Mondelez International, Inc. (NASDAQ:MDLZ) Q3 2023 Earnings Call Transcript

And then the third one that is important for us is the expansion of our current brands into the cakes and pastries market. So we’ve launched Cakesters in the US or we have launched Airy Cake in China under Oreo, both very big successes. Things that are clearly an indication that our brands have the potential to play in this cakes and pastries space, and it’s a very nice addition and really extends the footprint and the consumers that we have. And then lastly, there is Chipita, which is the packaged croissant. We’re doing test and learns in three markets at the moment around the world. Not all the results are in, but we’ve seen, for instance, in a country like Brazil that there is a real interest. The segment is really not that established, but our test and learn was very positive, and we are now gearing up for a launch in the country.

I’m expecting in the other countries that we are doing some tests that we will get similar results because if you think about it, Give & Go was already very successful in places like Mexico or in the Middle East. So it’s a real sort of emerging market proposition, meal replacement at a very affordable price, reasonable quantity of product. So I think there’s going to be a real opportunity to make that a worldwide business for us. So those would be the four big ones at the moment from the adjacencies. So far, so very good, I would say. We’ll keep on informing you. But everything is going in line or in fact well above plan in this area.

Dirk Van de Put: I think with that we — Okay. Thank you. And with that, we’ve come to the end of our call. We feel good about the quarter. We feel good about the next quarter and about next year. Thank you for your interest and see you next quarter.

Luca Zaramella: Thank you, everyone.

Operator: This does conclude today’s program. Thank you for your participation. You may disconnect at any time.