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Nestle Nestle Document Transcript

  • Nestlé SA Company Profile Publication Date: 24 Jun 2011www.datamonitor.comEurope, Middle East & Africa Americas Asia Pacific119 Farringdon Road 245 5th Avenue Level 46London 4th Floor 2 Park StreetEC1R 3DA New York, NY 10016 Sydney, NSW 2000United Kingdom USA Australiat: +44 20 7551 9000 t: +1 212 686 7400 t: +61 2 8705 6900f: +44 20 7551 9090 f: +1 212 686 2626 f: +61 2 8088 7405e: euroinfo@datamonitor.com e: usinfo@datamonitor.com e: apinfo@datamonitor.com
  • Nestlé SAABOUT DATAMONITORDatamonitor is a leading business information company specializing in industry analysis.Through its proprietary databases and wealth of expertise, Datamonitor provides clients with unbiasedexpert analysis and in depth forecasts for six industry sectors: Healthcare, Technology, Automotive,Energy, Consumer Markets, and Financial Services.The company also advises clients on the impact that new technology and eCommerce will have ontheir businesses. Datamonitor maintains its headquarters in London, and regional offices in NewYork, Frankfurt, and Hong Kong. The company serves the worlds largest 5000 companies.Datamonitors premium reports are based on primary research with industry panels and consumers.We gather information on market segmentation, market growth and pricing, competitors and products.Our experts then interpret this data to produce detailed forecasts and actionable recommendations,helping you create new business opportunities and ideas.Our series of company, industry and country profiles complements our premium products, providingtop-level information on 10,000 companies, 2,500 industries and 50 countries. While they do notcontain the highly detailed breakdowns found in premium reports, profiles give you the most importantqualitative and quantitative summary information you need - including predictions and forecasts.All Rights Reserved.No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic,mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, Datamonitor plc.The facts of this profile are believed to be correct at the time of publication but cannot be guaranteed. Please note that thefindings, conclusions and recommendations that Datamonitor delivers will be based on information gathered in good faithfrom both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such Datamonitorcan accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.Nestlé SA Page 2© Datamonitor
  • Nestlé SATABLE OF CONTENTSTABLE OF CONTENTSCompany Overview..............................................................................................4Key Facts...............................................................................................................4Business Description...........................................................................................5History...................................................................................................................7Key Employees...................................................................................................12Key Employee Biographies................................................................................14Major Products and Services............................................................................23Revenue Analysis...............................................................................................25SWOT Analysis...................................................................................................27Top Competitors.................................................................................................33Company View.....................................................................................................34Locations and Subsidiaries...............................................................................38Nestlé SA Page 3© Datamonitor
  • Nestlé SACompany OverviewCOMPANY OVERVIEWNestle (or ‘the company’) is the largest food and beverage company in the world. The companysproducts include beverages, milk based products, ice creams, prepared dishes, and pharmaceuticalproducts. Its key brands include Nestle, Nespresso, Maggi, Buitoni, Stouffers, Dreyers, KitKat,Purina and Friskies among others. Nestle primarily operates in Europe, the Americas, Asia, Oceaniaand Africa. The company is headquartered in Vevey, Switzerland and employs about 281,000 people.The company recorded revenues of CHF109,722 million ($105,311.2 million) during the financialyear ended December 2010 (FY2010), an increase of 2% over 2009. The operating profit of thecompany was CHF16,194 million ($15,543 million) in FY2010, an increase of 3.2% over 2009. Thenet profit was CHF34,233 million ($32,856.8 million) in FY2010, compared to CHF10,428 million($10,008.8 million) in 2009.KEY FACTSHead Office Nestlé SA Avenue Nestle 55 1800 Vevey CHEPhone 41 21 924 2111FaxWeb Address http://www.nestle.comRevenue / turnover 109,722.0(CHF Mn)Financial Year End DecemberEmployees 281,000Six Swiss Exchange NESNTickerNestlé SA Page 4© Datamonitor
  • Nestlé SABusiness DescriptionBUSINESS DESCRIPTIONNestle (or ‘the company’) is the largest food and beverage company in the world. The companysproducts include beverages, milk based products, ice creams, prepared dishes, and pharmaceuticalproducts. Nestle operates in Europe, the Americas, Asia and Africa.Nestles primary operating segments are divided into three geographic zones and four globallymanaged businesses.The three geographic zones are Zone Americas, Zone Europe, and Zone Asia, Oceania and Africa.Zone Americas comprises of the operations in the US, Canada, Latin America and Caribbean regions.Zone Europe includes the company’s operations in Central, Western, and Eastern Europe. ZoneAsia, Oceania and Africa include the company’s businesses across Asia-Pacific, Africa, and MiddleEast.The company’s major product divisions in these regions includes powdered and liquid beverages,milk products and ice cream, prepared dishes and cooking aids, confectionery, and pet care products.Apart from these geographic divisions, the companys four globally managed businesses includeNestle Waters, Nestle Nutrition, other food and beverages, and pharmaceutical products.The Nestle Waters division produces and markets bottled water under Pure Life, Aquarel, AcquaPanna, Vittel, and Vera brand names among others. The division operates nearly 100 productionsites in 36 countries and offers a portfolio of 64 bottled water brands.The Nestle nutrition business comprises four sub-business divisions: infant nutrition, healthcarenutrition, performance nutrition, and weight management. The key products in the infant sub divisioninclude cereals, meals and drinks for babies and infants, which the company markets under Nestle,Nestum, Mucilon, Cerelac, and Gerber brand names. The healthcare sub division primarily offersnutritionally enriched food products and drinks under Nutren, Clinutren, Boost, Peptamen andModulen brand names. The performance nutrition division provides sports nutrition products underPowerBar and Musashi brand names. Jenny Craig is a weight management company offeringconsumers a range of branded nutritional products and services in the US, Canada, Australia andNew Zealand.Other food and beverages division primarily includes Nestle Professional, Nespresso and food andbeverages joint ventures managed on a worldwide basis. Nestle Professional is a globally managedbusiness offering Nestle’s branded products in international market.The pharmaceutical products division of Nestle includes the joint-ventures with pharmaceutical andcosmetic companies such as LOreal, Galderma and Laboratories Inneov. Nestle also operatesthrough nine divisions that are organized along product groups. These include: powdered and liquidbeverages; milk products and ice cream, prepared dishes and cooking aids, pet care, confectionary,nutrition, water, Alcon, and health and beauty joint ventures.Nestlé SA Page 5© Datamonitor
  • Nestlé SABusiness DescriptionThe key products in the powdered and liquid beverages division include coffee, chocolate-basedand malted drinks, bottled water, and fruit juices. Its key coffee product brands include Nescafe andNespresso. Nescafe, the flagship soluble coffee product of this division, is one of the leading brandsin the world. The companys coffee range also includes Nespresso (espresso coffee in capsules).Nestle also produces chocolate-based and malted drinks. Its leading brands include Nesquik andMilo. Nestle also produces fruit juices under the brand names Juicy Juice (formerly known as Libbys)and iced tea under Nestea brand name.The milk products and ice cream division offers diary-based products. The milk products divisionproduces powdered milk, yoghurts and desserts among others. Its popular brands includeCoffee-Mate, Nido, Carnation, and La Laitiere. The ice cream business division offers products suchas ice cream tubs, waffle cones, and ice cream bars. The company key brands in this segmentinclude Haagen-Dazs, Movenpick, Extreme, and Dreyers.The prepared dishes and cooking aids division includes frozen and chilled, culinary and otherbusinesses. Its popular brands include Buitoni, pasta and sauce ingredients; Herta, packaged meals;Hot Packets, frozen sandwiches; Lean Cuisine, low-fat packaged meals; Maggi, noodles, soups andseasonings products; Stouffers, frozen entrees and side dishes; and Thomy branded mayonnaise,mustard, dressings, sauces, oils, and spreads. This division also includes the breakfast cerealsbusiness of Nestle that produces cereal and performance bars and cereals catering to a wide rangeof age groups. The major brands include Chocapic, Cini Minis, Cookie Crisp, and Fitness.The pet care products division offers food products for cats and dogs. The company offers theseproducts under Purina, Friskies, Fancy Feast, Alpo, Gourmet, Felix, Dog Chow, Cat Chow, Pro Plan,and Purina One brand names.The confectionery division primarily offers chocolates and chocolate based candies. The segmentsproducts are offered under Aero, Butterfinger, Cailler, Crunch, Kit Kat, Orion, and Smarties brandnames.Nutrition based products includes cereals, meals and drinks for babies and infants; nutritionallyenriched food products and drinks; and sports nutrition products. In addition, the company also offersweight management programs under Jenny Craig brand name.Nestle Pure Life, under the Nestle Waters segment, is the biggest water brand in the world.*Alcon develops, manufacture and markets ophthalmic pharmaceuticals, ophthalmic surgicalequipment and devices, contact lenses, contact lens care products and other eye care products.Health and beauty joint ventures include the joint-ventures with pharmaceutical and cosmeticcompanies.*Nestle disposed Alcon in August 2010.Nestlé SA Page 6© Datamonitor
