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雀巢的營運策略

雀巢的營運策略

 

我們的策略核心著眼於永續的未來。我們的產品不斷進化以持續滿足消費者的需求,並以此規劃我們的業務組合,同時設定目標,持續為創造更健康的生活環境貢獻心力。

 

可負擔的營養補充品增加

7.1 %

頂級產品增加

12 %

高成長類別的有機增長

8.2 %

近期企業收購(2017-2021)增加

18.2 %

 

做出策略性選擇

我們集中精力和資源發掘食物的力量,使我們得以對環境、人類和寵物,以及我們的股東和其他利益相關者的生活發揮最大的正面影響力。開發對消費者和地球有益的產品讓我們得以成就善業,因此我們採取以下行動:

  • 運用我們近 160 年來在營養、健康和保健方面累積的專業知識,幫助人們、家庭和寵物擁有更快樂、健康的生活。
  • 藉由創造性探索、消費者見解、前瞻營養科學與卓越烹調技術,將獨特、優質的創新產品引入市場。
  • 以健康、美味、便利的產品滿足現代忙碌消費者的需求,實現更有意識的生活方式。
  • 提供更多植物性食品和飲料的選擇,讓我們的產品成為消費者飲食多樣化的首選。
  • 善用我們在世界各地長期以來的事業經營,為無論貧富的所有人提供實惠、安全和優質的營養品。
  • 盡可能以安全和保護環境的方式包裝和供應我們的產品。
  • 致力於實現遠大的永續發展目標,改善地球環境、推動社會進步和支持永續、健康的食品供應系統。

我們的長期價值創造模型根基於對營業額和利潤的平衡追求,同時提高資本效率。我們的價值創造由3個策略性支柱引導:

  • 透過持續創新實現成長。
  • 營運效率。
  • 條理分明和優先順序明確的資源和資本分配,包括透過收購和資產分割。

 

保持個位數中段的有機銷售成長

我們的成功奠基在維持多元化的業務組合,無論是地區性或產品類別皆然。我們敏捷因應不斷改變的環境,並開發全球、區域和本地的優質品牌,因此得以締造出色的長期財務表現。我們的目標是透過快速創新、提高市占率和加強業務組合管理,保持個位數中段的有機成長。

We compete in attractive and growing categories and prioritize investments to stay relevant and win in every segment and market in which we operate. Our digital technologies help us identify emerging consumer needs and business model opportunities so we can bring differentiated innovation to market fast. We partner with customers across the retail landscape to adapt our product portfolio and channel strategies, leveraging our global brands to customize new products for local tastes and preferences. In 2021, our investment in strategic drivers yielded the following:

  • High-growth categories of coffee, pet care, nutrition, water and nutritional health science, together representing 63% of sales, grew by 8.2%.
  • Plant-based food products generated sales of around CHF 800 million with organic growth of 16.8%.
  • 31 of our trusted brands, including Maggi, Milo and Nido, generated over CHF 1 billion each in annual sales at the retail level.
  • E-commerce sales represented 14.3% of sales and grew by 15.1%, and our digital spend increased to 51%.
  • Direct-to-consumer businesses represented 8.7% of sales and grew by 8.7%.
  • Our premium offerings represented 35% of sales and grew by 12%.
  • Emerging markets represented 41% of sales and grew by 7.8%.
  • Sales of affordable, accessible products - many nutrient-fortified - grew by 7.1% and accounted for 18.9% of emerging market sales.

We focus on categories and geographies with attractive dynamics where Nestlé has an ability to win. Since 2017, we have completed or announced more than 85 transactions (acquisitions and divestitures) with annual sales equivalent to around 20% of 2017 Group sales. In 2021, we completed the following:

  • Divestment of our Nestlé Waters North America brands.
  • Acquisition of the core brands of The Bountiful Company, including Nature's Bounty, Solgar, Osteo Bi-Flex, Puritan's Pride, Ester-C and Sundown.
  • Acquisition of Essentia, a premium functional water brand.
  • Acquisition of Nuun, a leader in functional hydration through effervescent tablets.

