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So, how did the bakery industry perform in Q3 2024?
🟢 Revenue Growth: Most bakery companies achieved steady revenue growth (2%-7%) in Q3 2024, with a mix of price adjustments and volume growth. Strategic pricing and acquisitions were key drivers across companies like Mondelez and Grupo Bimbo.
🟢 Profitability: Profit results were mixed; while companies like Ingredion and AAK saw notable gains in operating profit due to efficiency initiatives, others, such as General Mills and Krispy Kreme, struggled with inflation-related cost pressures affecting margins.
🟡 Market dynamics: Economic challenges continued, with inflation impacting consumer spending in North America and Europe, while markets in Asia and Latin America showed resilience. Stable demand was observed in emerging markets, though mixed trends persisted overall.
🟡 Growth outlook: Companies expressed optimism for steady revenue growth through pricing, acquisitions, and expansion in premium segments. Mondelez and Orkla emphasized strategic investments in growing categories and markets to sustain this momentum.
🟢 Profitability outlook: Continued profit growth is anticipated but tempered by potential inflationary impacts. Companies like ARYZTA and Grupo Bimbo highlighted proactive cost management and efficiency improvements to protect margins.
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