Letter to our shareholders

In 2015 we built on the consistent, sustainable performance of previous years, delivering growth in a difficult and volatile trading environment. Our 2015 performance was driven by the relevance of our Nutrition, Health and Wellness strategy, which represents our engine of value creation and which we continue to execute effectively.

Corporate Governance

Our approach to Corporate Governance is built upon a set of strong principles and values set by the Board of Directors for our management and employees. Our Board also provides our long-term strategy and appropriate oversight.


With our Nutrition, Health and Wellness strategy we support people who want to live a healthier lifestyle. Industry-leading research and development drives innovation and supports the constant renovation of our food and beverages portfolio. In addition our researchers are exploring the role of nutritional therapies to maintain or improve health and investigating how we can help people look after their skin.

Financial results

In 2015 we delivered profitable growth at the higher end of the industry in what is still a challenging environment. This profitable growth was on the back of consistent performances in previous years. Our organic growth of 4.2% was supported by increased momentum in real internal growth combined with continued margin improvement.

CHF 88,8 billion


CHF 13,4 billion

Trading operating profit


Organic growth


Trading operating profit margin


Real internal growth

+10 basis points

Trading operating profit margin (Constant currencies)

CHF 2,9

Earnings per share


Underlying earnings per share (Constant currencies)

CHF 14,3 billion

Operating cash flow

CHF 9,9 billion

Cash flow

CHF 2,25

Proposed dividend


Proposed dividend increase


Of total sales are from geographic area AMS


Of total sales are from geographic area EMENA


Of total sales are from geographic area AOA

The highlights

‘Good Food, Good Life’ is the commitment we make every day, in every part of the world. We have more than 2000 brands in our portfolio, from global icons to local favourites. We help people live more enjoyable, healthier lives, leveraging 150 years of passion for nutrition to bring them products and services they can trust.

The future

Our changing environment creates new challenges, for Nestlé and for society. The United Nations estimates there will be 9.6 billion people in the world by 2050, 70% of whom will live in urban areas. We believe we have a strong contribution to make as the world looks for ways to feed its growing population.


The Annual Report contains our Annual Review, the Corporate Governance Report and our Financial Statements. It is published alongside the summary report 'Nestlé in society: Creating Shared Value and meeting our commitments'.