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Nestlé: Q1 sales rise almost 6% (in CHF)

( - Nestlé has reported total Q1 2023 sales that are up 5.
6% to 23.5 billion Swiss francs, with a negative currency effect of 4% and a positive impact of of 0.3% from net acquisitions.

Organic growth reached 9.3%, with contributions from all regions and categories, but excluding price effects of 9.8%, reflecting significant cost inflation, there was a real fall in organic terms at -0.5%.

Management said that portfolio optimisation efforts and responsible price increases offset the pressures of two years of cost inflation.

For 2023, Nestlé confirms that it expects organic sales growth of 6% to 8% and a recurring operating margin of 17% to 17.5%. Recurring EPS at constant exchange rates is expected to increase by 6% to 10%.

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