We take decisive action to restore growth and profitability when businesses underperform. In 2021, we implemented a turnaround plan for our Wyeth infant nutrition business in China.


提高營運效率

我們透過嚴格控管成本,提高各層面的業務營運效率推動企業成長。同時結合銷售成長,使我們能夠釋出資源用於再投資產品創新、品牌打造、數位化和永續倡議,並為我們的股東創造價值。

We continued to adapt our organization to be more agile, flexible and digitalized. In manufacturing, we continued to upgrade our operational footprint. In 2021, we reduced factory fixed overheads by 1.0%. In procurement, increased global buying combined with a reduced number of product specifications helped us reduce costs and complexity. Global buying through our three purchasing hubs was 63% in 2021. In our administration, we continued to simplify and standardize processes. The penetration of our shared service centers increased for the sixth consecutive year. Our five-quarter average working capital in % of sales was essentially stable at 0.1% at the end of 2021.


審慎配置資金

我們的首要任務是投資我們的事業,推動長期成長和發展,同時提高股東的投資回報並創造共享價值。我們審慎配置資金,仔細擬定財務政策,以利在成長、收益和靈活布局金融市場之間取得適當平衡。

Investing for the long term takes the form of R&D investment, brand support and capital expenditure to support organic profitable growth. We allocate these resources discerningly, focusing on projects with the highest potential to create economic profit. We are accelerating our capital expenditure plans for our fast-growing categories, particularly coffee and pet care.

We are disciplined when it comes to mergers and acquisitions in order to protect our Return on Invested Capital (ROIC). We have a thorough project governance in place, with clear accountability and targets. Potential acquisitions must have a good strategic and cultural fit with our organization and offer attractive financial returns. We look for creative ways to structure transactions and build partnerships that enhance our strategic options.

We have demonstrated our commitment to maintaining a high level of reinvestment into the business while at the same time continually increasing capital returns to shareholders. We do this by increasing our dividend year after year. Based on our 2021 performance, the Board of Directors has proposed a dividend increase of 5 centimes to CHF 2.80 per share to be paid in April 2022. This will be our 27th consecutive annual dividend increase. As a result of our strong free cash flow generation and business disposals, we continued to return excess cash to shareholders through share buybacks. The company's existing share buyback program terminated on December 31, 2021. In 2020 and 2021, Nestlé repurchased 123.1 million of its shares for a total amount of CHF 13.1 billion at an average price of CHF 106.08 per share, almost two-thirds of the anticipated CHF 20 billion existing program volume. A new plan commenced on January 3, 2022. Under this new program Nestlé plans to repurchase CHF 20 billion of its shares over the period 2022 to 2024. The company expects to buy around CHF 10 billion of shares in the first twelve months.

Investing in strategic and high-growth regions

Romont, Switzerland
Additional capacity for Nespresso Vertuo and Nestlé Professional coffee ranges
2022: site extension ready for production
CHF 270 million investment
Avenches, Switzerland
Over 80 countries served by this Nespresso production facility
2022: site extension ready for production
CHF 117 million investment
Shah Alam, Malaysia
New facility to produce up to 8,000 tonnes of plant-based food a year, supplying both food service and retail with Harvest Gourmet
2021: fully operational
CHF 35 million investment
Batang, Indonesia
New facility on 20 hectares of land to produce Bear Brand, Milo and Nescafé beverages
2023: ready for commercial production
CHF 115 million investment

 

創造共享價值:雀巢的營運方式

我們目光長遠、專注於結合全球資源與當地專業知識,為社會和股東創造可觀的價值。 我們相信企業應該發揮正向影響力,因此我們承諾大規模推動再生食品系統,進行轉型改革。雀巢踏上永續之旅,幫助恢復環境、改善農民生計,並提升社區和消費者的韌性和福祉。我們承諾2030年前實現溫室氣體排放量減半,以及2050年前實現溫室氣體淨零排放。