Quick Take — Mondelez grows despite consumer crisis

Mondelez is a large American corporation based in Chicago

  • its business is particularly focused on snacks
  • owns and operates a number of brands globally such as
    • Toblerone🍫
    • Halls💨
    • Tuc🍞

It is listed on the Nasdaq and has a capitalisation of $92bn. Yesterday the company reported its quarterly

  • saw like-for-like revenues (i.e. excluding acquisitions) up 5.4% compared to the same quarter in 2023
  • there was an increase in prices, but also in sales volumes (it would be interesting to know the volume or sales growth figures net of inflation)

On 2024 the company confirms its indication of sales growth in the 3-5% range. The share price has gained about 25% this year. On consumption read here

Quick Take — COP 16: Pharma and agritech groups against biodiversity tax at UN summit

Negotiators are discussing an agreement at the ongoing COP16 UN biodiversity summit in Colombia on payment for the use of data known as digital sequence information (DSI), which is heavily used by manufacturers of drugs and agricultural products. Companies ranging from AstraZeneca and GSK to Bayer access the information mostly for free, but nations agreed at the last COP15 summit to set up a multilateral fund for ‘benefit sharing’ from its use. The most controversial option, put forward by a group of African nations, would impose a levy of 1% of the retail value of all products made with ISD. The German pharmaceutical and agricultural conglomerate Bayer has argued that the additional cost to companies could translate into higher prices for food and other products