JDE Peet's N.V.

JDEP

Equity

ISIN NL0014332678 / Valor 55007591

Euronext - Euronext Amsterdam (2024-11-21)

EUR 18.37+0.44%

JDE Peet's N.V.
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About company

JDE Peet's N.V. is a leading coffee and tea company operating in over 100 markets worldwide, offering a diverse portfolio of more than 50 brands including well-known names like L’OR, Peet’s, Jacobs, and Douwe Egberts. The company is focused on unleashing the possibilities of coffee and tea, serving approximately 4,100 cups of coffee or tea per second. JDE Peet's is dedicated to providing high-quality products to consumers across the globe, covering the entire category landscape in both developed and emerging markets.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

JDE Peet's N.V. reported a 5.6% increase in total sales for the first half of 2024, reaching EUR 4,210 million. This growth was driven by a 3.6% organic increase, which included a 2.4% price effect and a 1.2% volume/mix effect. The company's In-Home sales grew organically by 3.4%, while Away-from-Home sales saw a 4.2% organic increase.

Profitability

JDE Peet's N.V. achieved a significant increase in profitability, with adjusted EBIT growing organically by 17.5% to EUR 692 million. This was supported by a 9.0% organic increase in adjusted gross profit and disciplined cost control. The company's operating profit more than doubled to EUR 672 million, partly due to EUR 238 million lower adjusting items compared to the previous year.

Net Profit

The profit for the period surged by 86.5% to EUR 360 million. However, the underlying profit, which excludes all adjusting items net of tax, decreased by 10.0% to EUR 370 million. This decline was mainly due to an unfavorable non-cash, non-tax deductible impact of EUR 113 million from a fair value change in the company's equity derivatives.

Free Cash Flow

JDE Peet's N.V. generated a free cash flow of EUR 315 million in the first half of 2024. Despite an increase in net debt by EUR 890 million to EUR 4,780 million, driven by transaction considerations related to Maratá and Caribou, the company's liquidity position remains strong with total liquidity of EUR 2.7 billion.

Outlook for 2024

Given the strong performance in the first half of 2024, JDE Peet's N.V. has raised its full-year outlook. The company now expects organic sales growth at the higher end of its medium-term range of 3-5%, organic adjusted EBIT growth of around 10%, and free cash flow of at least EUR 850 million. Additionally, the company aims to reduce its net leverage to below 3x within 12 months after closing the Maratá and Caribou transactions.

Summarized from source with an LLMView Source

Key figures

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Performance

29.8%1Y

25.6%3Y

24.8%5Y

Volatility