Zone Asia, Oceania and sub-Saharan Africa (AOA)Sales CHF 14.3 billion The developed markets had another good yearOrganic growth + 0.5% with growth across most categories. In Japan,Real internal growth – 0.1% the main growth drivers in beverages wereTrading operating profit margin 18.4% Nescafé Dolce Gusto and the barista machineTrading operating profit margin for Nescafé soluble coffee. KitKat remained the – 80 basis points highlight in confectionery, driven by innovation in novel flavours and formats. Growth in OceaniaThe Zone’s performance was seriously impacted by was driven by confectionery, mainly KitKat, andthe Maggi noodles issue in India. by Nescafé soluble coffee and Nescafé Dolce Gusto. Also, there were benefits from improved The emerging markets improved gradually, with management of trade terms.China showing increased momentum towardsthe end of the year. In China, our reinvestment in The Zone’s trading operating profit marginNescafé soluble coffee and Nescafé ready-to-drink remained strong and accretive to the Group,products led the growth together with Totole in despite the withdrawal and destruction costsculinary and Shark wafers in confectionery. Hsu Fu of noodles product in India. The evolutionChi delivered a solid performance in a very difficult in favourable input costs enabled increasedeconomic environment. Yinlu improved but needs investment in consumer facing marketingmore time. In India, we halted production and sales support.of Maggi noodles for five months while we dealt withallegations made against the product. We beganthe return to the market in November. Vietnam andIndonesia were the highlights among the other Asianmarkets. Sub-Saharan Africa delivered solid growthdespite the pressure from lower oil prices in severalcountries. South Africa performed well.Zone AOA 2014* 2015 Proportion of total sales (%) RIG (%) OG (%)In millions of CHF 4 239 4 260 29.7% +0.5% 2 713 2 494 17.4%ASEAN markets 5 761 5 692 39.7%Oceania and Japan 2 079 1 892 13.2%Other Asian marketsSub-Saharan AfricaPowdered and Liquid Beverages 5 059 4 979 34.7% – 0.1%Milk products and Ice cream 4 957 4 932 34.4%Prepared dishes and cooking aids 2 244 1 969 13.7%Confectionery 1 969 1 947 13.6%PetCareTotal sales 563 511 3.6% 14 792 14 338 100.0%Trading operating profit 2 834 2 632 18.4%Capital expenditure 586 482 3.4%* 2014 figures have been restated – see note on page 40.Nestlé Annual Review 2015 47
Nestlé WatersSales CHF 7.6 billionOrganic growth + 6.7%Real internal growth + 6.7%Trading operating profit margin 10.8%Trading operating profit margin +110 basis pointsNestlé Waters delivered good broad-basedorganic and real internal growth in allgeographies, driven by category dynamics andinnovation. There was a strong performancefor our flagship brand for healthy hydration,Nestlé Pure Life. The premium internationalbrands Perrier and S.Pellegrino continued theirgood growth momentum, creating additionalvalue in the category. Complementing theseperformances, our strong local brands alsocontributed good growth, especially PolandSpring in the United States, Buxton in the UnitedKingdom, Erikli in Turkey, and Sta.María in Mexico. The improvement in the trading operatingprofit margin was due to a combination of volumegrowth, continuous cost improvement andlower input costs that also allowed for increasedinvestment behind our brands.Nestlé Waters 2014 2015 Proportion of total sales (%) RIG (%) OG (%)In millions of CHF 2 190 1 949 25.5% +6.7% +6.7% 3 780 4 131 54.2%Europe 1 420 1 545 20.3%United States and Canada 7 390 7 625Other regions 100.0%Total sales 714 825 308 432 10.8%Trading operating profit 5.7%Capital expenditure48 Nestlé Annual Review 2015
