Press Release: Nestle: Full-year results 2025 and -5-

Key organic sales growth drivers by product category for 2025

-- Coffee posted high single-digit growth, led by pricing, with RIG impacted

by consumer elasticity effects. The largest growth contributor was

Nescafé soluble coffee.

-- Confectionery posted high single-digit growth, driven by pricing, with

negative RIG reflecting elasticity effects. KitKat and Dessert both

delivered double-digit growth.

-- PetCare delivered mid single-digit growth. Growth was RIG-led and broad

based across markets, led by Felix, Pro Plan, Gourmet and Purina ONE.

-- Sales in Nestlé Professional grew at a high single-digit rate,

driven by beverage solutions.

-- Infant Nutrition recorded positive growth, in line with subdued category

dynamics.

-- Food experienced a sales decline due to a challenging customer and

competitive environment in some markets.

Nestlé Health Science

2025 highlights: Nestlé Health Science delivered RIG-led growth for the year, driven by enhanced execution focus and portfolio optimization. Growth was broad-based across our three segments with strong performance in Orgain and Pure Encapsulations.

Q4-25 highlights: In Q4, growth was low single-digit driven by Medical Nutrition and strong consumption trends in Orgain and Pure Encapsulations. This was partially offset by softness in Garden of Life and the discontinuation of some private label Vitamins, Minerals and Supplements (VMS).

We have concluded the strategic review of our mainstream and value brands in VMS and are moving ahead with the process to engage with potential buyers for these parts of the business.

Segment performance summary for 2025

-- Organic growth was 3.2%, with 3.5% RIG and - 0.3% pricing.

-- Reported sales decreased by 2.8% to CHF 6.6 billion, driven by a negative

foreign exchange impact of 5.6%.

-- Market share losses showed an improved trend across all regions,

particularly within the VMS and Active Nutrition segments.

-- UTOP margin increased by 210 bps to 16.1%, driven by a reduction in

structural costs and improved gross profit margin.

Key organic sales growth drivers by product category for 2025

-- By geography, North America grew low single-digit, while Europe and other

regions delivered mid single-digit growth.

-- VMS reported positive growth, driven by premium brands Pure

Encapsulations and Solgar. This was partially offset by the

discontinuation of some private label activities and sales declines in

some mainstream and value brands.

-- Active Nutrition posted mid single-digit growth, which was driven by

RIG-led momentum from innovation and distributions gains in Orgain and

partially offset by Vital Proteins.

-- Medical Nutrition delivered mid single-digit growth across all segments,

with strong contributions from Resource and Compleat.

Nespresso

2025 highlights: Nespresso delivered OG of 6.0%, led by pricing and supported by positive RIG. North America remained the key growth driver, with double-digit growth, strong consumer acquisition and continued market share gains, supported by increased investments. In Western Europe, market conditions remained challenging.

Q4-25 highlights: In Q4, OG was 4.2%, with -0.6% RIG and 4.8% pricing. Growth was driven by the U.S., with continued double-digit OG led by RIG, albeit slowing compared to a very strong Q3. In Europe, the environment remains competitive, with broadly flat OG reflecting some price elasticity and the negative effect of some customer order phasing.

Segment performance summary for 2025

-- Organic growth was 6.0%, with 1.6% RIG and 4.4% pricing.

-- Reported sales were up versus the prior year at CHF 6.5 billion, despite

a negative foreign exchange impact of 4.6%.

-- Market share gains in North America continued to build strong momentum.

In Europe, share remained under pressure across key markets due to

competitive intensity.

-- UTOP margin declined by 210 bps to 17.9%, reflecting higher cost of goods

sold in H2, driven by inflation in coffee, tariffs as well as a marked

increase in marketing investment to support growth.

Key organic sales growth drivers for 2025

-- By geography, North America delivered strong double-digit growth, led by

RIG and fueled by successful brand campaigns, celebrity collaborations as

well as impactful innovations. In Europe growth was positive and led by

pricing.

-- By system, growth was driven by Vertuo. Out-of-home grew mid

single-digits, led by strong hotels, restaurants and cafés (horeca)

momentum and increased machine placements.

-- Digital transformation remained a key enabler. Deployment of the

Nespresso mobile app contributed to increasing basket value and purchase

frequency, Starbucks direct-to-consumer received strong reception, while

e-retail and marketplaces were key growth drivers of business to consumer

channel.

