Lower-than-expected net profit for 2023

  • JDE Peet’s expects stronger sales growth in the year ahead
  • Lower-than-expected net profit for 2023
  • Organic sales growth of 3.9%
  • Guidance for organic growth at the top end of 3% to 5% range
  • Net profit for 2023 of EUR281 million
  • Adjusted EBIT of EUR1.13 billion
  • Guidance for mid-single digit organic adjusted EBIT growth in 2024
  • Dividend declared at EUR0.70 per share

JDE Peet’s, the Dutch coffee company, expects stronger sales growth in the year ahead despite reporting a lower-than-expected net profit for 2023. The company reported sales of 8.19 billion euros for the year, representing organic sales growth of 3.9%. This is slightly below the company’s guidance of 3% to 5% organic growth, but it expects organic growth to come in toward the top end of this range for the year ahead. The net profit for 2023 was EUR281 million, missing consensus expectations of EUR563 million. Adjusted earnings before interest and taxes were EUR1.13 billion, slightly below expectations. Looking ahead to 2024, JDE Peet’s expects mid-single digit organic adjusted EBIT growth, with lower growth in the first half offset by a better second half. The company declared a dividend of EUR0.70 per share and plans to keep payouts stable.

Factuality Level: 8
Factuality Justification: The article provides specific details about JDE Peet’s financial performance, including sales figures, net profit, and growth expectations. The information is presented in a straightforward manner without any obvious bias or sensationalism. The article also includes quotes from the company’s Chief Executive, adding credibility to the report.
Noise Level: 3
Noise Justification: The article provides relevant information about JDE Peet’s financial performance, including sales growth, net profit, and future expectations. It stays on topic and does not contain irrelevant or misleading information. The article supports its claims with data and examples from the company’s financial report. However, it lacks in-depth analysis, accountability of powerful people, or exploration of consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the coffee industry and the Amsterdam-listed group JDE Peet’s.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article does not mention any extreme events or their impact.
Public Companies: JDE Peet’s (N/A)
Key People: Fabien Simon (Chief Executive)

Reported publicly: www.marketwatch.com