Nestlé NutritionSales CHF 10.5 billion The increase in trading operating profit marginOrganic growth + 3.1% was driven by strict control of fixed costs, lowerReal internal growth +1.4% input costs, the results of portfolio managementTrading operating profit margin 22.6% and lower impairment charges. At the sameTrading operating profit margin time, there was increased investment behind +110 basis points our brands.Nestlé Nutrition’s solid organic growth wassupported by an increased real internal growthmomentum during the year. Infant formulaincluding growing-up milks, delivered goodgrowth. Wyeth Infant Nutrition remained the keydriver with its premium brand illuma. There was apositive contribution from the emerging markets,in particular China and Mexico. In the developedmarkets, Spain and Germany were the highlights,helped by successful innovation in NAN. Babyfood delivered broad-based growth. Infant cerealsperformed well, with share gains in particularin Latin America and the United States. Toughcomparisons and softer pricing due to lower inputcosts and moderating category growth acrossAsia had an impact.Nestlé Nutrition 2014* 2015 Proportion of total sales (%) RIG (%) OG (%)In millions of CHF 2 366 2 062 19.7% +1.4% +3.1% 3 975 3 688 35.3%EMENA 4 574 4 711 45.0%AMS 10 915 10 461AOA 100.0%Total salesTrading operating profit 2 343 2 361 22.6%Capital expenditure 393 489 4.7%* 2014 figures have been restated – see note on page 40.Nestlé Annual Review 2015 49
Other businessesSales CHF 14.1 billion good growth, notably from the allergy portfolioOrganic growth + 5.3% (Alfaré, Althéra, Alfamino) across all geographiesReal internal growth + 3.7% and particularly in China. Growth was alsoTrading operating profit margin 15.7% supported by Vitaflo’s geographic expansion andTrading operating profit margin the continuing roll-out of the product range. Novel – 330 basis points Therapeutic Nutrition made strategic investments in Seres Therapeutics, a leading microbiomeThe growth for Nestlé Professional was driven by therapeutics company, while generic competitionemerging markets, particularly Turkey, the Middle impacted Lotronex.East Region, Russia, Mexico, the South AsiaRegion and China. Western Europe continued to Nestlé Skin Health delivered good growth.face challenges in the out-of-home environment. There were very good results in Aesthetic &The strategic growth drivers, beverage solutions Corrective, driven by Restylane and Azzalure, andand savoury flavours, continued to perform well. in Self-medication, driven by Cetaphil cleansersThe divestment of Davigel was completed in and moisturisers, the acne treatment BenzacNovember. and by continued roll-out of line extensions. The Prescription business successfully launched Nespresso delivered solid growth in all regions the rosacea treatment Soolantra and the higherin 2015, affirming its strong position in European strength acne drug Epiduo Forte, but facedmarkets and continued to build momentum in pressure from some generic entrants in the USAsia and the Americas. In the USA, sales of the and in Europe. There was an impact from therecently launched VertuoLine system accelerated business’ decision to take a more conservativeon the back of the new varieties of machine approach to its prescription rebate policy in theand Grands Crus, and the new communication US which required a one-off charge in the thirdcampaign. Global growth was supported by quarter.innovations and significant investments in thecoffee, machine and service pipeline, as well The trading operating profit margin of theas in sustainability activities, brand awareness Other businesses was impacted by the rebateand geographic expansion in new and existing adjustments in Nestlé Skin Health, the effect ofmarkets. the strong Swiss Franc on Nespresso and the generic competition on Lotronex. These impacts Nestlé Health Science reported good growth, overshadow good underlying profit improvementdriven by strong performances in Europe, AOA, across the businesses.and in the USA. Consumer Care was the growthengine, driven by Boost and Carnation BreakfastEssentials and the continuing roll-out of theMeritene range in Europe. Medical Nutrition sawOther businesses (a) 2014* 2015 RIG (%) OG (%)In millions of CHF 13 925 14 114 +3.7% +5.3%Total sales 15.7% 3.7%Trading operating profit 2 651 2 221Capital expenditure 573 518* 2014 figures have been restated – see note on page 40.(a) Mainly Nespresso, Nestlé Professional, Nestlé Health Science and Nestlé Skin Health.50 Nestlé Annual Review 2015
