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We need to accelerate organic growth to achieve our 2020 growth target of “Double Emerging Markets”
• 2015 vs 2014 yielded 11% YOY Growth (Excl JV) with a 29% YOY Growth (Inc JV)
• 2016 vs 2015 saw growth slowing to 4% YOY growth (Excl JV) and 8% YOY (Inc JV)
• Past 2YR organic growth CAGR is 7%, need 11% to hit 2020 plan – with JV’s then on top to deliver +13%
required
($mm's) 2015 FX Comparable NSV 2016 FX Comparable NSV
vs PY vs PY vs PY vs PY
2015 B/(W) $ B/(W) % 2016 B/(W) $ B/(W) %
Actual Change Change Actual Change Change
Global Snacks 570 105 19% 590 51 9%
2020 growth goal
Global Breakfast 1,197 89 7% 1,129 21 2%
Total EM Excl JV 1,767 194 11% 1,718 71 4% +11%
AP JV 335 335 340 99 30%
Total EM Incl JV 2,102 529 29% 2,058 171 8% +13%
• Key next step is to do same analysis on Volume and include Volume Growth as a key EM KPI
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