  • Nestlé SAHistoryHISTORYNestle (or ‘the company’) was established in 1866, by a pharmacist, Henri Nestle, as a producer offood for babies who were unable to be breastfed. The first product from Nestle was called FarineLactee Henri Nestle. With infant milk forming the backbone of its expansion abroad, the companywas operating factories in the US, the UK, Germany and Spain in early 1900s. In 1905, Nestlemerged with the Anglo-Swiss Condensed Milk Company and was known as Nestle and Anglo-SwissMilk Company. In 1907, the company began manufacturing in Australia, and warehouses were builtin Singapore, Hong Kong and India to supply rapidly growing Asian markets.In the 1920s, Nestle expanded its horizon beyond its traditional product line. The manufacture ofchocolate became the companys second most important activity. New products were launched likemalted milk, a powdered beverage called Milo, powdered buttermilk for infants. In 1938, Nestleintroduced its first instant coffee, Nescafe, followed by Nestea in the 1940s. The close of World WarII marked the beginning of the most dynamic phase of Nestles history. During this period, Nestlesgrowth was based on its policy of diversifying within the food sector to meet the needs of consumers.In 1947, Nestle merged with Alimentana, the manufacturer of Maggi seasonings and soups, therebybecoming Nestle Alimentana Company. The acquisition of Crosse & Blackwell, a UK manufacturerof preserves and canned foods, followed in 1950, as did the purchase of Findus frozen foods (1963),Libbys fruit juices (1971) and Stouffers frozen foods (1973). The development of freeze-drying ledto the introduction of Tasters Choice instant coffee, in 1966.Nestle diversified for the first time outside the food industry in 1974 and became a major shareholderin LOreal, a cosmetics manufacturer. In the late 1970s, Nestle started its second venture outsidethe food industry by acquiring Alcon Laboratories, a US manufacturer of pharmaceutical andophthalmic products. In 1977, a consumer boycott of Nestles products was launched in the US byInfant Formula Action Coalition due to concerns over Nestles marketing of breast milk substitutes.The boycott eventually spread to 20 countries in Europe, North America and South America. Between1980 and 1984, the company underwent a process of reorganization wherein it divested a numberof non-strategic or unprofitable businesses. In 1985, Nestle acquired American food giant, Carnation.Nestle formed a joint venture with The Coca-Cola Company (TCCC) called Coca-Cola and NestleRefreshments (CCNR) in 1991. As trade barriers crumbled in the first half of the 1990s, Nestle wasset for a new round of consolidation. Beginning in 1997, the company acquired the Italian mineralwater concern, San Pellegrino, followed by Spillers Pet foods of the UK in 1998. The decision todivest the Findus frozen food brand was made in 1999. In 2002, Nestle completed the acquisitionof the American pet food producer, Ralston Purina. The company was later renamed as NestlePurina Petcare.In the same year, Nestle sold its subsidiary, Food Ingredients Specialties to Givaudan to concentrateon its consumer businesses. Further in 2002, the European Union approved Nestles takeover ofSchoeller Holding Group, enhancing the companys ice cream portfolio with interests in Germanyas well as North and Central Europe. Later in 2002, Nestle Italiana agreed to sell its Sasso brandNestlé SA Page 7© Datamonitor
  • Nestlé SAHistoryto Minerva Agricola Alimentare. The company also formed Life Ventures, a venture capital fund, in2002 to provide access to new science and technology relating to food and nutrition.Nestle signed an agreement with the Movenpick Group, in early 2003, to acquire the Movenpickbrand for ice cream products and related ice cream businesses worldwide with the exception of theNew Zealand manufacturing operations. During the same year, Nestle further expanded its ice-creambusiness with the merger of its US ice cream business with Dreyers and obtaining ownership of67% of the new entity. The deal took over a year to gain FTC approval, and saw Nestle agree todispose of the Dreamery, Godiva and Whole Fruit sorbet brands and some distribution assets.In 2004, Nestle launched a global center for culinary research in Singen, Germany. The NestleProduct Technology Center (PTC) at Singen involved an investment of CHF34.5 million. In the sameyear, Nestles 49% owned subsidiary, Gesparel, merged with LOreal, in which it was a majorshareholder. As a result of the merger, Nestles stake in Gesparel was converted to a 26.4% directholding in LOreal.Nestle and Cargill signed an agreement wherein Nestle agreed to sell its cocoa bean processingactivities in York, the UK and in Hamburg, Germany to Cargill in 2004. The company later announcedthat it had reached an agreement with German Equity Partners II (GEP) for the sale of the Eismann(a home delivery subsidiary of Nestle with operations in Germany, Italy, France, Spain, Switzerland,the Netherlands, Belgium and Austria) to an investor group led by GEP. Nestle and Coca Cola alsoannounced the creation of a 50/50 joint venture in Indonesia called Water Partners Bottling (WPB).WPB in turn acquired a 65% share of PT AdeS Alfindo Putrasetia (AAPS), a bottled water companyin Indonesia. In late 2004, Nestle Deutschland acquired a 49% stake in Wagner Tiefkuhlprodukte,a German frozen pizza company with a 33% market share.In 2005, Nestle Waters announced the creation of a partnership with the Zahaf Brothers, owners ofthe Boissons Gazeuses des Freres Zahaf Group (BGFZ), one of the leading players in the beverageproduct category in Algeria. Nestle Waters and the Zahaf Brothers formed a joint stock companycalled Societe Source de Taberkachent (SST), with Nestle Waters holding 51% of the capital. SSTin turn took over all of the BGFZ Groups bottled water business and the Sidi El Kebir water brand.Later in the year, Nestle Australia announced that it would cease to manufacture milk powder. As aresult of an agreement with Fonterra, Nestle Australia bought a range of powdered milk productsfrom Fonterra, which in turn took over the collection of milk from about 420 farmers in Victoria Stateand acquired the Dennington milk factory. Simultaneously, Nestle Australia restructured its Tongala(Victoria) milk factory, ceased its milk powder production and continued to manufacture only liquidmilk products. At the same time, in the Netherlands, Nestles Gorinchem powdered milk factory wasacquired by a Dutch entrepreneur, Mr. Jaap Vreugdenhill.Nestle acquired Delta Ice Cream in 2005. Delta Ice Cream had operations in Greece as well asBulgaria, Macedonia, Romania, Serbia and Montenegro. In the same year, the company announcedthat it was forming a joint venture with French-based Groupe Lactalis to enhance its business in thechilled dairy sector in Europe.Nestlé SA Page 8© Datamonitor
  • Nestlé SAHistoryThe company started reporting results of globally managed nutrition activities (Nutrition) separatelyfrom the companys geographic zones in 2006. As a consequence, the 2005 geographic segmentinformation was restated. During the same year, the company created W. Health, a fund to investin companies active in health, well-being and nutrition as an external complement to Nestles owninternal research and development competencies. Additionally, the companys subsidiary in Australiaacquired Uncle Tobys, a food company engaged in breakfast cereals, nutritious snacks and instantsoups, during the same time. This acquisition gave Nestle Australia the leading position in nutritioussnacks.Further, in 2006, Nestle acquired Jenny Craig, a weight management company offering consumersa range of branded nutritional products and services in the US, Canada, Australia and New Zealand.During the same year, Nestle Nespresso, a strategic business unit of Nestle, announced that thecompany would open a new coffee Production-Distribution Centre in Avenches, Switzerland. In thesame year, Nestle also signed an agreement to sell certain of its canned liquid milk businesses toFraser & Neave Holdings Berhad (F&N), a Singapore-based company. Further, in 2006, the NestleResearch Center (NRC) and Ecole Polytechnique Federale de Lausanne (EPFL) signed a five-yearagreement to conduct research on the relationship between nutrition and the brain. Under thisagreement, Nestle would contribute CHF5 million per year ($4.1 million) for the research.Nestle announced that it has agreed to acquire the entire medical nutrition business of Novartis for$2,500 million towards the end of 2006. Nestle and Barry Callebaut broadened their strategicco-operation in Europe in 2007. This included transfer of production facilities in Italy and France, aswell as a long-term supply contract for Barry Callebaut to furnish chocolate mass to Nestle chocolatefactories in Russia.In 2007, the company opened a milk processing plant with a processing capacity of 2 million litersof milk per day, in Pakistan. During the same year, Nestle and The Coca-Cola Company (TCCC)reached a final agreement on refocusing the activities of their Beverage Partners Worldwide (BPW)joint venture. Under the terms of the agreement, BPW would cover the total ready-to-drink teacategory worldwide except in the US and Japan. In this connection, Nestle licensed its Nestea andEnviga brands to TCCC in the US and to BPW for the rest of the world.The company completed the acquisition of Gerber, a US baby food brand, from Novartis during2007. It also signed an agreement with Rouge family, the majority shareholder of Sources MineralesHenniez, on the acquisition by Nestle of 61.6% of the companys shares during the same period.Further, in 2007, Nestle Rossiya, the companys Russian subsidiary, acquired Ruzskaya ConfectioneryFactory (RKF), a leading premium chocolate producer in Russia. RKF offered a wide range ofchocolate products under the Comilfo and Ruzanna brands. Also, during the same year, Nestleentered into a strategic partnership with Pierre Marcolini, Brussels-based luxury chocolate maker.In 2008, Nestle established Chocolate Centre of Excellence, the companys first R&D facility entirelydedicated to the development of premium and luxury chocolate, at its chocolate factory in Broc(Switzerland).Nestlé SA Page 9© Datamonitor
