No. 1 position worldwide in the stable and cash-generative branded food industry. Wide-ranging product portfolio, with at least 25 brands each exceeding CHF1 billion of sales annually. Extensive geographic diversification. Superior cash flow generation. Group profitability does not fully reflect Nestlé's scale and leading market positions. Sizable share buyback program. The ratings on Switzerland-based Nestlé S.A. and related entities, the largest player worldwide in the stable and cash-generative branded and packaged food industry, reflect the group's excellent business profile and strong geographic diversification. They also reflect Nestlé's very robust free cash flow generation and still very strong financial profile, which Standard&Poor's Ratings Services regards as less conservative than in the past. With consolidated sales of Swiss franc (CHF)