Nestlé Waters & Premium Beverages

2025 highlights: In Nestlé Waters & Premium Beverages, OG was 5.3%, with RIG of 2.6% and pricing of 2.7%. Performance was broad based across geographies, brands and sales channels. Growth was driven by Maison Perrier and Sanpellegrino as well as out-of-home channels.

Q4-25 highlights: In Q4, OG was 8.3%, with 4.5% RIG and 3.8% pricing. Q4-25 marked the fourth quarter of positive RIG and the strongest quarter of the year. Performance was broad based, helped by a softer comparison base, with particular strength in Americas and in premium beverages, led by Maison Perrier and Sanpellegrino.

We are moving ahead with the partial disposal of the business, and we have started engaging with potential partners.

Segment performance summary for 2025

-- Organic growth was 5.3%, with 2.6% RIG and 2.7% pricing.

-- Reported sales was up compared to prior year at CHF 3.5 billion, despite

the negative impact from foreign exchange of 5.2%.

-- Market share gains continued in S.Pellegrino and Perrier.

-- UTOP margin was unchanged compared to prior year at 9.1%, as increased

investment behind premium beverages brands was offset by operational cost

savings.

Key organic sales growth drivers for 2025

-- By geography, Americas posted high single-digit growth, AOA and Europe

delivered mid single-digit growth.

-- Premium beverages continued to outperform with strong double-digit growth,

driven by the international expansion of Maison Perrier, which is now

present in 80 markets, and the rollout of Sanpellegrino innovations in

CIAO! and Zero ranges.

-- Within waters, we saw solid growth from our international premium brands

including Maison Perrier, S.Pellegrino and Acqua Panna, partly offset by

a weaker performance from Perrier reflecting continued supply

constraints.

Category performance

Milk Prepared

Powdered products Nutrition dishes &

Total & Liquid & Ice & Health cooking

Group Beverages Water cream Science aids Confec-tionery PetCare

Sales

2025

(CHF m) 89,490 25,144 3,128 9,698 14,304 10,114 8,696 18,406

Sales

2024

(CHF m) 91,354 24,598 3,180 10,397 15,137 10,711 8,449 18,882

Real

internal

growth

(RIG) 0.8% 0.7% 1.0% 0.8% 0.1% - 0.2% - 0.7% 2.6%

Pricing 2.8% 6.6% 2.9% 0.5% 0.5% - 0.1% 8.8% - 0.4%

Organic

growth 3.5% 7.3% 3.9% 1.3% 0.6% - 0.4% 8.2% 2.2%

UTOP 2025

(CHF m) 14,389 4,324 288 2,229 2,825 1,977 1,107 4,000

UTOP 2024

(CHF m) 15,704 4,920 279 2,442 3,006 2,137 1,299 4,087

UTOP

Margin

2025 16.1% 17.2% 9.2% 23.0% 19.7% 19.5% 12.7% 21.7%

UTOP

Margin

2024 17.2% 20.0% 8.8% 23.5% 19.9% 19.9% 15.4% 21.6%

-- Powdered and Liquid Beverages was the largest category growth contributor,

with 7.3% organic growth, led by pricing, as we took actions to address

input cost inflation in coffee. Nescafé and Nespresso were the

leading contributors of growth. RIG remained positive, with only limited

elasticity observed following the price increases.

-- Confectionery organic growth of 8.2% was driven by pricing and led by

KitKat. Negative RIG reflects short-term volume softness resulting from

price-driven elasticity.

-- PetCare delivered 2.2% organic growth, helped by improved performance in

the fourth quarter of the year. Growth was led by wet and dry cat, partly

offset by weakness in dry dog. Market share grew globally, driven by

Europe.

-- Milk products and Ice cream posted 1.3% organic growth, led by solid

performance from dairy culinary brands, Nestlé and La Lechera.

-- Water delivered organic growth of 3.9%, led by good performance from

Maison Perrier and S.Pellegrino.

-- Nutrition and Health Science recorded organic growth of 0.6%, driven by

strong performance from NAN and Orgain, partially offset by weakness in

Gerber and illuma.

-- Prepared dishes and cooking aids reported slightly negative organic

growth of -0.4%, driven by category weakness in U.S. Frozen Foods and

partly offset by growth in Maggi.

Annex

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February 19, 2026 01:00 ET (06:00 GMT)