  • Nestlé SAHistoryThe company opened a Nestle Nutrition facility in Konolfingen, Switzerland, in early 2008. The plantwould produce new-generation probiotic infant formula under the NAN brand. Further, during thesame period, the company sold 24.85% of Alcons issued and outstanding capital to Novartis forapproximately $11,000 million in cash. In late 2008, Nestle recalled a UHT pure milk product in HongKong after samples containing a tiny amount of the chemical melamine were discovered in theproduct.Towards the end of 2008, Nestle opened the new Nestle Professional Customer Innovation Campusin Solon, Ohio, dedicated to the development of culinary food solutions for the out-of-home business.During the same period, Nestle pulled out its Farinha Lacetea cereal from US store shelves due topotential traces of pesticide, which is currently not approved for use on US wheat.In 2009, Nestle and The Coca-Cola Company (TCCC) agreed to pay $650,000 as part of a pact with27 states to resolve a marketing dispute over claims their Enviga-brand green tea, a beveragedeveloped by TCCC and Nestle, burns extra calories resulting in weight loss. During the same period,The Hellenic Competition Commission fined Nestle E30 million ($27.8 million) for abusing itsdominant position in the instant coffee market.Nestle launched a ready-to-drink aseptic products factory in Anderson, Indiana during 2009. Thelaunch gave it a platform to leverage its nutrition, health and wellness strategy. During the sameperiod, the company inaugurated a new research and development centre in Abidjan, West Africato focus on improving the quality of locally-sourced raw materials, including cocoa, coffee andcassava, and on adapting products to the nutritional needs and tastes of West African consumers.In Japan, Nestle launched its first Japan-based research unit for fundamental scientific research in2009. The research unit, part of Nestle Science and Research in Switzerland, would focus onfundamental research in nutrition and health. In late 2009, Nestle inaugurated the worlds largestbouillon factory in Shanghai, China to provide the needed capacity to meet the growing demand forTotole, one of the leading bouillon brands in China. Towards the end of 2009, Nestle Professionalannounced an agreement to acquire Vitality Foodservice Inc., one of North Americas beveragesolution providers to the foodservice industry.In January 2010, the company sold its stake in Alcon, representing around 52% of the companysissued and outstanding share capital for a total of around $28,000 million in cash to Novartis.In March 2010, Nestle completed the acquisition of Kraft Foods frozen pizza business. Nestleannounced the launch of its Jenny Craig weight management programme in France in March 2010and in UK in April 2010.Nestle launched Special.T, a tea machine system, in May 2010. It underlines the company’s increasingpresence in the beverage machine market beginning with Nespresso.In August 2010, Nestle acquired Vitaflo, a Liverpool-based global provider of clinical nutritionalproducts. The acquisition allows Nestle to enter the fast-growing global market for clinical nutritionNestlé SA Page 10© Datamonitor
  • Nestlé SAHistoryproducts customized for people with inherited metabolic disorders. In the same month, the companycompleted the sale of its remaining shares in Alcon to Novartis.The company announced the agreement to acquire the Waggin’ Train dog snacks business in theUS in September 2010. Waggin’ Train is a leading marketer in the fast growing real-meat dog snackssegment. In the same month, the company announced the establishment of a research anddevelopment (R&D) center in India. The facility will be built in Manesar, close to Nestle India’sheadquarters in Gurgaon, and will be operational in 2012. Further in the month, the companyestablished Nestle Health Science and the Nestle Institute of Health Sciences. These two separateorganizations will develop the innovative area of personalized health science nutrition to preventand treat health conditions such as diabetes, obesity, cardiovascular disease and Alzheimer’sdisease.During April 2011, Nestle signed a partnership agreement resulting in a 60% stake in the Chinesefood company Yinlu Foods Group. The following month, Nestle Health Science acquired PrometheusLaboratories, a San Diego-based company. Prometheus specializes in diagnostics and in-licensedspecialty pharmaceuticals in gastroenterology and oncology and focuses on conditions such asinflammatory bowel diseases, including Crohn’s disease and ulcerative colitis.Nestlé SA Page 11© Datamonitor
  • Nestlé SAKey EmployeesKEY EMPLOYEESName Job Title Board CompensationPaul Bulcke Chief Executive Officer Executive Board 10572493 CHFWerner J. Bauer Executive Vice President, Chief Executive Board Technology Officer, and Head, Innovation, Technology, Research and DevelopmentFrits Van Dijk Executive Vice President and Zone Executive Board Director, Asia, Oceania, Africa and Middle EastJose Lopez Executive Vice President, Executive Board Operations, GLOBE (Global Business Excellence, IS/IT)John J. Harris Executive Vice President and Executive Board Chairman and Chief Executive Officer, Nestle WatersJames Singh Executive Vice President, Finance Executive Board and Control, Legal, IP, Tax, Global Nestle Business ServicesLaurent Freixe Executive Vice President and Zone Executive Board Director, EuropeChris Johnson Executive Vice President and Zone Executive Board Director, US, Canada, Latin America and CaribbeanPatrice Bula Executive Vice President Executive BoardMarc Caira Deputy Executive Vice President Executive Board and Chief Executive Officer, Nestle ProfessionalJean-Marc Duvoisin Deputy Executive Vice President Executive Board and Head, Human Resources and Centre AdministrationNandu Nandkishore Deputy Executive Vice President Executive Board and Head, Nestle NutritionDavid P. Frick Senior Vice President, Corporate Executive Board Governance, Compliance and Corporate ServicesPeter Brabeck-Letmathe Chairman Non Executive Board 8326344 CHFAndreas Koopmann First Vice Chairman Non Executive Board 600910 CHFRolf Hanggi Second Vice Chairman Non Executive Board 610380 CHFJean Rene Fourtou Director Non Executive Board 506438 CHFDaniel Borel Director Non Executive Board 374131 CHFNestlé SA Page 12© Datamonitor
  • Nestlé SAKey EmployeesName Job Title Board CompensationJean Pierre Meyers Director Non Executive Board 317402 CHFAndre Kudelski Director Non Executive Board 374131 CHFCarolina Muller-Mohl Director Non Executive Board 317402 CHFSteven George Hoch Director Non Executive Board 317402 CHFNaina Lal Kidwai Director Non Executive Board 374131 CHFBeat Hess Director Non Executive Board 374131 CHFTitia de Lange Director Non Executive Board 279613 CHFJean-Pierre Roth Director Non Executive Board 279613 CHFAnn Veneman Director Non Executive BoardNestlé SA Page 13© Datamonitor
  • Nestlé SAKey Employee BiographiesKEY EMPLOYEE BIOGRAPHIESPaul BulckeBoard: Executive BoardJob Title: Chief Executive OfficerSince: 2008Age: 57Mr. Bulcke has been the Chief Executive Officer at Nestle since 2008. Prior to this, he served asthe Executive Vice President and Zone Director for Americas from 2004-08. Previously, Mr. Bulckeworked in numerous positions at Nestle including marketing, sales and division functions at NestlePeru, Nestle Ecuador and Nestle Chile from 1980 to 1996, and as Managing Director at NestlePortugal from 1996 to 1998. He was the Managing Director at Nestle Czech and Slovak Republicfrom 1998 to 2000, then until 2003 he was Managing Director at Nestle Germany. Prior to joiningNestle in 1979, Mr. Bulcke was a Financial Analyst at Scott Graphics International from 1977-1979.Werner J. BauerBoard: Executive BoardJob Title: Executive Vice President, Chief Technology Officer, and Head, Innovation, Technology,Research and DevelopmentSince: 2007Age: 61Mr. Bauer has been the Executive Vice President, Chief Technology Officer, and Head, Innovation,Technology, Research and Development at Nestle since 2007. He was the Head of Nestle ResearchCenter in 1990 and in 1996 was appointed Head of Nestle Research and Development. Mr. Bauerlater became Technical Manager, Nestle Southern and Eastern Africa Region. In 2000, he becameRegion Head, Nestle Southern and Eastern Africa Region. In 2002, Mr. Bauer was appointedExecutive Vice President, Head of Corporate Technical, Production and Research and Development.Previously, he worked as a Professor, Chemical Engineering at the Technical University, Hamburg.Frits Van DijkBoard: Executive BoardJob Title: Executive Vice President and Zone Director, Asia, Oceania, Africa and Middle EastSince: 2005Age: 64Mr. Dijk has been the Executive Vice President and Zone Director, Asia, Oceania, Africa and MiddleEast at Nestle since 2005. He became a Sales Representative for Nestle UK in 1970. Following this,Nestlé SA Page 14© Datamonitor