Principal risks and uncertaintiesGroup Risk Management food safety or other compliance issue couldThe Nestlé Group Enterprise Risk Management have a negative effect on Nestlé’s reputation orFramework (ERM) is designed to identify, brand image. The Group has policies, processes,communicate, and mitigate risks in order to controls and regular monitoring (dedicatedminimise their potential impact on the Group. dashboard with relevant KPIs) in place to preventNestlé has adopted a dual approach in identifying such events.and assessing risks. A top-down assessment isperformed at Group level once a year to create The success of the Nestlé Group depends on itsa good understanding of the company’s mega- ability to anticipate consumer preferences and torisks, to allocate ownership to drive specific offer high-quality, appealing products. The Group’sactions around them and take any relevant steps business is subject to some seasonality, andto address them. A bottom-up assessment occurs adverse weather conditions may impact sales.in parallel and focuses on the global risk portfolioin the businesses/corporate functions. It involves The food industry as a whole is faced with thethe aggregation of individual assessments by global challenge of increasing obesity. The Groupthe Zones, Globally Managed Businesses and makes all its products available in a range of sizesall markets. It is intended to provide a high-level and varieties designed to meet all needs andrisk mapping and allows Group Management to all occasions.make sound decisions on the future operationsof the company and ensure that any risk growing Nestlé is dependent on the sustainablein importance within the organisation is captured supply of a number of raw materials, packagingand addressed in Nestlé’s ERM agenda. Nestlé materials and services/utilities. Any major eventengages with external stakeholders to better triggered by natural hazards (drought, flood, etc.),understand issues that are of most concern to change in macroeconomic environment (shift inthem with the aim of assessing any potential production patterns, biofuels, excessive trading,gaps between internal and external perception etc.), resulting in input price volatilities and/orof risks and their impact on reputation. capacity constraints, could potentially impactRecommendations from stakeholders are Nestlé’s financial results. The Group has policies,reported on in the Nestlé in society report along processes, controls and regular monitoring inwith the issues stakeholders consider to be place to (if ever possible) anticipate such eventsmaterial to the company. and adequately mitigate against them. An annual compliance risk assessment is In particular, Nestlé manages risks andperformed in the Group Compliance Committee. opportunities related to climate change and waterRisk assessments are the responsibility of line resources proactively given the impact it maymanagement; this applies equally to a business, have on agriculture and food production systems.a market or a function, and any mitigating Details of the Group’s climate change and wateractions identified in the assessments are the strategies are available in Nestlé’s response toresponsibility of the individual line management. If the CDP Climate Change and Water InvestorGroup-level intervention is required, responsibility Information Requests and also in the Nestlé infor mitigating actions will generally be determined society report.by the Executive Board. The Group’s liquidities/liabilities (currency The results of the Group ERM are presented fluctuation, interest rate, derivatives, and/orannually to the Executive Board and to the Audit hedging, pension funding obligations/retirementCommittee, and conclusions reported to the benefits, banking/commercial credit, and costBoard of Directors. of capital, etc.) could be impacted by any major event in the financial markets. Again, Nestlé hasFactors affecting results the appropriate risk mitigation measures in place.Nestlé’s reputation is based on consumers’trust. Any major event triggered by a serious Nestlé is dependent on sustainable manufacturing/supply of finished goods forNestlé Annual Review 2015 all product categories. A major event in one of Nestlé’s key plants, at a key supplier, contract manufacturer, co-packer, and/or 51
