16.02.2023, 13:57
Nestle has no plans to completely wind down its business in Russia
Source: OREANDA-NEWS
OREANDA-NEWS The Swiss concern Nestle does not plan to completely wind down its business in Russia, the company's chief financial officer Francois-Xavier Roger said on Thursday.
"We have no plans to wind down all activities in Russia," Roger said during a conference call, answering a journalist's question.
In March, Nestle suspended the export of products from Russia and its import to Russia, with the exception of "socially significant" categories of products and exports to the CIS countries. In turn, Nestle CEO Mark Schneider, who also participated in the conference call, stressed that such a decision by the company does not run counter to its values.
"What we announced last March is consistent with our values and the importance of food, which, like medicines, are not subject to sanctions," Schneider said.
Earlier on Thursday, Nestle SA published a report that indicates that at the end of last year, the company's net profit decreased by 45% and amounted to 9.27 billion Swiss francs ($ 10 billion).
"We have no plans to wind down all activities in Russia," Roger said during a conference call, answering a journalist's question.
In March, Nestle suspended the export of products from Russia and its import to Russia, with the exception of "socially significant" categories of products and exports to the CIS countries. In turn, Nestle CEO Mark Schneider, who also participated in the conference call, stressed that such a decision by the company does not run counter to its values.
"What we announced last March is consistent with our values and the importance of food, which, like medicines, are not subject to sanctions," Schneider said.
Earlier on Thursday, Nestle SA published a report that indicates that at the end of last year, the company's net profit decreased by 45% and amounted to 9.27 billion Swiss francs ($ 10 billion).
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