Mondelēz International has reported its Q1 results. Operating income margin was 13.1%, up 190 basis points; adjusted operating income margin was 16.8%, up 90 basis points; diluted EPS was $0.41, up 17%, while adjusted EPS was $0.53, up 6% on a constant currency basis. Net revenues, however, decreased 0.6% but organic net revenue grew 0.6%.

"We had a solid start to the year despite challenging market conditions," said Irene Rosenfeld, Chairman and CEO. "We delivered both top-line organic growth and strong margin expansion in the quarter, while also making critical investments for our future. We remain confident in and committed to our balanced strategy for both top- and bottom-line growth, continuing to focus on what we can control to deliver long-term value creation for our shareholders."

Gross profit margin was 39.4%, an increase of 10 basis points driven primarily by lower Restructuring Program implementation costs. Adjusted Gross Profit margin was 40.3%, a decrease of 20 basis points, driven by unfavourable mix impacts and higher input costs, partially offset by strong net productivity and improved pricing.

The company said it continues to expect organic net revenue to increase at least 1%in 2017 and adjusted operating income margin in the mid-16% range. The company also expects double-digit adjusted EPS growth on a constant currency basis. The company estimates currency translation would reduce net revenue growth by approximately 1% and adjusted EPS by approximately $0.023.