Factorieswarehouse facility could potentially lead to a Americas (AMS)supply disruption and impact Nestlé’s financialresults. Business continuity plans are established Argentina 7 PL P PL PL PL L PLand regularly maintained in order to mitigate Boliviaagainst such an event. Brazil 1L L L L PL L Canada The Group depends on accurate, timely Chile 23 P L P L P L P L P L P L P Linformation and numerical data from key software Colombiaapplications, without disruption, to enable Costa Rica 10 P L P L P L P L P L P L P Lday-to-day decision making. Cuba Dominican Republic 7 PL L PL PL PL PL L The Group is subject to environmental regimes Ecuadorapplying in all countries where it operates and has Guatemala 4 PL L PL PL PL PL PLput controls in place to comply with legislation Mexicoconcerning the protection of the environment, Nicaragua 1 L L L PL L L Lincluding the use of natural resources, release Panamaof air emissions and waste water, and the Peru 3 L PL PL L L Lgeneration, storage, handling, transportation, Trinidad and Tobagotreatment and disposal of waste materials. United States 2 L L PL L PL L L Uruguay Nestlé is subject to health and safety regimes Venezuela 3 PL L PL PL PL PL Lin all countries where it operates and hasprocedures in place to comply with legislation 3 PL L L L PL L Lconcerning the protection of the health andwelfare of employees and contractors. 11 P L P L P L P L P L P L P L Our Group companies are party to a variety of 1 PL L PL L L L Llegal proceedings arising out of the normal courseof business. The relevant companies believe that 1 L L PL L PL L Lthere are valid defences for the claims, and suchcompanies intend to defend any such litigation. 1 PL L PL PL PL PL L Nestlé has factories in 85 countries and sales 1 PL L PL L L L Lin 189 countries around the world. Security,political instability, legal and regulatory, fiscal, 76 P L P L P L P L P L P L P Lmacroeconomic, foreign trade, labour and/orinfrastructure risks could potentially impact 1 PL L L L PL L LNestlé’s ability to do business in a country orregion. Events such as infectious disease could 5 PL L PL PL PL PL PLalso impact the Group’s ability to operate.Any of these events could lead to a supply The figure in black after the P Powdered and Liquid Beveragesdisruption and impact Nestlé’s financial results. country denotes the number P WaterRegular monitoring and ad hoc business of factories. P Milk products and Ice creamcontinuity plans are established in order to P Local production (may P Nutrition and Health Sciencemitigate against such events. P Prepared dishes and represent production cooking aids One of the most valuable assets of Nestlé is in several factories). P Confectionerythe Group-wide geographical and product L Imports (may, in a few P PetCarecategory spreads, which represent a tremendous particular cases,natural hedge. represent purchases Nestlé Annual Review 2015 from third parties in52 the market concerned).
Europe, Middle East and North Africa (EMENA) Asia, Oceania and sub-Saharan Africa (AOA)Algeria 2 PL P PL L L L Angola 1 L L PL L L LAustria 1 PL L PL L PL L L Australia 9 PL L PL PL PL PL PLBahrain 1 L PL L L L L L Bangladesh 1 PL P PL PL PBelgium 1 L PL L L L L L Cameroon 1 PL PL L PLBulgaria 2 L L PL L L PL L Côte d’Ivoire 2 PL L PL L PCzech Republic 3 L L L L PL PL L Democratic Republic L L PL L PL L of Congo (DRC)Denmark 1 L L L L PL L L 1Egypt 3 PL PL PL PL P PL Ghana 1 PL L PL PL L LFinland 3 L L PL PL PL L L Greater China Region 30 P L P L P L P L P L P L P LFrance 21 P L P L P L P L P L L P L India 7 PL P PL PL PLGermany 17 P L P L P L P L P L P L P L Indonesia 4 PL L PL PL PL PL LGreece 3 PL PL PL L L L L Japan 3 PL L PL L PL PL LHungary 2 PL L L L L PL PL Kenya 1 PL L PL PL PL LIran 2 L P P L P L L L L Malaysia 7 PL L PL PL PL PL LIraq 1 L P L L L L L New Zealand 2 L L L L PL PL PLIreland 1 L L PL PL L L L Nigeria 3 PL P PL PL PL PIsrael 9 PL L PL PL P PL L Pakistan 4 PL P PL PL LItaly 13 P L P L P L L P L P L P L Papua New Guinea 1 PL PL L PL LJordan 1 L PL L L L