 786 | 74 | | **Real internal growth (RIG)** | 1.3% | 1.3% | 2.0% | 0.2% | 1.9% | - 0.6% | 4.5% | 5.4% | | **Pricing** | 2.8% | 2.4% | 2.6% | 4.2% | - 0.4% | 4.8% | 3.8% | 0.4% | | **Organic growth** | **4.0%** | **3.7%** | **4.6%** | **4.4%** | **1.5%** | **4.2%** | **8.3%** | **5.8%** | | | Total Group | Powdered & Liquid Beverages | Water | Milk products & Ice cream | Nutrition & Health Science | Prepared dishes & cooking aids | Confec-tionery | PetCare | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | **Sales Q4-2025 (CHF m)** | **23,621** | **6,701** | **697** | **2,523** | **3,586** | **2,669** | **2,622** | **4,823** | | **Sales Q4-2024 (CHF m)** | 24,206 | 6,646 | 706 | 2,749 | 3,824 | 2,885 | 2,529 | 4,867 | | **Real internal growth (RIG)** | 1.3% | - 0.6% | 2.1% | 0.7% | - 0.1% | 0.9% | 1.4% | 5.4% | | **Pricing** | 2.8% | 7.4% | 3.9% | - 0.9% | 0.8% | - 1.2% | 7.0% | - 0.1% | | **Organic growth** | **4.0%** | **6.8%** | **6.0%** | **- 0.1%** | **0.7%** | **- 0.3%** | **8.4%** | **5.3%** | Terms and Privacy Policy Privacy Dashboard More Info
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