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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Nestlé S.A.    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
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Nestle S A : sells Yinlu business in China amid portfolio cleanup

11/25/2020 | 01:51am EST

ZURICH (Reuters) - Nestle has agreed to sell its Yinlu peanut milk and canned rice porridge businesses in China to Food Wise Co Ltd, a company controlled by the family of Yinlu founder Chen Qingshui, the world's largest packaged food group said on Wednesday.

It gave no financial terms for the deal, which it expected to close by the end of this year.

Nestle has been ditching underperformers and put North American waters and Yinlu under strategic review.

The deal covers all of Yinlu's operations, including its five factories in Fujian, Anhui, Hubei, Shandong and Sichuan. Yinlu brands had sales of 700 million Swiss francs ($768 million) in 2019.

The transaction lets Nestle focus on key categories in China: infant nutrition, confectionery, coffee, culinary, dairy and petcare, it said, adding it remained fully committed to the greater China region, its second-largest market with sales of nearly 7 billion Swiss francs in 2019.

As part of the transaction, Nestle will retain its ready-to-drink (RTD) Nescafe coffee business and distribute the products across most of the greater China region.

Yinlu will continue to manufacture the Nescafe RTD products for Nestle and distribute the products in several provinces. Yinlu will continue to manufacture and sell Nestea products under licence from Nestle.

($1 = 0.9114 Swiss francs)

(Reporting by Michael Shields; Editing by Riham Alkousaa and Stephen Coates)


© Reuters 2020
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Financials
Sales 2020 84 954 M 95 675 M 95 675 M
Net income 2020 11 769 M 13 255 M 13 255 M
Net Debt 2020 30 353 M 34 184 M 34 184 M
P/E ratio 2020 24,6x
Yield 2020 2,71%
Capitalization 280 B 315 B 316 B
EV / Sales 2020 3,66x
EV / Sales 2021 3,65x
Nbr of Employees 291 000
Free-Float 93,5%
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Technical analysis trends NESTLÉ S.A.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 115,94 CHF
Last Close Price 100,60 CHF
Spread / Highest target 29,2%
Spread / Average Target 15,2%
Spread / Lowest Target -6,56%
EPS Revisions
Managers and Directors
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
Paul Bulcke Chairman
Magdi Batato Head-Operations & Executive Vice President
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Stefan Palzer Chief Technology Officer & Executive VP
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