L L Philippines 6 PL L PL PL PL L LLebanon 2 L PL L L L L L Republic of Korea 1 L PL L L L L LMorocco 1 PL L PL PL PL L L Senegal 1 L L L L PLNetherlands 1 L L PL PL L L L Singapore 2 PL L PL PL PL L LPoland 8 PL PL PL PL PL PL PL South Africa 7 PL L PL PL PL PL PLPortugal 3 PL L PL PL L L L Sri Lanka 1 PL PL L PL LQatar 1 L PL L L L L L Thailand 7 PL PL PL PL PL L PLRepublic of Serbia 2 L L PL L PL PL L Vietnam 5 PL PL PL L PLRomania 1 PL L L L L PL L Zimbabwe 1 PL PL PL PL LRussia 7 PL L PL PL PL PL PLSaudi Arabia 7 L PL L L L L LSlovak Republic 1 L L L L PL L LSpain 11 P L P L P L P L P L P L P LSweden 2 PL L L PL L L LSwitzerland 12 P L P L P L P L P L P L LSyria 1L LLLLTunisia 1 PL PL L LTurkey 2 PL PL PL L P PL LUkraine 3 PL L L L PL PL LUnited Arab Emirates 2 P L P L P L L P L P L LUnited Kingdom 9 PL PL PL PL L PL PLUzbekistan 2 L P PL PL L LNestlé Annual Review 2015 53
Corporate Governanceand Compliance54 NNeesstltéléAAnnnnuuaallRReevviieeww 2015
Corporate Governance Our Annual Report includes both our financial and nonfinancial commitments. It gives insightsOur approach to Corporate Governance is built into how material issues affect our financialupon a set of strong principles and values set performance and how our long-term strategyby the Board of Directors for our management relates to our ability to create value. We recognizeand employees. Our Board also provides our that this is central to our business model andlong-term strategy and appropriate oversight. gives us our license to operate. For our companyIt establishes the appropriate tone at the to be successful over the long term and createtop; oversees management and long-term value for shareholders, we must also create valueperformance; reviews financial planning and audit for society.process; ensures risk oversight and compliance;sets compensation and performance goals; and Share capital distribution by geographymanages director nomination, evaluation andsuccession planning. It oversees our economic, P Switzerland 35.21%social and environmental sustainability. P United States 26.80% P United Kingdom But good Corporate Governance is not an P Germany 5.78%end in itself. It is a means to create market P Belgium 4.79%confidence and helps focus on the long term. P Luxembourg 4.47%Therefore, Nestlé has adopted best practices in P Japan 3.06%governance including an intense dialogue with P Canada 2.46%our shareholders in our roadshows, investor P China 2.33%meetings, shareholder surveys, analyst and P France 2.02%engagement calls, Chairman’s Roundtables and P Others 1.84%bilateral meetings. We actively engage with the 4.05%providers of capital and other stakeholders toensure our sustainable long-term growth. Share capital by investor type, long-term evolution (a) 100% Our Chairman’s and Corporate GovernanceCommittee liaises between the Chairman 80%and the full Board, acts as a consultant bodyto the Chairman and CEO, and regularly 60% Institutions 79%reviews aspects of our Governance. It also 40%advises on financial matters. 20% Private Shareholders 21% Our Nomination Committee ensures our 0% 1999 2003 2007 2011 2015managerial sustainability and oversees thelong-term succession planning of the Board, (a) Percentage derived from total number of registered shares.its independence and self-evaluation. It Registered shares represent 57.6% of the total share capital.ensures an appropriately wide net is cast Statistics are rounded, as at 31.12.2015.on key successions. 55 Our Compensation Committee sets ourremuneration principles and prepares theproposals for remuneration. In 2015, weimplemented the new Swiss ‘say on pay’ law bothin letter and in spirit. Our proposals were adoptedwith large majorities of our shareholders. OurCompensation Report explains our compensationsystem and pay-outs. It is submitted annually toan advisory vote of our shareholders. Our Audit Committee oversees internal andexternal audit, financial reporting, compliance andrisk management, and paid special attention tocyberlaw and quality this year.Nestlé Annual Review 2015
