Nestlé’s pet care business Purina reported low single-digit growth for 2024, contributing to overall growth alongside its coffee and confectionery sectors. The company’s full-year sales for its pet care segment totalled CHF 18.9 billion (€19.5 billion), a slight increase from 2023, with real internal growth (RIG) at 2.1% and organic growth at 2.7%.
Despite a challenging macroeconomic environment, Purina’s premium brands such as Purina ProPlan, Purina ONE, and Friskies drove growth. However, the company noted a slowdown in category growth, expecting 4% to 5% growth through 2025. Nestlé plans to expand its investment in therapeutic petfood, focusing on innovation and direct-to-consumer approaches.
Nestlé’s overall 2024 sales were reported at CHF 91.4 billion (€94.7 billion), a 1.8% decline from the previous year. The company attributed the decrease to soft consumer demand, hesitancy towards global brands, and pricing deceleration. Gross profit margin improved slightly to 46.7%, while net profit fell by 2.9% to CHF 10.9 billion (€11.3 billion).
In response to economic pressures, Nestlé implemented a CHF 2.5 billion (€2.6 billion) cost savings program, which is already yielding savings for 2025. CEO Laurent Freixe emphasised a clear roadmap for growth, including investment in product quality, innovation, and addressing underperformers.
Regional sales varied, with North America reporting CHF 25.3 billion (€26.2 billion) in sales, experiencing flat growth in pet care. Europe saw organic growth of 3.3%, while Asia, Oceania, and Africa achieved high single-digit growth, led by brands like Felix and Purina ONE. The company expects further growth in 2025, despite ongoing macroeconomic uncertainty.
