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1、Half-Year ReportJanuaryJune 2025Nestl.We unlock the power of foodto enhance quality of life for everyone,today and for generations to come.Half-Year Report of the Nestl Group 20251Dear fellow shareholders,ForewordThe Half-Year Report contains certain financial performance measures not defined by IFR

2、S Accounting Standards(hereinafter“IFRS”),which are used by management to assess the financial and operational performance of the Group.They include among others:Organic growth,Real internal growth and Pricing;Underlying trading operating profit margin and Trading operating profit margin;Net financi

3、al debt;Free cash flow;and Underlying earnings per share as reported and in constant currency.Management believes that these nonIFRS financial performance measures provide useful information regarding the Groups financial and operating performance.The Alternative Performance Measures document publis

4、hed under defines these nonIFRS financial performance measures.IntroductionWe are executing our strategy to accelerate performance and transform for the future.We are accelerating our category growth and improving our market share,through better execution and increased investment,funded through a re

5、lentless pursuit of efficiency.These actions are already delivering results,with broadbased growth and a robust profit performance in the first half.Where we are investing to accelerate category growth,we are growing four times faster than the Group,and our six innovation big bets achieved sales of

6、over CHF 200 million in the first half.At the same time,we are addressing our 18 key underperforming business cells,and the aggregate growth gap to market has improved by a third.We are also taking decisive measures to strengthen our business in Greater China and focus our Vitamins,Minerals and Supp