  • Nestlé SAKey Employee BiographiesMr. Dijk worked as Assistant to Managing Director at Nestle India and as Product Manager at NestlePhilippines. In 1979, he joined the Marketing Beverage Division, and later became Marketing Manager,Nestle Sri Lanka. In 1987, Mr. Dijk was appointed Chief Operating Officer at Nestle Malaysia andthe following year he was appointed as Managing Director at Nestle Malaysia. He was appointedManaging Director at Nestle Japan in 1995. Mr. Dijk became Chairman and Chief Executive Officerat Nestle Waters Worldwide in 2000.Jose LopezBoard: Executive BoardJob Title: Executive Vice President, Operations, GLOBE (Global Business Excellence, IS/IT)Since: 2008Age: 59Mr. Lopez has been Executive Vice President, Operations, GLOBE (Global Business Excellence,IS/IT) at Nestle since 2008. Previously, he served as Chief Executive Officer at Nestle Japan Group.In addition, Mr. Lopez was Managing Director at Nestle Malaysia, Head of Region Malaysia/Singapore,and Executive Director of Operations in Oceania in charge of technical division, supply chainoperations and export. He also served as Technical Director at Nestle Australia. Mr. Lopez currentlyserves as the Chairman at Nestrade and Vice Chairman of GS1.John J. HarrisBoard: Executive BoardJob Title: Executive Vice President and Chairman and Chief Executive Officer, Nestle WatersSince: 2007Age: 60Mr. Harris has been Executive Vice President, Chairman and Chief Executive Officer, Nestle Watersat Nestle since 2007. In 2002, he was appointed Chief Executive Officer of Nestle Purina PetCareEurope. Mr. Harris has served at Carnation Company as Marketing Management Trainee, amongothers.James SinghBoard: Executive BoardJob Title: Executive Vice President, Finance and Control, Legal, IP, Tax, Global Nestle BusinessServicesSince: 2008Age: 65Mr. Singh has been Executive Vice President, Finance and Control, Legal, IP, Tax, Global NestleBusiness Services at Nestle since 2008. From 2000 till 2008, he served as Senior Vice President,Nestlé SA Page 15© Datamonitor
  • Nestlé SAKey Employee BiographiesAcquisitions and Business Development. From 1995 until 2000, Mr. Singh served as Executive VicePresident and Chief Financial Officer, Nestle Canada.Laurent FreixeBoard: Executive BoardJob Title: Executive Vice President and Zone Director, EuropeSince: 2008Age: 48Mr. Freixe has been Executive Vice President and Zone Director, Europe at Nestle since 2008. In1999, he was appointed Head of the Nutrition Division, Nestle France and became Market Head ofNestle Hungary in 2003. In 2007, Mr. Freixe was appointed Market Head of the Iberian region takingresponsibility for Spain and Portugal.Chris JohnsonBoard: Executive BoardJob Title: Executive Vice President and Zone Director, US, Canada, Latin America and CaribbeanSince: 2011Age: 40Mr. Johnson has been the Executive Vice President and Zone Director, US, Canada, Latin Americaand Caribbean at Nestle since 2011. He served in various capacities at Nestle including MarketHead, Nestle Japan; Deputy Executive Vice President, Nestec; and Market Head, Nestle Taiwan.Patrice BulaBoard: Executive BoardJob Title: Executive Vice PresidentSince: 2011Age: 55Mr. Bula has been the Executive Vice President at Nestle since 2011. He is responsible for theStrategic Business Units, Marketing, Sales and Nespresso. Earlier, Mr. Bula served as the MarketHead, Nestle Greater China Region and Market Head, Nestle Germany.Marc CairaBoard: Executive BoardJob Title: Deputy Executive Vice President and Chief Executive Officer, Nestle ProfessionalSince: 2006Age: 57Nestlé SA Page 16© Datamonitor
  • Nestlé SAKey Employee BiographiesMr. Caira has been the Deputy Executive Vice President and Chief Executive Officer, NestleProfessional at Nestle Professional since 2006. He served as the President and Chief ExecutiveOfficer at Parmalat North America from 2002 to 2006. Mr. Caira also served as Chief OperatingOfficer at Parmalat Canada from 2000-2002.Jean-Marc DuvoisinBoard: Executive BoardJob Title: Deputy Executive Vice President and Head, Human Resources and Centre AdministrationSince: 2010Age: 52Mr. Duvoisin has been the Deputy Executive Vice President and Head, Human Resources andCentre Administration at Nestle since 2010. Previously, he served as Senior Vice President andHead of Corporate Human Resources at Nestle.Nandu NandkishoreBoard: Executive BoardJob Title: Deputy Executive Vice President and Head, Nestle NutritionSince: 2010Age: 53Mr. Nandkishore has been the Deputy Executive Vice President and Head, Nestle Nutrition at Nestlesince 2010. He joined Nestle India in 1989 and assumed responsibilities in marketing. Mr. Nandkishorelater served at various capacities in Nestle including Head, Confectionery Business Unit NestleIndonesia; Marketing and Sales Director, Nestle Indonesia; Market Head, Nestle Indonesia; MarketHead, Nestle Philippines; and Global Business Head, Infant Nutrition.David P. FrickBoard: Executive BoardJob Title: Senior Vice President, Corporate Governance, Compliance and Corporate ServicesSince: 2006Age: 46Mr. Frick has been the Senior Vice President, Corporate Governance, Compliance and CorporateServices at Nestle since 2006. Previously, he served as Group General Counsel and Head of Legaland Compliance at Credit Suisse Group, Zurich from 1999 to 2005.Peter Brabeck-LetmatheBoard: Non Executive BoardNestlé SA Page 17© Datamonitor
  • Nestlé SAKey Employee BiographiesJob Title: ChairmanSince: 2008Age: 67Mr. Brabeck-Letmathe has been the Chairman at Nestle since 2008. Previously, he served as theChief Executive Officer of the company. In 1968, Mr. Brabeck-Letmathe joined the Nestle Groupsoperating company in Austria. From 1970-1980, he was national Sales Manager, and later theDirector of Marketing at Nestle Chile. In 1981, Mr. Brabeck-Letmathe was appointed as ManagingDirector at Nestle Ecuador. In 1987, he was transferred to Nestles international headquarters inVevey as Vice President in charge of the Culinary Products Division. Subsequently in 1992, Mr.Brabeck-Letmathe was appointed the Executive Vice President at Nestle with worldwide responsibilityfor Strategic Business Group 2. He was appointed Chief Executive Officer and member of the Boardof Directors in 1987. Mr. Brabeck-Letmathe studied Economics at the University of World Trade,Vienna. Currently, he also serves as the Vice Chairman at LOreal and Credit Suisse Group; and asboard member at Delta Topco and Exxon.Andreas KoopmannBoard: Non Executive BoardJob Title: First Vice ChairmanAge: 60Mr. Koopmann serves as the First Vice Chairman at Nestle. He joined Bobst Group in 1989 andserved as its Chief Executive Officer from 1995 to 2009. Prior to that, Mr. Koopmann served at MotorColumbus and Bruno Piatti. Presently, he also serves as the Country President at Alstom andChairman at Alstom (Suisse). Mr. Koopmann also serves as the Vice Chairman at Swissmem andboard member at Credit Suisse Group, CSD Group, and Georg Fischer.Rolf HanggiBoard: Non Executive BoardJob Title: Second Vice ChairmanAge: 68Mr. Hanggi serves as the Second Vice Chairman at Nestle. He has experience in financial industryand has worked in Swiss Bank Corporation, Union Bank of Switzerland, Baselland Cantonal Bank,and Zurich Insurance Company. Mr. Hanggi has been a Consultant since 1997. Besides, he isMember of the Board of Trustees at Foundation Luftbild Schweiz. Mr. Hanggi also serves as aMember of the Foundation Board at Werner Abegg Fonds Foundation and as a Member of theAdvisory Board at University of Zurich, Mastercourse of Advanced Studies in Applied History.Jean Rene FourtouBoard: Non Executive BoardNestlé SA Page 18© Datamonitor
  • Nestlé SAKey Employee BiographiesJob Title: DirectorSince: 2006Age: 71Mr. Fourtou has been a Director at Nestle since 2006. From 1963 to 1972, he worked as ConsultingEngineer in organizational management at Bossard & Michel. Mr. Fourtou later moved to the postof Chief Executive Officer at Bossard Consultants. From 1977 to 1986, he was the Chairman andChief Executive Officer at the Bossard Group. In 1986, Mr. Fourtou moved to Rhone-Poulenc Group,where he also served as Chairman and Chief Executive Officer. From 1999 to 2002, he was theVice Chairman of the Management Board and Managing Director at Aventis, which was created bythe merger of Hoechst and Rhone-Poulenc. Mr. Fourtou served as Chairman and Chief ExecutiveOfficer at Vivendi Universal, from 2002 to 2005, before becoming Chairman of the Supervisory Boardin 2005. He also serves as the Chairman of the Supervisory Board of Canal+ Group and BordeauxUniversity Foundation. Mr. Fourtou also serves on the boards of Sanofi-Aventis Maroc Telecom.Daniel BorelBoard: Non Executive BoardJob Title: DirectorSince: 2004Age: 61Mr. Borel has been a Director at Nestle since 2004. In 1981, he co-founded Logitech. Between 1982and 1988, Mr. Borel was Chairman and Chief Executive Officer at Logitech. Between 1992 and1998, he was Chairman and Chief Executive Officer of Logitech International and, during 1998-2008,he was appointed as Chairman at Logitech International, Apples, Switzerland. Since 2008, Mr. Borelhas served as the board member at Logitech. He also serves as the Chairman at swissUp, Foundationfor Excellence in Education and as member of the board of Defitech Foundation.Jean Pierre MeyersBoard: Non Executive BoardJob Title: DirectorSince: 1991Age: 63Mr. Meyers has been a Director at Nestle since 1991. From 1972, he was attached to the directorateof financial affairs at Societe Generale. During the same time, Mr. Meyers was Assistant Professorat the Ecole Superieure de Commerce in Rouen. From 1980 to 1984, he was Director at the BankOdier Bugineier Courvoisier. Mr. Meyers is currently Vice Chairman of LOreal andBettencourt-Schueller Foundation. He also serves as the Director General at Tethys.Andre KudelskiNestlé SA Page 19© Datamonitor
  • Nestlé SAKey Employee BiographiesBoard: Non Executive BoardJob Title: DirectorSince: 2001Age: 51Mr. Kudelski has been a Director at Nestle since 2001. In 1984, he started his career at KudelskiGroup as a research and development engineer. In 1991, Mr. Kudelski took over the position ofChairman and Chief Executive Officer of the Kudelski Group. In 1992, he became Chairman andChief Executive Officer at Nagra Plus, a joint venture of Kudelski and Canal Plus. Mr. Kudelski alsoserves as the Vice Chairman at Swiss-American Chamber of Commerce and as board member atDassault Systemes, Edipresse and HSBC Private Banking Holdings.Carolina Muller-MohlBoard: Non Executive BoardJob Title: DirectorSince: 2004Age: 43Ms. Muller-Mohl has been a Director at Nestle since 2004. She worked as Journalist in advertisingand as Public Relations Consultant until 1999. In 1999, Ms. Muller-Mohl was appointed as ViceChair of the Board of Mueller-Moehl Holding and, in 2000, she was appointed President at theMueller-Mohl Group. She serves as the Chairperson at Hyos Invest Holding and as board memberat Orascom Development Holding, Pestalozzi Foundation, Zoo Zurich, SMG - SchweizerischeManagement Gesellschaft, and NZZ Mediengruppe. Ms. Muller-Mohl is the founding member andCo-President of Forum Building and a member of the advisory board of the Swiss Economic Forum.Steven George HochBoard: Non Executive BoardJob Title: DirectorSince: 2006Age: 57Mr. Hoch has been a Director at Nestle since 2006. He worked as Account Officer and as Head ofCorporate Banking for Switzerland at Chemical Bank, New York and Zurich from 1978 to 1986. Mr.Hoch then moved to the International Private Banking Division as Vice President and Head of theEurope/North America Group. In 1987, he became Member of the Management Committee andVice President, Business Development at Bank in Liechtenstein Trust Company and BIL, TrainerWortham. Mr. Hoch then went on to serve as Senior Vice President and Member of ManagementCommittee at Bessemer Trust Company. From 1994 till 2002, he served as Member of the ExecutiveCommittee and Head of Client Service at Pell Rudman Trust Company in Boston. Since 2002, Mr.Hoch has been Founder and Senior Partner of Highmount Capital.Nestlé SA Page 20© Datamonitor
