# Mondelēz International (MDLZ) Q2 2025 Financial Results Summary
**Release Date:** July 29, 2025
Mondelēz International, Inc. (Nasdaq: MDLZ) reported its second quarter 2025 results, showcasing varying performance metrics compared to Q2 2024. Below is a summary of the company’s financial highlights for the period.
### Key Highlights
– **Net Revenues:**
– Increased by **7.7%** to **$8.984 billion**.
– **Organic Net Revenues** grew by **5.6%**.
– **Volume/Mix** decreased by **1.5 percentage points**.
– **Earnings:**
– **Diluted EPS** rose by **8.9%** to **$0.49**.
– **Adjusted EPS** was **$0.73**, down **14.5%** on a constant currency basis.
– **Cash Flow:**
– Year-to-date cash provided by operating activities totaled **$1.4 billion**.
– **Free Cash Flow** was reported at **$0.8 billion**.
– **Return to Shareholders:**
– The company returned **$2.9 billion** to shareholders during the first half of the year.
– Declared a quarterly cash dividend of **$0.50 per share**, an increase of **6%** from the previous quarter.
### Regional Performance
– **Latin America:**
– Net Revenues: **$1.194 billion** (decrease of **3.1%**).
– Organic Revenue Growth: **5.4%** (Volume/Mix: **-2.2 pp**, Pricing: **+7.6 pp**).
– **Asia, Middle East & Africa:**
– Net Revenues: **$1.821 billion** (growth of **14.7%**).
– Organic Revenue Growth: **8.6%** (Volume/Mix: **+0.7 pp**, Pricing: **+7.9 pp**).
– **Europe:**
– Net Revenues: **$3.412 billion** (increase of **18.7%**).
– Organic Revenue Growth: **12.5%** (Volume/Mix: **-1.3 pp**, Pricing: **+13.8 pp**).
– **North America:**
– Net Revenues: **$2.557 billion** (decline of **3.5%**).
– Organic Revenue Growth: **-3.4%** (Volume/Mix: **-2.4 pp**, Pricing: **-1.0 pp**).
### Operating Metrics
– **Gross Profit:**
– Gross Profit increased by **5.0%** to **$2.937 billion**.
– Gross Profit Margin decreased by **0.8 percentage points** to **32.7%**.
– **Operating Income:**
– Operating Income increased by **37.2%** to **$1.172 billion**.
– Operating Income Margin improved by **2.8 percentage points** to **13.0%**.
– **Net Earnings:**
– Net Earnings reached **$641 million**, up by **6.7%**.
### Year-to-Date Summary (June 30, 2025)
– Gross Profit: **$5.367 billion** (down **28.9%**).
– Operating Income: **$1.852 billion** (down **48.3%**).
– Net Earnings: **$1.043 billion** (down **48.2%**).
– Diluted EPS Year-to-Date: **$0.80** (down **46.3%**).
### Outlook for 2025
– Mondelēz International anticipates:
– **Organic Net Revenue** growth of approximately **5%**.
– Adjusted EPS to decline by about **10%** on a constant currency basis due to cocoa cost inflation.
– **Free Cash Flow** expected to exceed **$3 billion**.
### Additional Context
– Significant fluctuations in commodity prices, particularly cocoa, are impacting the company’s profitability.
– The company continues to navigate challenges posed by global economic conditions, including currency fluctuations and inflationary pressures.
This summary encapsulates the financial health and strategic direction of Mondelēz International for the second quarter of 2025, underscoring the company’s efforts to enhance shareholder value while contending with varying regional performances and market dynamics.
