Mondelez 2013 Annual Report Download - page 47

Table of Contents
Asia Pacific
2013 compared with 2012:
Net revenues decreased $212 million (4.1%), due to unfavorable foreign currency (4.7 pp) and lower net pricing (1.9 pp) partially
offset by favorable volume/mix (2.5 pp). Unfavorable foreign currency was due primarily to the strength of the U.S. dollar relative to
the Australian dollar, Indian rupee and Japanese yen. Lower net pricing was reflected in the region’s developed markets, partially
offset by higher net pricing in the region’s emerging markets, primarily in India, the Philippines and Thailand. Favorable volume/mix
was driven by the region
’s emerging markets, primarily India, China, the Philippines and Malaysia, as well as in the region’s
developed markets of Australia/New Zealand.
Segment operating income decreased $145 million (22.1%), due primarily to higher raw material costs, lower net pricing,
unfavorable foreign currency, higher other selling, general and administrative expenses (including investments in sales capabilities
and route-to-market expansion, the impacts of a gain on sale of property in India and prior-year proceeds from an insurance
settlement) and higher advertising and consumer promotion costs, partially offset by lower manufacturing costs, a 2012 asset
impairment charge related to a trademark in Japan, lower Spin-Off Costs and favorable volume/mix.
2012 compared with 2011:
Net revenues increased $300 million (6.2%), due to favorable volume/mix (4.0 pp) and higher net pricing (3.9 pp), partially offset by
unfavorable foreign currency (1.7 pp). Favorable volume/mix was driven by the region’s emerging markets, primarily China, India,
Thailand and the Philippines, as well as by the region’s developed markets of Australia/New Zealand. Higher net pricing was
reflected in the region’s emerging markets, primarily China, India, Indonesia and the Philippines, partially offset by lower net pricing
in the region’s developed markets. Unfavorable foreign currency was due primarily to the strength of the U.S. dollar relative to the
Indian rupee, partially offset by the strength of the Chinese yuan and Australian dollar relative to the U.S. dollar.
Segment operating income decreased $25 million (3.7%), due primarily to higher advertising and consumer promotion costs, higher
raw material costs, an asset impairment charge related to a trademark in Japan, Spin-Off Costs incurred, higher other selling,
general and administrative expenses (net of proceeds from an insurance settlement), and unfavorable foreign currency, partially
offset by higher net pricing, favorable volume/mix, lower manufacturing costs and lower Integration Program costs.
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For the Years Ended
December 31,
2013
2012
$ change
% change
(in millions)
Net revenues
$
4,952
$
5,164
$
(212
)
(4.1%)
Segment operating income
512
657
(145
)
(22.1%)
For the Years Ended
December 31,
2012
2011
$ change
% change
(in millions)
Net revenues
$
5,164
$
4,864
$
300
6.2%
Segment operating income
657
682
(25
)
(3.7%)