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London, Oktober 24, 2026 – Nestlé reported stronger than expected third quarter sales, demonstrating resilience even after excluding its seized Russian operations.
The Swiss food giant posted organic growth of 4 percent, surpassing analyst expectations of 3.4 percent.
Volumes rose 2.8 percent, well above forecasts of 1.5 percent, while pricing contributed 1.1 percent, slightly below projections.
The company reaffirmed its full year outlook of 3 to 4 percent organic growth, signaling confidence in its global demand base.
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The results come just weeks after Moscow ordered the seizure of Nestlé’s Russian business, which had accounted for roughly 2 percent of group sales.
The Kremlin’s move forced Nestlé to derecognize CHF 1.6 billion in assets and absorb a CHF 1.4 billion non cash charge tied to currency translation.
Net debt is expected to rise by CHF 900 million this year as a result.
CFO Anna Manz stressed that while the exclusion of Russia affects reported sales and cash flow, it does not alter organic growth metrics, which remain robust.
Investors responded positively, with Nestlé shares climbing 1.3 percent in pre-market trading.
Analysts noted that the company’s ability to deliver stronger volumes despite geopolitical headwinds reflects underlying consumer demand and effective portfolio management.
Since taking the helm in September 2025, CEO Philipp Navratil has pursued a strategy of streamlining operations, reducing exposure to lower margin categories such as ice cream and water through joint ventures.
The approach mirrors moves by rivals Unilever and Reckitt, who have also sought to sharpen focus on higher-growth segments.
Navratil acknowledged progress but insisted more work lies ahead, remarking, “I am pleased with our progress, but I am not satisfied. There is much more for us to do to deliver the potential of the business.”
The seizure in Russia underscores the growing vulnerability of multinational corporations operating in politically tense jurisdictions.
For Nestlé, the episode highlights the risks of balancing global expansion with exposure to volatile markets.
Yet the company’s ability to maintain momentum despite the setback suggests resilience in its core portfolio and adaptability in shifting consumer landscapes.
Nestlé’s performance offers a broader lesson for global consumer goods firms geopolitical shocks can disrupt operations, but disciplined strategy and strong demand fundamentals remain decisive in sustaining growth.