Here are the extracted tables in HTML format:
### Condensed Consolidated Statements of Earnings (in millions of U.S. dollars and shares, except per share data)
| For the Three Months Ended June 30, | 2025 | 2024 | For the Six Months Ended June 30, | 2025 | 2024 |
|---|---|---|---|---|---|
| Net revenues | $ 8,984 | $ 8,343 | Net revenues | $ 18,297 | $ 17,633 |
| Cost of sales | -6,047 | -5,546 | Cost of sales | -12,930 | -10,086 |
| Gross profit | 2,937 | 2,797 | Gross profit | 5,367 | 7,547 |
| Gross profit margin | 32.7 % | 33.5 % | Gross profit margin | 29.3 % | 42.8 % |
| Selling, general and administrative | -1,725 | -1,891 | Selling, general and administrative | -3,436 | -3,829 |
| expenses | Asset impairments and exit costs | -4 | -62 | ||
| Amortization of intangible assets | -38 | -37 | Amortization of intangible assets | -75 | -75 |
| Operating income | 1,172 | 854 | Operating income | 1,852 | 3,581 |
| Operating income margin | 13.0 % | 10.2 % | Operating income margin | 10.1 % | 20.3 % |
| Benefit plan non-service | -264 | 28 | Benefit plan non-service | -246 | 51 |
| (expense)/income | Interest and other expense, net | -206 | -100 | ||
| Earnings before income taxes | 855 | 850 | Earnings before income taxes | 1,400 | 3,532 |
| Income tax provision | -230 | -295 | Income tax provision | -384 | -927 |
| Effective tax rate | 26.9 % | 34.7 % | Effective tax rate | 27.4 % | 26.2 % |
| Loss on equity method investment | — | — | Loss on equity method investment | — | -665 |
| transactions | Equity method investment net earnings | 35 | 79 | ||
| Net earnings | 644 | 603 | Net earnings | 1,051 | 2,019 |
| less: Noncontrolling interest earnings | -3 | -2 | less: Noncontrolling interest earnings | -8 | -6 |
| Net earnings attributable to Mondelēz | $ 641 | $ 601 | Net earnings attributable to Mondelēz | $ 1,043 | $ 2,013 |
| International | |||||
| Per share data: | Per share data: | ||||
| Basic earnings per share attributable | $ 0.49 | $ 0.45 | Basic earnings per share attributable | $ 0.80 | $ 1.50 |
| to Mondelēz International | to Mondelēz International | ||||
| Diluted earnings per share attributable | $ 0.49 | $ 0.45 | Diluted earnings per share attributable | $ 0.80 | $ 1.49 |
| to Mondelēz International | to Mondelēz International | ||||
| Average shares outstanding: | Average shares outstanding: | ||||
| Basic | 1,295 | 1,343 | Basic | 1,298 | 1,346 |
| Diluted | 1,299 | 1,348 | Diluted | 1,301 | 1,352 |
### Condensed Consolidated Balance Sheets (in millions of U.S. dollars)
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $ 1,504 | $ 1,351 |
| Trade receivables | 3,528 | 3,874 |
| Other receivables | 1,103 | 937 |
| Inventories, net | 4,951 | 3,827 |
| Other current assets | 1,664 | 3,253 |
| Total current assets | 12,750 | 13,242 |
| Property, plant and equipment, net | 10,313 | 9,481 |
| Operating lease right-of-use assets | 761 | 767 |
| Goodwill | 24,344 | 23,017 |
| Intangible assets, net | 19,729 | 18,848 |
| Prepaid pension assets | 1,121 | 987 |
| Deferred income taxes | 415 | 333 |
| Equity method investments | 665 | 635 |
| Other assets | 922 | 1,187 |
| TOTAL ASSETS | $ 71,020 | $ 68,497 |
| LIABILITIES | ||
| Short-term borrowings | $ 1,664 | $ 71 |
| Current portion of long-term debt | 1,107 | 2,014 |
| Accounts payable | 9,975 | 9,433 |
| Accrued marketing | 2,423 | 2,558 |
| Accrued employment costs | 836 | 928 |
| Other current liabilities | 3,878 | 4,545 |
| Total current liabilities | 19,883 | 19,549 |
| Long-term debt | 18,116 | 15,664 |
| Long-term operating lease liabilities | 618 | 623 |
| Deferred income taxes | 3,550 | 3,425 |
| Accrued pension costs | 375 | 391 |
| Accrued postretirement health care costs | 98 | 98 |
| Other liabilities | 2,133 | 1,789 |
| TOTAL LIABILITIES | 44,773 | 41,539 |
| EQUITY | ||
| Common Stock | — | — |
| Additional paid-in capital | 32,280 | 32,276 |
| Retained earnings | 36,293 | 36,476 |
| Accumulated other comprehensive losses | -11,561 | -12,471 |
| Treasury stock | -30,819 | -29,349 |
| Total Mondelēz International | 26,193 | 26,932 |
| Shareholders’ Equity | ||
| Noncontrolling interest | 54 | 26 |
| TOTAL EQUITY | 26,247 | 26,958 |
| TOTAL LIABILITIES AND EQUITY | $ 71,020 | $ 68,497 |