Board of Directors of Nestlé S.A.Helmut O. Maucher Board of DirectorsHonorary Chairman of Nestlé S.A. at 31 December 2015David P. FrickSecretary to the Board Peter Brabeck-Letmathe (1, 2, 4) ChairmanKPMG SA Geneva branch (1) Paul Bulcke (1, 2)Independent auditors Chief Executive Officer Andreas Koopmann (1, 2, 3, 4) Vice Chairman Peter Brabeck-Letmathe Chairman, Georg Fischer AG Paul Bulcke Beat Hess (1, 2) Former Group Legal Director, Royal Dutch Shell plc. Renato Fassbind (1, 2, 5) Vice Chairman, Swiss Re AG Daniel Borel (1, 3) Co-founder, Logitech International S.A. Steven G. Hoch (1, 4) Partner, Brown Advisory, LLC Naïna Lal Kidwai (1, 5) Former Chairperson, HSBC Group of Companies in India Jean-Pierre Roth (1, 3) Chairman, Geneva Cantonal Bank Ann M. Veneman (1, 4) Former Executive Director, UNICEF, and Secretary, U.S. Department of Agriculture Henri de Castries (1, 5) Chairman and CEO, AXA Eva Cheng (1, 5) Former Chairwoman and CEO, Amway China & Southeast Asia Ruth K. Oniang’o (1) Professor of Food Science and Nutrition Patrick Aebischer (1) President of the Swiss Federal Institute of Technology Lausanne (EPFL)(1) Term expires on the date of the For further information on the Board of Annual General Meeting 2016. Directors, please refer to the Corporate(2) Chairman’s and Corporate Governance Report 2015. Governance Committee.(3) Compensation Committee. Nestlé Annual Review 2015(4) Nomination Committee.(5) Audit Committee.56
Andreas Koopmann Beat Hess Renato FassbindDaniel Borel Steven G. Hoch Naïna Lal KidwaiJean-Pierre Roth Ann M. Veneman Henri de CastriesEva Cheng Ruth K. Oniang’o Patrick AebischerNestlé Annual Review 2015 57
Executive Board of Nestlé S.A.Executive Board of Nestlé S.A.at 31 December 2015 1 Paul Bulcke 8 Marco Settembri Chief Executive Officer EVP, Nestlé Waters 9 François-Xavier Roger 2 Luis Cantarell EVP, Chief Financial Officer EVP, Europe, Middle East, 10 Magdi Batato North Africa EVP, Operations 3 Laurent Freixe 11 Peter Vogt EVP, United States of Deputy EVP, America, Canada, Latin Human Resources America, Caribbean 12 Martial Rolland 4 Chris Johnson Deputy EVP, EVP, Nestlé Business Nestlé Professional Excellence 13 Heiko Schipper 5 Patrice Bula Deputy EVP, EVP, Strategic Business Units, Nestlé Nutrition Marketing and Sales 14 David P. Frick 6 Wan Ling Martello SVP, Corporate Governance, EVP, Asia, Oceania, Compliance and Corporate sub-Saharan Africa Services 7 Stefan Catsicas EVP, Innovation Technology, Yves Philippe Bloch Research and Development Corporate SecretaryEVP: Executive Vice President For further information on theSVP: Senior Vice President Executive Board, please refer to the Corporate Governance Report 2015.58 Nestlé Annual Review 2015
13 12 11 14 2 48 7 10 5 9 63 1Nestlé Annual Review 2015 59
Compliance interactions with key stakeholders and taking care of the Group’s interests as custodians ofQuality and trust is the very foundation on which Nestlé’s compliance and reputation across allwe build our business. It includes our behaviour businesses in a Market. Specific focus areas ofas a responsible company. Compliance at Nestlé the Corporate Compliance programme includedincludes following applicable laws and our own the roll-out of our enhanced anti-corruptioncommitments in our principles and policies. programme; emphasis on execution andCompliance helps us build trust, with our efficiency of compliance processes and tools;employees, as well as with our shareholders and renovated training tools for Code of Conduct,our other stakeholders. This is what makes our anti-corruption, security and anti-bribery; andefforts value adding and sustainable. improved internal and external communication. Our Corporate Business Principles, our Our efforts were recognized by the joint bestManagement and Leadership Principles and industry score for Compliance in this year’s Dowour Code of Business Conduct include our Jones Sustainability Index.commitments to integrity. But we recognize thatcompliance is not a matter of ever more detailed Nestlé Annual Review 2015policies and checklists. We cannot regulatehonesty, but we are convinced that people knowwhat honesty is. We aim to provide guidance toour people to do the ‘right’ thing