Kraft Heinz Affirms Full Year 2022 Guidance, Reduces Leverage Target and Details Long-term Algorithm

The Kraft Heinz Company has affirmed its full year 2022 guidance, announced a reduced leverage target and outlined additional details on its long-term algorithm.

“We have successfully completed two phases of our ongoing transformation – resetting our foundation and implementing our operating model,” said Chief Executive Officer and Chair of the Board of Directors Miguel Patricio. “With the right people, portfolio and capabilities in place, we now look ahead to accelerating profitable growth. Achieving greatness will also include a focus on personalized marketing and a strong emphasis on innovation. I am excited about what we have accomplished so far and how it positions us for the future, but we still have work to do.”

The Company has a plan to drive Organic Net Sales growth of two percent to three percent through its three strategic pillars of growth, with each anticipated to contribute one percentage point of growth with the following targets:

• North America Zone Retail, which represents about two-thirds of total Organic Net Sales and growth from one percent to two percent, which is in line with industry growth before the pandemic.
• Foodservice, which represents around 15 percent of total Organic Net Sales and growing to mid-to-high single digits.
• Emerging Markets Retail within the Company’s International Zone, which represents around 10 percent of total Company Organic Net Sales and is growing into double digits.