  • Nestlé SAKey Employee BiographiesNaina Lal KidwaiBoard: Non Executive BoardJob Title: DirectorSince: 2006Age: 54Ms. Kidwai has been a Director at Nestle since 2006. She currently serves as Group General Managerand Country Head at HSBC Group Companies in India. Prior to this Ms. Kidwai was Deputy ChiefExecutive Officer HSBC and Managing Director and Vice Chairman at HSBC Securities and CapitalMarkets India Private Limited. Till 2002, she was Vice Chairman at JM Morgan Stanley, and Headof the Investment Bank in India and the Morgan Stanley representative on the Board of Directors.Beat HessBoard: Non Executive BoardJob Title: DirectorSince: 2008Age: 61Mr. Hess serves as a Director at Nestle since 2008. He was the Group Legal Director and Memberof the company Executive Committee at Royal Dutch Shell from 2003 till 2011. From 1988 to 2003,Mr. Hess served as the Senior Group Officer, General Counsel and Secretary at ABB. From 1977to 1988, he served as the Legal Counsel and later as General Counsel at BBC Brown Boveri. Mr.Hess is also Member of the Board of Holcim, The Hague Academy of International Law and Memberof the Supervisory Board of the Hague Institute for the Internationalisation of Law.Titia de LangeBoard: Non Executive BoardJob Title: DirectorSince: 2010Age: 56Ms. Lange has been a Director at Nestle since 2010. She has been Associate Director, AndersonCancer Center at The Rockefeller University since 2006. Ms. Lange has been Leon Hess Professorat The Rockefeller University since 1999 and Professor of The Rockefeller University since 1997.She also served as Associate Professor at The Rockefeller University from 1994 to 1997; and asAssistant Professor at The Rockefeller University from 1990 to 1994.Jean-Pierre RothBoard: Non Executive BoardJob Title: DirectorNestlé SA Page 21© Datamonitor
  • Nestlé SAKey Employee BiographiesSince: 2010Age: 65Mr. Roth has been a Director at Nestle since 2010. He served as Governor of the InternationalMonetary Fund (IMF) for Switzerland from 2001 to 2009. Mr. Roth served as Vice Chairman of theGoverning Board of Swiss National Bank from 1996 to 2001. He served as a Director at Bank forInternational Settlements from 2001 to 2009. Mr. Roth held lectureships at the University of Genevaand at the Institute Universitaire de Hautes Etudes Internationales. He is a Member of the Board ofSwatch Group and Swiss Re. Since 2010, Mr. Roth serves as the Chairman of the Board of Directorsof Geneva Cantonal Bank. He is also the Member of the Foundation Board and Programme Committeeof Avenir Suisse.Ann VenemanBoard: Non Executive BoardJob Title: DirectorSince: 2011Age: 62Ms. Veneman has been a Director at Nestle since 2011. From 2005 to 2010, she served as theExecutive Director at United Nations Children’s Fund. Earlier, from 2001 to 2005, Ms. Veneman wasthe Secretary of US Department of Agriculture. Presently, she serves on the board of AlexionPharmaceuticals.Nestlé SA Page 22© Datamonitor
  • Nestlé SAMajor Products and ServicesMAJOR PRODUCTS AND SERVICESNestle (or ‘the company’) is engaged in the business of manufacturing and marketing branded foodand beverages. The companys key products and brands include the following:Products:CoffeeChocolate-based and malted drinksBottled waterFruit juicesBreakfast cerealsPerformance barsInfant food productsIce creamYoghurtDessertsNoodlesNutritionally enriched foods and drinksPet care productsPharmaceutical productsBrands:Acqua PannaAeroAlpoAquarelBoostBuitoniButterfingerCaillerCarnationCat ChowCerelacChocapicCini MinisClinutrenCoffee-MateCookie CrispCrunchDog ChowDreyersNestlé SA Page 23© Datamonitor
  • Nestlé SAMajor Products and ServicesExtremeFancy FeastFelixFitnessFriskiesGerberGourmetHaagen-DazsHertaHot PacketsJenny CraigJuicy JuiceKit KatLa LaitiereLean CuisineMaggiMiloModulenMovenpickMucilonMusashiNescafeNespressoNesquikNesteaNestleNestumNidoNutrenOrionPeptamenPowerBarPro Plan OnePure LifePurinaSmartiesStouffersThomyVeraVittelNestlé SA Page 24© Datamonitor
  • Nestlé SARevenue AnalysisREVENUE ANALYSISThe company recorded revenues of CHF109,722 million ($105,311.2 million) during the financialyear ended December 2010 (FY2010), an increase of 2% over 2009. For FY2010, Zone Americas,the companys largest geographic market, accounted for 31.3% of the total revenues.Nestle generates revenues through nine business divisions: powdered liquid and beverages (18.8%of the total revenues during FY2010), milk products and ice cream (18.6%), prepared dishes andcooking aids (16.5%), pet care (11.9%), confectionary (11%), nutrition (9.4%), water (8.3%), **Alcon(4.7%), and health and beauty joint ventures (0.8%).Revenues by Division*In FY2010, the powdered and liquid beverages division recorded revenues of CHF20,612 million($19,783.4 million), an increase of 7% over 2009.The milk products and ice cream division recorded revenues of CHF20,360 million ($19,541.5 million)in FY2010, an increase of 4.1% over 2009.The prepared dishes and cooking aids division recorded revenues of CHF18,093 million ($17,365.7million) in FY2010, an increase of 5.2% over 2009.The pet care division recorded revenues of CHF13,091 million ($12,564.7 million) in FY2010, anincrease of 1.2% over 2009.The confectionery division recorded revenues of CHF12,097 million ($11,610.7 million) in FY2010,an increase of 2.6% over 2009.The nutrition division recorded revenues of CHF10,368 million ($9,951.2 million) in FY2010, anincrease of 4% over 2009.The water division recorded revenues of CHF9,101 million ($8,735.1 million) in FY2010, an increaseof 0.4% over 2009.The Alcon division recorded revenues of CHF5,109 million ($4,903.6 million) in FY2010, a decreaseof 27.4% over 2009.The health and beauty joint ventures division recorded revenues of CHF891 million ($855.2 million)in FY2010, an increase of 14.1% over 2009.Revenues by Geography*Nestlé SA Page 25© Datamonitor
  • Nestlé SARevenue AnalysisZone Americas, Nestle’s largest geographical market, accounted for 31.3% of the total revenues inFY2010. Revenues from Zone Americas reached CHF34,301 million ($32,922.1 million) in 2010, anincrease of 6.6% over 2009.Zone Europe, accounted for 19.7% of the total revenues in FY2010. Revenues from Zone Europereached CHF21,580 million ($20,712.5 million) in 2010, a decrease of 4.2% compared to 2009.Zone Asia, Oceania and Africa accounted for 15.9% of the total revenues in FY2010. Revenuesfrom Zone Asia, Oceania and Africa reached CHF17,409 million ($16,709.2 million) in 2010, anincrease of 9.6% over 2009.Other food and beverages accounted for 10% of the total revenues in FY2010. Revenues from otherfood and beverages reached CHF10,971 million ($10,530 million) in 2010, an increase of 7.7% over2009.Nestle Nutrition accounted for 9.4% of the total revenues in FY2010. Revenues from Nestle Nutritionreached CHF10,366 million ($9,949.3 million) in 2010, an increase of 4% over 2009.Nestle Waters accounted for 8.3% of the total revenues in FY2010. Revenues from Nestle Watersreached CHF9,095 million ($8729.4 million) in 2010, an increase of 0.4% over 2009.Pharmaceutical products accounted for 5.5% of the total revenues in FY2010. Revenues frompharmaceutical products reached CHF6,000 million ($5,758.8 million) in 2010, a decrease of 23.3%compared to 2009.*The companys reporting structure comprises its globally managed business and product groupsand hence the reported segments in revenue analysis are aligned differently from the segmentsmentioned in the business description.**Alcon was disposed in August 2010.Nestlé SA Page 26© Datamonitor
  • Nestlé SASWOT AnalysisSWOT ANALYSISNestle (or ‘the company’) is the largest food and beverage company in the world. The companysproducts include beverages, milk based products, ice creams, prepared dishes, and pharmaceuticalproducts. Nestle owns some of the world’s best-known brands across diverse product categories.A strong brand portfolio allows the company to address varied age groups and customer profiles.However, allegations of unethical business activities may have a significant impact on customerloyalty and attitudes towards the company. Strengths Weaknesses Strong brands across diversified product Increasing instances of product recalls portfolio consolidates Nestle’s global hamper brand equity leadership Ability to customize products to the local market conditions Strong focus on research and development capabilities Opportunities Threats Transition to a nutrition and well-being Compliance issue resulting in penalty company payments Focus on enhancing business opportunities Negative publicity because of allegations of in developing and emerging economies unethical business activities Acquisitions to bolster product extension as Rise in commodity costs well as market consolidationStrengthsStrong brands across diversified product portfolio consolidates Nestle’s global leadershipNestle owns some of the world’s best-known brands across diverse product categories. Thecompany’s product portfolio encompasses a range of offerings in dairy, pet care, confectionary,coffee, frozen and chilled meals, bottled water, ice creams, powdered beverages, weight management,infant nutrition, and performance nutrition. In each of these product categories, the company hasestablished its leadership through some of the world’s most valuable brands. For instance, Nestlé’sNescafe brand is the world leader in global coffee market. The company is one of the worlds topbottled water manufacturers and Nestle Pure Life is the biggest water brand in the world. Thecompany is also the largest player in the pet food business through its Purina brand and sub-brandsincluding Dog Chow and Friskies. It is also the global leader in dairy and infant nutrition. Besides,Nestlé SA Page 27© Datamonitor
