Nestle SA ( NSRGY.PK) Nine Months Sales Call October 20, 2011 09:30 am ET Executives Roddy Child-Villiers - IR Analysts David Hayes - Nomura Alain Oberhuber - MainFirst Bank James Edwards Jones - RBS Susanne Seibel - Barclays Capital Patrik Schwendimann - Zurcher Kantonalbank Jeremy Fialko - Redburn Partners Robert Waldschmidt - Bank of America - Merrill Lynch Warren Ackerman - Société Générale Jeff Stent - Exane BNP Paribas Thomas Russo - Gardner Russo & Gardner Pierre Tegner - Natixis Securities Simon Marshall - Lockyer Jefferies & Company Jon Cox - Kepler PresentationRoddy Child-Villiers
Good morning everyone. Welcome to the Nestlé nine months sales call. My presentation will be short as I think you are all aware of the trends in our business. I will start by taking the Safe Harbor is read. As you have seen from our press release, our top-line growth remains solid. We've seen a continued pick up in pricing and an easing in our real internal growth or volume as we expected. This Group dynamic between pricing and RIG is repeated in our primary reporting segments and all continued to deliver positive growth. This dynamic is the same also in most product categories, exceptions being Confectionery and PetCare. The RIG for Confectionery was unchanged from H1 and the pricing increased while as PetCare delivered both increased RIG and increased pricing. Currencies have remained a major headwind on our reported numbers. Our outlook is that we now expect to slightly outperform our long-term 5% to 6% organic growth range and we continue to strive for margin improvement in constant currencies.