even in situationswhich are not specifically regulated. We provide the necessary training in ourManagement School in Rive-Reine, at in-persontrainings in the Markets, as well as throughour e-learning tools. We monitor compliancethough our corporate functions, our internal auditfunction and our external auditors. Through ourCARE programme, which relies on independentexternal auditors, we regularly assess specificaspects of our compliance. Our Integrity Reporting System and our ‘TellUs’ system allow us to address complaints fromemployees and external stakeholders. In 2015,250 CARE audits were conducted and gapsaddressed. 1400 complaints from employees and370 complaints from suppliers and other thirdparties were investigated and remedial actiontaken. While Compliance remains a leadershipresponsibility, management is supported by ourdedicated Corporate Compliance function andall functions engaged in our holistic, risk andprinciples based compliance programme. OurCompliance Committee defines the framework,facilitates coordination and provides guidanceand best practices. Market Compliance Officersand committees ensure a consistent approachacross the Group and help identify localcompliance priorities. In 2015, we reemphasized the role ofour Market Heads to focus on increasing60
Shareholder informationStock exchange listing 7 April 2016 © 2016, Nestlé S.A., Cham and VeveyAt 31 December 2015, Nestlé S.A. shares 149th Annual General Meeting, (Switzerland)are listed on the SIX Swiss Exchange, Zurich Beaulieu Lausanne,(ISIN code: CH0038863350). Lausanne (Switzerland) The Annual Report contains forwardAmerican Depositary Receipts (ISIN code: looking statements which reflectUS6410694060) representing Nestlé S.A. 8 April 2016 Management’s current views andshares are offered in the USA by Citibank, Last trading day with entitlement to dividend estimates. The forward lookingN.A., New York. statements involve certain risks and uncertainties that could cause actualRegistered Offices 11 April 2016 results to differ materially from thoseNestlé S.A. Ex-dividend date contained in the forward lookingAvenue Nestlé 55 statements. Potential risks andCH-1800 Vevey (Switzerland) 13 April 2016 uncertainties include such factors astel. +41 (0)21 924 21 11 Payment of the dividend general economic conditions, foreign exchange fluctuations, competitiveNestlé S.A. (Share Transfer Office) 14 April 2016 product and pricing pressures,Zugerstrasse 8 2016 First quarter sales figures and regulatory developments.CH-6330 Cham (Switzerland)tel. +41 (0)41 785 20 20 18 August 2016 This Annual Report is published in 2016 Half-yearly Results German, English and French. TheFor additional information, contact: English version is binding for theNestlé S.A. 20 October 2016 content of the Annual Report ofInvestor Relations 2016 Nine months sales figures Nestlé S.A.Avenue Nestlé 55CH-1800 Vevey (Switzerland) 16 February 2017 The brands in italics are registeredtel. +41 (0)21 924 35 09 2016 Full Year Results trademarks of the Nestlé Group.fax +41 (0)21 924 48 00e-mail: [email protected] 6 April 2017 Visual concept and design 150th Annual General Meeting, Nestec Ltd., Corporate IdentityAs to information concerning the share Beaulieu Lausanne, & Design, with Gavillet & Cieregister (registrations, transfers, Lausanne (Switzerland)dividends, etc.), please contact: PhotographyNestlé S.A. (Share Transfer Office) Valérie Lhomme (products),Zugerstrasse 8 Trevor Ray Hart (consumers),CH-6330 Cham (Switzerland) Alberto Venzago (boards),tel. +41 (0)41 785 20 20 Harmen Hoogland, Bruno Jorge,fax +41 (0)41 785 20 24 Remo Nägeli, Franz Rindlisbachere-mail: [email protected] IllustrationsThe Annual Review is available online Helge Hjorth Bentsenas a PDF in English, French and German.The consolidated income statement, balance Productionsheet and cash flow statement are also brain’print GmbH (Switzerland)available as Excel files. Paperwww.nestle.com This report is printed on Lessebo Smooth White, a paper produced from well-managed forests and other controlled sources certified by the Forest Stewardship Council (FSC).Nestlé Annual Review 2015 61
Search