  • Nestlé SASWOT AnalysisKit Kat and Nestle in confectionary; Dreyers and Edys in ice cream; and Maggi in noodles are someof the largest brands in each of their respective product categories.Moreover, Nestle has been growing its market position on the strength of these brands.The companyseach of the top 28 brands earn around billion in annual sales and contribute approximately 75% oftotal sales. Furthermore, these top brands are growing at double-digit rate which underlines thecompany’s strong growth fundamentals. The company’s Nespresso brand, its single-serve capsulecoffee system, has grown organically at over 20% in FY2010 compared to previous period. On theother hand, Nestle, Nido, Nestle Pure Life, Gerber, Nan, Nestea, Milo, and Galderma have grownat a rate of 10-20% during the same period. This indicates the companys ability to leverage its brandpopularity to generate sales.The companys strong brand has been its competitive advantage which facilitates customer recalland allows Nestle to penetrate new markets as well as consolidate its presence in the existing ones.Besides, product diversification reduces dependence on particular industry and also adds to thecompany’s revenue base. Moreover, Nestle’s market leadership and industry-leading brands provideseconomy of scale and in turn enhance its bargaining power.Ability to customize products to the local market conditionsOne of Nestles key strengths is its ability to customize global products according to consumerpreferences in the local market.This is achieved by ensuring that its subsidiaries understand consumerpreferences in the local market and develop products that match them. For instance, its confectioneryrange sold in the UK is called Rolo, while it is known as Rossyia in Russia. Furthermore, thecompanys coffee brand Nescafe, comes in many variations, adapted to local tastes and preferences.Customized products with the same underlying international quality standards ensure continuedcustomer loyalty towards the brand and the company.Strong focus on research and development capabilitiesNestle has strong research and development (R&D) capabilities. The company’s global R&D centersnow reach five continents and operate 29 research, development and technology facilities worldwide.The company’s R&D network includes Nestle Research Centre (NRC), internationally renowned forits work in the food and nutritional sciences; 10 Product Technology Centers (PTCs), which act asan epicenter for all global products and process development for Nestle’s businesses; and 17 R&Dcenters, which have a global or local role working with PTCs in joint projects. In addition, 280Application Groups (AGs) work in collaboration with the R&D centers to customize product for localconsumers. Apart from well-established R&D network, Nestle also has huge R&D investment outlayamounting to CHF1.9 billion ($1.8 billion).Nestles continued focus on R&D initiatives enables the company to increase its profitability. Forexample, powdered and liquid beverages products category achieved an organic growth of 8.5% in2010 over 2009 since the segment benefited from the continued roll-out of renovated Nescafe brandssuch as Alta Rica, and innovations such as Nescafe Green Blend. Thus, strong R&D capabilitiesallow Nestle to renew its product line at regular intervals, while boosting revenue growth.Nestlé SA Page 28© Datamonitor
  • Nestlé SASWOT AnalysisWeaknessesIncreasing instances of product recalls hamper brand equityNestle has a history of recalling a number of products from the market. For instance, in 2011, thecompany initiated recalls of Lean Cuisine packaged meals in the US after reports indicated presenceof red plastic pieces inside meatballs. In the same year, the company recalled some packs of itsMilkybar Buttons due to the likely presence of small pieces of rubber. This was followed by recall ofMaggi noodles for possible salmonella contamination in Philippines. Earlier, in 2010, the companyhad recalled its Nescafe Collections coffee due to the possible presence of small pieces of glass.Prior to that, in 2009, the company recalled refrigerated and frozen Nestle Toll House cookie doughproducts when Nestle USA, a subsidiary of Nestle, was notified by the United States Food and DrugAdministration (FDA) and the Centers for Disease Control (CDC) of a possible link between reportedillnesses caused by E.coli 0157:H7 and the consumption of uncooked cookie dough. Moreover, in2008, Nestle USA, recalled Nestle Nesquik Strawberry Powder, fearing that it may contain smallfragments of aluminum. During the same period, reports of small chunks of blue plastic in LeanCuisine brand frozen chicken dinners have led Nestle Prepared Foods Co. a subsidiary of thecompany, to recall around 900,000 pounds worth of meals. Earlier, in 2008, Nestle recalled a UHTpure milk product in Hong Kong after samples containing a tiny amount of the chemical melaminewere discovered in the product. Several product recalls like these indicate inadequate qualityassurance and quality control systems for Nestle. Also, recurrent product recalls affect the brandimage of the company, which would eventually lead to low customer loyalty and brand equity.OpportunitiesTransition to a nutrition and well-being companyNestle is primarily focusing on nutrition to drive its growth. The growing focus of the world’s largestfood and beverage company towards health and nutrition is well reflected in its assertion as “world’sleading nutrition, health, and wellness company”. To emerge as one of the leaders in health andnutrition market, the company established Nestle Health Science and Nestle Institute of HealthSciences in 2010. Both these institutes will focus on developing personalized health science nutritionto prevent and treat health conditions such as diabetes, obesity, cardiovascular and Alzheimer’sdiseases. Furthermore, the acquisition of Vitaflo, a global provider of clinical nutritional products,allowed Nestle to enter the fast-growing global market for clinical nutrition products customized forpeople with inherited metabolic disorders.Nestle is also efficiently utilizing its R&D capabilities to position itself in the health and wellnessmarket. For instance, in preventive nutrition, it has forayed in the probiotics market. The companyis also working on scientific innovations to address obesity and diabetes. Other personalized nutritioninitiatives address the special nutritional needs of patients with illness related to ageing. In specializedNestlé SA Page 29© Datamonitor
  • Nestlé SASWOT Analysisareas such as genomics, proteomics and metabolomics, it is investigating the unknown territoriesof genes and proteins with the aim of adapting foods to meet very individual needs.In addition to these, Nestle renovated its 6,502 products for nutrition or health considerations. It isalso trying to promote new launches in food and beverage categories on the nutrition and wellnessplatform claiming “60/40+” advantage, with the “60/40” being targeted consumer preference and the“+” representing nutritional advantage.Nestles strategy to strengthen its position as a nutrition and well-being company comes at a timewhen consumers are increasingly becoming health conscious. According to industry journals, globalnutrition market is forecast to exceed $400 billion by 2014. Another industry competitor puts theglobal market for packaged nutrition at $500 billion. Rising health awareness, increasing percentagesof lifestyle related diseases, and growing government spending on healthcare reforms in emergingcountries is expected to drive the nutrition industry further in next few years. Hence, projecting itselfas nutrition, health, and wellness company, augurs well for the Nestle’s future growth strategy.Focus on enhancing business opportunities in developing and emerging economiesThe most significant growth opportunity for Nestle is in the developing and emerging economies(D&E) economies, most notably China and India. D&E economies have increasingly become importantconsidering their growing share in global economic growth. Their growing importance for food andbeverage company like Nestle could be gauged by the fact that emerging countries in Asia andAfrica are home to around 76% of the world’s population and 83% of the world’s babies. Moreover,Asia is expected to account for 34% of global gross domestic product (GDP) and 55% of globalwealth by 2030.Nestle has been active in D&E economies through its subsidiaries in Asia-Pacific, Africa, the MiddleEast, Turkey, and Latin America region. Sales in emerging countries accounted for almost 36% oftotal revenue and reached CHF39,000 million ($37,432.2 million) in 2010. The company expects togenerate 45% of its sales in emerging markets by the year 2020. The goal reflects Nestle’s growingstature in the region. For FY2010, emerging markets achieved organic growth of 11.5%. Moreover,13 of these markets generate annual sales exceeding CHF 1 billion ($0.9 billion); and five generatesannual sales over CHF 2 billion ($1.9 billion). The company’s emerging market business is beingsupported by local manufacturing, with 47% of factories (210 factories) located in emerging markets,and six R&D centers. The company has also increased its capex in these countries over the years.Its annual capex is expected to amount to CHF1,400 million in 2011 ($1,343.7 million) compared toCHF660 million ($633.5 million) in 2008. By focusing on developing markets, the company haspositioned its brands to grow in some of the high growth potential markets.Acquisitions to bolster product extension as well as market consolidationNestle has been active in acquisitions to grow its business in complementary areas. For instance,in 2011, Nestle acquired Prometheus Laboratories, a San Diego-based company. Prometheusspecializes in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncologyand focuses on conditions such as inflammatory bowel diseases, including Crohn’s disease andNestlé SA Page 30© Datamonitor
