---
title: "Mondelez CEO Delivers First Full-Year Results: E-commerce in China Up Nearly 80%, Explains New Global Strategy"
description: "In 2018, the first full year for CEO Dirk Van de Put, Mondelez reported strong growth, with e-commerce sales in China up nearly 80% and overall sales up mid-single digits. The company's new strategy focuses on consumer-centric marketing, operational excellence, and a cultural shift toward long-term growth."
author: "New Distribution"
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published: "2019-02-15"
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# Mondelez CEO Delivers First Full-Year Results: E-commerce in China Up Nearly 80%, Explains New Global Strategy

> In 2018, the first full year for CEO Dirk Van de Put, Mondelez reported strong growth, with e-commerce sales in China up nearly 80% and overall sales up mid-single digits. The company's new strategy focuses on consumer-centric marketing, operational excellence, and a cultural shift toward long-term growth.

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**"2018 was my first full year as CEO."** Recently, Mondelez, the maker of Oreo and Cadbury snacks, released its 2018 results, and the time he "took office" became the "opening remarks" of CEO Dirk Van de Put at the earnings meeting.
Foodinc noted that in this earnings meeting for Wall Street analysts, Dirk Van de Put not only explained how he changed the way Mondelez views its business and even its corporate culture, but also spoke extensively about its China business. It is reported that with the fourth-quarter results finalized, the China business has recorded six consecutive quarters of growth.
**Three Pillars of New Strategy**
Dirk Van de Put said he took office in November 2017 and is "pleased" with the company's short-term achievements. In the first half of 2018, Mondelez introduced a strategy different from the past, and in the second half began executing it, leading to good results and laying the foundation for momentum in 2019.
He said the new strategy aims to create more growth by focusing on three aspects:
> First, marketing and sales are more consumer-centric;
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> Second, insist on optimizing the company's demand through excellent execution, while improving efficiency and reducing costs;
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> Third, Mondelez's corporate culture has undergone significant changes, shifting from a focus on short-term costs to a focus on long-term growth.
"The combination of these three aspects will create growth." He believes this will ultimately yield long-term financial returns, including organic net revenue growth of more than 3%, high single-digit adjusted earnings per share growth, dividend growth faster than earnings per share, and annual free cash flow of more than $3 billion.
He described **2018 as a year of "strong growth" for Mondelez, including accelerated revenue growth through volume and price mix, with emerging markets contributing 6% revenue growth,** adjusted earnings per share recorded double-digit growth, bringing Mondelez's five-year average EPS growth to 18%, while generating $2.9 billion in cash and returning $3 billion to shareholders.
**Emphasizes Local Brands**
Looking ahead to 2019, Dirk Van de Put pointed out that this will be the first year of increased investment after Mondelez defined its growth agenda, with increased investment in advertising and promotion expenses and market deepening.
For example, Mondelez increased advertising and promotion spending for its Indian chocolate business, which is growing at double digits, and its Chinese biscuit business, which is growing at mid-single digits. In addition, he said Mondelez has made further investments in R&D and quality, including starting a new R&D center in India in the fourth quarter.
He said that unlike the past when Mondelez focused more on international brands such as Oreo, Milka, and belVita, the new strategy now is to achieve a better balance between international and local brands. "The combination of the two can create stronger growth than focusing only on international brands," he said.
**Biscuits and Gum in China**
When discussing excellent execution, especially in sales channels, Dirk Van de Put cited the Chinese market as an example, noting that **Mondelez achieves excellent execution in e-commerce in China through cooperation with partners. Last year, Mondelez's online sales in China recorded double-digit growth, while overall sales revenue recorded mid-single-digit growth.**
According to the introduction by Mondelez's Chief Financial Officer, who also attended the meeting, Mondelez's China business has achieved positive growth for the sixth consecutive quarter, gaining more market share in both biscuits and gum.
In response to further questions from Wall Street analysts about the Chinese market, Dirk Van de Put said that although Mondelez faces competition in China like other companies, he is "quite pleased" with the company's performance in China, as all its categories are growing.
He pointed out that by launching the new "Stride Fruity" product, Mondelez "gained considerable share" in the gum category. In chocolate, through the launch of Milka "Swirl Cup," Mondelez's share also increased by 0.5 percentage points. "In the biscuit business, we face the most local competitors, yet Mondelez's share, both online and offline, still gained 1 percentage point." He finally broke his earlier more general statement, revealing that e-commerce business in China grew nearly 80% last year.
Foodinc also noted that according to Dirk Van de Put's later interview with CNN, he is trying to build "the world's best snack company," and Mondelez can achieve this goal through its own brands or through acquisitions. "We certainly won't go too far," he said. Mondelez will still look at opportunities in biscuits, chocolate, and energy bars, and as consumers seek healthier snacks, Mondelez will offer more healthy options.
Source: Foodinc
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