Press Release: Nestle: Half-year results 2026: -4-

reinforcing Nespresso's premium lifestyle proposition.

Nestlé Waters & Premium Beverages

H1-26 operating performance

-- Organic growth was 5.1%, with RIG of 1.6% and pricing of 3.5%.

-- Reported sales were CHF 1.8 billion, with a negative impact of 6.7% from

foreign exchange movements.

-- UTOP margin improved 20 bps year-on-year to 9.5%. Profitability was

driven by growth leverage and cost focus, which more than offset

increased packaging and distribution costs and currency headwinds.

Q2-26 sales performance

Growth in Nestlé Waters & Premium Beverages accelerated, led by North America, key international brands and favorable weather in Europe.

-- Organic growth was 6.6%, with RIG of 2.2% and pricing of 4.4%.

-- International brands continued to lead growth. S.Pellegrino waters

delivered high single digit growth, which was broad based across

geographies. Sanpellegrino and Maison Perrier delivered strong

double-digit growth reflecting the international expansion of Maison

Perrier and the successful rollout of premium beverages innovations.

These included Sanpellegrino's CIAO! and ZERO and Maison Perrier's new

French Kiss probiotic water. Market share gains continue in our key

international brands.

-- By market, growth was broad based, led by an acceleration in North

America. In Europe, several key markets accelerated in Q2, driven by

improved retail execution as well as favorable weather in the region.

-- By channel, growth was led by retail, which benefited from strong

category momentum, premium mix and innovation. Out-of-home also

contributed positively.

Performance by product category

H1-2026 operating performance

Water &

Total Food & Premium

Group Coffee Petcare Nutrition Snacks Beverages

Sales

H1-2026

(CHF m) 43,109 12,126 8,933 8,339 11,930 1,781

Sales

H1-2025

(CHF m) 44,228 12,016 9,229 9,082 12,077 1,824

Real

internal

growth

(RIG) 1.5% 2.9% 1.8% - 1.3% 1.9% 1.6%

Pricing 2.1% 4.7% 0.9% 0.2% 1.8% 3.5%

Organic

growth 3.6% 7.5% 2.7% - 1.2% 3.7% 5.1%

UTOP

H1-2026

(CHF m) 7,081 2,304 1,943 1,651 2,077 169

UTOP

H1-2025

(CHF m) 7,287 2,403 2,037 1,877 2,039 170

UTOP

margin

H1-2026 16.4% 19.0% 21.8% 19.8% 17.4% 9.5%

UTOP

margin

H1-2025 16.5% 20.0% 22.1% 20.7% 16.9% 9.3%

UTOP - 10 bps - 100 bps - 30 bps - 90 bps 50 bps 20 bps

margin

YoY

Q2-2026 sales performance

Waters &

Food & Premium

Total Group Coffee Petcare Nutrition Snacks Beverages

Sales

Q2-2026

(CHF m) 21,792 6,124 4,538 4,355 5,752 1,023

Sales

Q2-2025

(CHF m) 21,627 6,008 4,525 4,444 5,636 1,014

Real

internal

growth

(RIG) 1.8% 2.2% 2.0% 0.9% 1.8% 2.1%

Pricing 1.9% 3.6% 0.8% 0.7% 1.5% 4.4%

Organic

growth 3.7% 5.8% 2.8% 1.7% 3.2% 6.6%

Coffee delivered 5.8% OG in Q2, led by pricing of 3.6%, which continues to ease, along with RIG of 2.2%. All Zones contributed broadly evenly to OG. Growth was led by Nescafé, Starbucks and Nespresso, partially offset by softness in Coffee mate.

Petcare OG was 2.8% in Q2 with RIG of 2.0%. OG improved in Zone Americas and Zone AOA, and was solid in Zone Europe. Both cat and dog contributed to growth. By brand, growth was led by Pro Plan, ONE and Felix.

Nutrition OG recovered to 1.7% in Q2 after declining in Q1. The improvement was driven by reduced drag from the infant formula recall, led by a strong recovery in Zone AOA. Adult nutrition and medical nutrition reported strong results, supported by brands such as Vital Proteins and Pure Encapsulations.

Food & Snacks recorded OG of 3.2%, driven by RIG. Growth was broad-based across segments, except for frozen food, with AOA the key driver by Zone. From a brand perspective, growth continued to be driven by our global-leading billionaire brands Maggi, KitKat and Milo.

(END) Dow Jones Newswires

July 23, 2026 01:00 ET (05:00 GMT)