General Mills publishes 2013 Annual Report
General Mills’ Annual Report, “Healthy Growth,” provides investors with a comprehensive look at our business activities and results in fiscal 2013.
The report is available for download on GeneralMills.com.
“General Mills had a good year in fiscal 2013, posting solid gains in sales and earnings,” said Ken Powell, chairman and CEO of General Mills, in a letter to shareholders that is included in the report.
“We completed a two-year period of significant investment that strengthened our business portfolio overall and meaningfully expanded our base in international markets.”
Our Annual Report highlights some facts about our fiscal 2013 performance and global business that you may not know:
• Total return to General Mills shareholders through stock price performance and dividends was 29 percent in fiscal 2013. Over the past five fiscal years, a challenging period for the economy and capital markets overall, the average annual return to General Mills shareholders was 13 percent.
• Our dividend rate grew 8 percent in fiscal 2013. General Mills and its predecessor firm have now paid dividends without interruption or reduction for 114 years. The chart below shows the growth trajectory of our dividend payment over the past five years.
• Many people still think of General Mills as just a U.S. cereal company. While ready-to-eat cereal is still the company’s largest global category, the following graphic from the report shows how much each of our categories contribute to the company’s overall net sales. Our five global categories include ready-to-eat cereal, convenient meals, snacks, yogurt, and super-premium ice cream.
• Speaking of cereal, the majority of cereal sales today occur outside of North America, and cereal continues to gain popularity in many international markets. In fact, per capita consumption of cereal is still low in many international markets, which we believe provides us with good opportunities to grow our cereal business around the world. Cereal Partners Worldwide, our joint venture with Nestle, holds a 22 percent value share of cereal sales outside North America.
• Nature Valley granola bars, launched almost 40 years ago, can be found in nearly 80 markets outside the U.S.
• From Wanchai Ferry dumplings in China to Progresso soup in the U.S., our convenient meals business has been growing at an 8 percent compound rate over the past couple of years.
• Yogurt consumption still varies in markets around the world, creating opportunities for geographic expansion.
• Häagen-Dazs ice cream is available in cafes and retail outlets in 80 markets around the world. General Mills recently launched a new global advertising campaign for Häagen-Dazs, featuring print, TV and online ads, inviting consumers everywhere into the House of Häagen-Dazs.
A team led by General Mills’ Investor Relations department publishes the report each year.
“Our team includes our colleagues in Corporate Finance as well as designers who help us describe our company’s performance in a simple, straight-forward style that also reflects the personality of General Mills,” says Penny Leporte, a finance director in Investor Relations who manages the project.
The publishing of “Annual Report 2013: Healthy Growth” marks General Mills’ 84th Annual Report in our 85 years of business.
For you history buffs, here’s a comparison of the cover of the first report, and the latest.