  • Nestlé SASWOT Analysisulcerative colitis. Its strong expertise and research and development in gastrointestinal and oncologydiagnostics will support Nestle’s ambitions in personalized healthcare for medical conditions. In thesame year, the company acquired controlling stake in the Chinese food company Yinlu Foods Group.Yinlu is a well established household brand in China and a significant marketer for ready-to-drinkpeanut milk and ready-to-eat canned rice porridge. The acquisition represents Nestles’ emphasisto grow its sales in emerging markets to 45% by 2020 from about 36% at present.Earlier, in 2010, the company announced its plans to acquired Waggin’ Train dog snacks businessin the US. Waggin’ Train is a leading marketer in the fast growing real-meat dog snacks segmentand has been the segments fastest growing leading brand with annual growth rates of around 30%over the last three years. The acquisition will further strengthen Nestle’s position in the pet careindustry which is poised to grow above average growth rates. In the same year, Nestle acquiredVitaflo, a Liverpool-based global provider of clinical nutritional products. The acquisition allowedNestle to enter the fast-growing global market for clinical nutrition products customized for peoplewith inherited metabolic disorders. Also in the year, Nestle completed the acquisition of Kraft Foodsfrozen pizza business. With estimated sales of $2,100 million in 2009, Kraft Foods was the leaderin the frozen pizza category and enjoyed double-digit growth in the US and Canada over the lastfour years. The acquisition consolidated Nestle’s market base in frozen food industry with inclusionof Kraft Foods well known brands such as DiGiorno, Tombstone and California Pizza Kitchen to theNestle’s already powerful frozen entrees and snacks brands like Stouffers, Lean Cusine, and HotPockets.Acquisitions such as Prometheus Laboratories and Yinlu Foods Group are strategic steps whichpositions the company to grow in some of future growth catalysts. While, acquisitions like Waggin’Train and Kraft Foods frozen pizza business consolidates the company’s leadership in some of theproduct categories. Similar acquisitions are likely to strengthen Nestle’ presence across variouscategories and in turn will enhance its topline and bottomline growth.ThreatsCompliance issue resulting in penalty paymentsNestle has been forced to pay fine amounting to thousands of US dollars during recent times. Forinstance, in early 2009, Nestle and The Coca Cola Company (TCCC) was asked to pay $650,000fine as part of a pact with 27 states to resolve a marketing dispute over claims that their Enviga-brandgreen tea beverage, product joint developed by TCCC and Nestle will burn extra calories resultingin weight loss. During the same period, The Hellenic Competition Commission fined Nestle E30million ($38.5 million) for abusing its dominant position in the instant coffee market. The statecompetition commission accused Nestle of taking steps to shoulder out other coffee providers in itsdeals with supermarkets, restaurants and distributors. Nestles reputation is based on consumerstrust. Any further major event triggered by a serious compliance issue could impact Nestles reputationand impact its shareholder confidence.Negative publicity because of allegations of unethical business activitiesNestlé SA Page 31© Datamonitor
  • Nestlé SASWOT AnalysisNestle has been criticized by various social organizations for alleged unethical business activities.For instance, the company has faced warnings over the past several years as it sourced cocoa fromfarms in the Ivory Coast, which employed child labor. The charges against the company includetrafficking, torture, and forced labor of children who cultivate and harvest cocoa beans, which thecompany imports from Africa.Furthermore, public criticism Nestle has faced revolves around artificial infant milk substitute. Mostof the major allegations against Nestle involve a breach of the World Health Organization (WHO)International Code of Marketing of Breast milk substitutes. These are not legally enforceableregulations, but health guidelines generally accepted by governments around the world. Nestle wasfurther criticized for advertising and marketing its products in ways that undermine breastfeeding,giving away free samples and promoting the use of its infant milk substitutes. Such criticisms leadto negative publicity and may have a significant impact on customer loyalty and attitudes towardsthe company.Rise in commodity costsNestle, the world’s largest food and beverage company, is also one of the biggest food raw materialbuyer. Therefore, volatility in food prices directly impacts the company’s operating costs. In recentperiod, prices of cocoa, sugar, coffee and other major ingredients used by Nestle has risenunprecedented due to speculations, weather conditions and rising oil prices. Volatility in commodityprices has also increased with average monthly price variation rising to 16.4% in 2006 to 2010, upfrom a 12.4% swing between 2000 and 2005. Inflationary trends are far bigger concern in Asia wheregroup caters to the price-sensitive customers. According to IMF report on Asia Pacific, headlineinflation in Asia has accelerated since October 2010, mainly owing to higher commodity prices. Forthe region as a whole, headline consumer price index (CPI) inflation accelerated to 4.5% in February2011, from about 4.25% in October 2010. India, Indonesia, and Vietnam have experienced relativelyhigher inflation figures. Besides, according to the US Department of Agriculture, the prices willcontinue to accelerate in the US during the first half of 2011, leading to a 2%-3% rise in inflation forthe year.Rising commodity prices presents dual challenge for Nestle. The company will face declinedconsumption of its products in case it raises its product prices, since cash-starved consumers willlook for value products available from private labels. However, if price pass-offs are negligible orinsufficient it will impact the company’s margins. With increasing competition from other major playerslike Unilever, which enjoys stronger market base in emerging countries, rising inflation will posechallenges for the company’s sales and profit growth.Nestlé SA Page 32© Datamonitor
  • Nestlé SATop CompetitorsTOP COMPETITORSThe following companies are the major competitors of Nestlé SAConAgra Foods, Inc.H.J. Heinz CompanyHershey Foods CorporationKellogg CompanySara Lee CorporationKraft Foods, Inc.The Coca-Cola CompanyPepsiCo, Inc.Groupe DanonePerfetti Van Melle SpANestlé SA Page 33© Datamonitor
  • Nestlé SACompany ViewCOMPANY VIEWA joint statement by Peter Brabeck Letmathe, Chairman of the Board and Paul Bulcke Chief ExecutiveOfficer of Nestle is given below. The statement has been taken from the companys 2010 annualreport.The aftershocks of the 2008 financial meltdown echoed through 2009, with recessions in manyeconomies, and continued through 2010 and into 2011, with concerns over what may be still tocome. This unpredictable and volatile macro-environment, particularly in the developed world, hasweighed heavily on consumer confidence. On the other hand, the emerging world has rallied quickly,demonstrating that many economies in Asia, Africa and Latin America are more robust, and lessdependent on the developed world than was perhaps thought. One might say that many emergingeconomies are indeed emerging, and doing so on their own terms, with their own priorities, ratherthan simply having a “me too” ambition to mimic the developed world. This must be a good thing,both for those economies and for global trade and development.This environment has required specific, individual country-by-country approaches from your Company,so that we could identify opportunities for growth in areas characterised by low levels of consumerdemand and also capitalise on buoyant demand in other markets. These approaches shared acommon strategic purpose, described in the Nestlé Roadmap, which identifies our operational andstrategic priorities. Our priorities were to ensure that we put consumers first; that we offeredoutstanding value propositions through our products and services, appropriate to our differentconsumer segments; that we achieved a high level of differentiation of our brands from those of ourcompetition; and that we continued to increase investment in innovation, in consumer communication,in operations and in distribution. And that we did this whilst driving improved operational efficiencyacross the business, simultaneous to achieving ever higher standards of process and product quality.This commitment lies at the heart of our performance in 2010, a year that saw Nestlé’s stock marketvaluation make it preeminent amongst its consumer goods peers and one of the leading companiesin Europe.Nestlé’s organic sales growth was 6.2%, including real internal growth (RIG) of 4.6% and pricing of1.6%. The strength of the Swiss franc relative to many other currencies had a 3.6% negative impacton reported sales, whilst divestitures, net of acquisitions, resulted in a fall of 0.6%. Overall, salesrose by 2.0% to CHF 109.7 billion. The Group’s EBIT rose to CHF 16.2 billion and the EBIT marginrose by 20 basis points to 14.8%. Our continuing operations had organic growth of 6.0% and RIGof 4.4%. Despite a higher level of investment in marketing and R&D, the EBIT rose to CHF 14.0billion and the EBIT margin by 30 basis points to 13.4%.The Group’s underlying earnings per share rose 7.4% to CHF 3.32, and by 10.3% in constantcurrencies. The reported net profit was CHF 34.2 billion, reflecting the profit on disposal of ourremaining holding in Alcon, as well as the underlying improvement in our performance.Nestlé SA Page 34© Datamonitor
