European Consumer Staples: Barclays Consumer Wrap

Research evidence excerpt

European Consumer Staples: Barclays Consumer Wrap

Barclays | European Consumer Staples

Summary

•• Laurence previews Heineken Q2 expecting emerging markets strength to offset Americas

weakness, highlighting regional mix as key driver and signalling balanced performance

despite softer demand trends in parts of the portfolio, Link

•• Alexander expects Novonesis to deliver around 7% Q2 organic sales growth, pointing to

continued momentum across key segments and resilient demand underpinning steady top-

line expansion, Link

•• Pallav flags Mondi Q2 earnings step-down is not fully priced in ahead of results, flagging

downside risk and negative near-term sentiment as weaker fundamentals emerge, Link

•• Setu notes Mowi's exit from Canada East operations, emphasising a strategic shift to core

assets to improve efficiency, streamline operations, and enhance long-term profitability, Link

•• Alexander forecasts Glanbia roughly 8% Q2 pro forma organic sales growth, supported by

solid demand trends and improving execution across categories, Link

•• Warren sets Nestle expectations at 2% real internal growth as the benchmark for Q2, noting

modest volume expectations and signalling cautious outlook amid mixed consumer trends,

Link

•• Laurence views Pernod-Ricard Q4 to mark a transitional close to a volatile year, with

stabilising trends but limited near-term catalysts as the company resets expectations, Link

•• Laurence highlights AB InBev as competitive but resilient Q2, suggesting the company

remains well-positioned despite macro pressures and ongoing industry competition, Link

•• Warren draws attention to the Haleon's new LIME division, suggesting it could reshape

growth drivers and provide fresh strategic direction within the portfolio, Link