SINGAPORE - Mondelēz International, Inc. (NASDAQ:MDLZ) inaugurated its Regional Biscuit and Baked Snacks Lab and Innovation Kitchen in Singapore today, marking a significant enhancement to its product development and innovation capabilities in the Asia Pacific region. The new facility, backed by an investment of over $5 million, was officially opened by Mr. Chan Ih-Ming, Executive Vice President of the Singapore Economic Development Board.
This latest development expands the company's existing Singapore Technical Centre, which was established in 2006 and later expanded in 2018 to focus on gum and candy innovation. The new lab and kitchen are expected to drive creative development in the biscuits and baked snacks category, serving as a Centre of Excellence and regional hub for Southeast Asia, as well as Australia, New Zealand, and Japan.
Deepak Iyer, Executive Vice President & President AMEA of Mondelēz International, emphasized the company's dedication to pushing the boundaries of food innovation. The expansion aims to foster a collaborative environment for the creation of innovative products that align with the company's mission to offer "the right snack, for the right moment, made the right way."
The Singapore Technical Centre currently hosts expertise in various fields, including Product Development, Packaging (NYSE:PKG), Process Technology Development, and more. With the expansion, Mondelēz International aims to build upon these capabilities, upskilling talent, and evolving employee skills to further consumer-driven innovation and operational effectiveness.
The inauguration event highlighted the potential for capitalizing on the growing demand for premium and responsible snacking experiences in the region. Mr. Chan Ih-Ming noted Singapore's strategic position and vibrant food ecosystem as ideal for such endeavors.
Mondelēz International, with net revenues of approximately $36 billion in 2023, is a leader in the snack industry, boasting iconic brands like Oreo, Ritz, and Cadbury Dairy Milk. The company is a member of the S&P 500, Nasdaq 100, and Dow Jones Sustainability Index.
The information in this article is based on a press release statement from Mondelēz International.
InvestingPro Insights
Mondelēz International (NASDAQ:MDLZ) continues to demonstrate robust financial health, with real-time data reflecting a market capitalization of $90.64 billion, underscoring the company's significant presence in the global snack industry.
The company's commitment to innovation, as seen with the inauguration of its new facility in Singapore, is backed by solid financials, including a revenue of $36.14 billion over the last twelve months as of Q1 2024, marking a growth of 9.85%. This growth is indicative of the company's ability to expand and invest in new capabilities while still driving sales.
Investors monitoring Mondelēz's performance will note the company's P/E ratio stands at 21.33, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 17.05, reflecting market confidence in its earnings potential. The company's gross profit margin for the same period is a healthy 41.69%, showcasing its ability to maintain profitability amidst its expansion efforts.
An InvestingPro Tip suggests that the company's strategic investments in innovation hubs like the Singapore Technical Centre could further enhance its long-term growth prospects, potentially impacting future PEG ratios, which currently stand at 2.25. Another tip highlights the importance of the company's upcoming earnings date on July 23, 2024, as a key indicator for investors to watch, considering Mondelēz's track record of revenue growth and operational effectiveness.
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