  • Nestlé SACompany ViewThe operating cash flow was CHF 13.6 billion. The Group’s return on invested capital decreased by10 basis points to 15.5% including goodwill, but increased 100 basis points to 36.1% excludinggoodwill.In view of this performance, and your Company’s robust financial position, your Board isrecommending a dividend per share of CHF 1.85, an increase of 15.6% from last year. This will bepaid in 2011, and is in addition to the current CHF 10 billion share buy-back, split equally between2010 and 2011.The 2010 results, achieved in an exceedingly challenging environment, were not the reflection of asingle-minded focus on achieving short-term performance, but were achieved whilst investing forthe future and laying foundations to shape the future direction of the Company:• in January we announced the acquisition of the leading USA player in frozen pizza. This dealcomplements our existing leadership in frozen meals, frozen snacks and ice cream in the US market,enhances our distribution capabilities there and complements the know-how that we have developedin our pizza operations in Europe. On an annualised basis, we now have sales of over CHF 8 billionin mainstream retail frozen food and ice cream in North America, and clear leadership;• in August we closed the sale of Alcon. This transaction, together with the earlier divestments ofour Alcon shares, brought the total realised by Nestlé to USD 41 billion from an investment in 1977of USD 280 million. Your Board thanks the past and present Alcon management teams for theirgreat work over three decades in building such a successful business, which has enabled the creationof significant value for our shareholders. Our desire to ensure that our shareholders benefited fromthat value creation is reflected in our commitment to buy back and cancel approximatively CHF 40billion of our shares between 2005 and 2011;• in September we announced the creation of both Nestlé Health Science S.A. and the Nestlé Instituteof Health Sciences. Nestlé is the world’s leading Nutrition, Health and Wellness company: oneresponsibility of leadership is to be a pioneer. The creation of these two organizations will enableus to pioneer a new market between food and pharmaceuticals. They will develop the innovativearea of personalised health science nutrition to prevent and treat health conditions such as diabetes,obesity, cardiovascular and Alzheimer’s diseases. Nestlé Health Science will incorporate the NestléHealthCare Nutrition business, with CHF 1.7 billion of sales, including the 2010 acquisition of Vitaflo,focused on inherited metabolic disorders;• we also strengthened our position through acquisitions in different categories in both developedand emerging markets. These included, amongst others, Water in China, Culinary in Ukraine,Confectionery in Turkey and PetCare in North America.Acquisitions play a role in helping to accelerate the Group’s strategic priorities and to enhance itsgrowth profile, but our key driver of profitable growth is the organic development of our categoriesand geographic positions. We have made or announced major capital investments in the developedworld and in emerging countries such as India, China, Indonesia, the Philippines, the Middle East,Russia, Brazil, Mexico, Chile, Angola, the Democratic Republic of Congo, Ghana, Kenya andNestlé SA Page 35© Datamonitor
  • Nestlé SACompany ViewMozambique. In total, for 2010 and 2011 we have spent or committed CHF 4.3 billion to capitalinvestment in emerging countries.We foresee investment in the emerging world continuing to run at significant levels as we build onour position as the largest food and beverage company in emerging markets. Equally, we will continueto invest in North America, Western Europe and the developed economies of Oceania and Japan:we see many opportunities for growth in the developed world and are investing to ensure that weare well placed to benefit from them. Capital investment, expanding our capacity, is only one partof the story: we are supporting this with investment in capabilities, both personal and technical, inR&D, in distribution and, of course, in our brands. The strength of our balance sheet means that wedo not have to make either/or decisions when we are investing in our own business, acquiring anothercompany or driving our performance, but that we can judge each opportunity on its own merits. Thismeans that we will make appropriate investments and acquisitions in both developed and emergingmarkets, provided the financials stand up; and that we will drive short-term performance and, at thesame time, invest in the longer-term development of our brands and market positions.We are also using our financial resources and technical expertise to invest in countries andcommunities that are themselves contributing to our development. As an example, we are seekingto improve the security of supply of key ingredients, such as milk, green coffee and cocoa. In 2010,we announced our intention to invest CHF 500 million in a wide-ranging plan to address responsiblefarming, sourcing and consumption across the coffee supply chain. As part of this plan, we intendto deliver over two hundred million high-yielding plants to farmers over the next ten years. We arealso investing over CHF 100 million in an initiative in cocoa with similar objectives around thesustainability of the cocoa industry.These cocoa and coffee initiatives are just two examples of us using our financial resources to fundinvestment that will improve the quantity and quality of local ingredients that we are able to buy; thisin turn will contribute to increased economic prosperity in those countries; equally, we are expectingto make further such investments as our business continues to grow, both locally and around theworld. The benefits to our Company will be an improved security of supply of higher-quality rawmaterials and a reduced impact from the volatility of raw material prices.These investments highlight the founding philosophy of how we go about our business: we believethat companies are only sustainable and successful over the long term if they create value not justfor their shareholders but also for the societies in which they operate. We call this “Creating SharedValue”. We talk about this in more detail in this report, as well as our progress in relation to the UnitedNations Global Compact.Our commitment to Creating Shared Value and our principle-based approach to running our businessstand front-and-centre as we pursue our objective of being the reference for financial performancein our industry because we want to achieve this whilst also being trusted by all stakeholders. TheNestlé Model has the objective of every year achieving a high level of organic growth and improvingthe EBIT margin. In the last ten years we have averaged an annual 6.3% organic growth and anannual 30 basis point improvement in the reported EBIT margin. The benefit of our EBIT growingfaster than our organic sales is reflected in the improving trend in our cash-flow performance, whichNestlé SA Page 36© Datamonitor
  • Nestlé SACompany Viewis in turn reflected in the increased dividend paid to our shareholders, up 236% per share over thatsame 10-year time frame. And, in the last six years, your Company has been paying a dividend andcarrying out a significant share buy-back, which together total CHF 60 billion over that time.Comparability, transparency and the ability to be benchmarked are entry points to being the referencefor financial performance: your Board committed in 2010 to change our sales recognition policy witheffect from 2011 to facilitate comparisons of performance with our peers by bringing into line thoseof our key reported financial performance indicators that were not already directly comparable. Webelieve this will not only facilitate external-benchmarking of our performance, but that it will also bringeven closer alignment between internal targets and those value drivers that are of most importanceto our shareholders.There was one change to the Executive Board in 2010. Richard Laube decided to leave the Companyand was replaced as Head of Nestlé Nutrition and on the Executive Board by Doreswamy (Nandu)Nandkishore. Nandu, of Indian nationality, has been with Nestlé since 1989 and was previously theMarket Head of Nestlé Philippines and then the Head of Infant Nutrition globally. The Board thanksRichard for his contribution over his five years at Nestlé and particularly for his contribution to thesuccessful acquisition and integration of the three businesses which enabled Nestlé Nutrition todouble in size under his leadership.One new director will be proposed to shareholders at the 2011 Annual General Meeting. Ms. AnnVeneman, is a US citizen and former Executive Director of the United Nations Children’s Fund(UNICEF). She also served as Secretary of the United States Department of Agriculture (USDA)and is a member of the Nestlé Creating Shared Value Advisory Board, with extensive experiencein areas such as children’s health and education.The events of the last few years have been unprecedented in many ways, and have createdconsiderable uncertainty for many people in many countries around the world. Despite this, ourpeople, over 280 000 of them, have continued to show a wonderful level of commitment to their jobsand of enthusiasm for their Company. We would like to thank them on behalf of the Board and of allour fellow shareholders for their efforts in 2010. We would also like to welcome all those who havejoined Nestlé in 2010 and to wish them every success, in the knowledge that they have the fullsupport of their colleagues.We are starting 2011 with continued momentum, well placed to face uncertainties ahead, includingvolatile raw material prices. We are therefore confident of achieving the Nestlé Model in 2011: organicgrowth between 5% and 6% and an EBIT margin improvement in constant currencies.Nestlé SA Page 37© Datamonitor
  • Nestlé SALocations and SubsidiariesLOCATIONS AND SUBSIDIARIESHead OfficeNestlé SAAvenue Nestle 551800 VeveyCHEP:41 21 924 2111http://www.nestle.comOther Locations and Subsidiaries Societe pour lExportation des Produits Nestle Argentina S.A. Nestle S.A. Casilla de Correo 1459 Caixe Postal 1138 AR - C1000WAO Correo Central Rua Emilio MBidi 97-99 ARG Luanda AGO Nestle Osterreich GmbH Nestle Australia Ltd. Am Euro Platz 2 1 Homebush Bay Drive Wien Rhodes A 1120 New South Wales 2138 AUT AUS Nestle Industrial e Comercial Ltda. Nestle India Ltd. Avenida Avenida Doutor Chucri Nestle House Zaidan 246 Jacaranda Marg Sao Paulo M Block DLF City Phase II 04583 110 Gurgaon 122 002 BRA Haryana IND Nestle USA, Inc. Nestle UK Ltd 800 North Brand Boulevard St Georges House Glendale Croydon California CR9 1NR 91203 GBR USANestlé SA Page 38© Datamonitor