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Kraft Foods Inc. Reports 2005 Results And Issues 2006 Outlook; Announces Expanded Restructuring Program As Part Of Sustainable Growth Plan

Q4 2005 Kraft Foods Earnings Conference Call
January 30, 2006
5:00 PM ET

Kraft Foods Inc. to Host Webcast of 2005 Fourth-Quarter Results, January 30, 2006

Kraft Canada to Sell Certain Canadian Grocery Assets as Part of Sustainable Growth Plan

Kraft Foods Declares Regular Quarterly Dividend of $0.27 Per Share

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 Kraft Foods Inc. Reports 2005 Results And  Issues 2006 Outlook; Announces Expanded  Restructuring Program As Part Of Sustainable  Growth Plan

Kraft Foods Inc. (NYSE:KFT), a global leader in branded food and beverages, today reported 2005 results, announced an expanded restructuring program as part of its Sustainable Growth Plan, and issued its earnings outlook for 2006. Kraft's fourth quarter results (which included an additional week versus 2004) reflected solid momentum in several areas including better price realization, improved U.S. market shares, strong product mix and new product contributions. For the full year, the company delivered on its top-line growth and earnings guidance provided in October. Additionally, the company generated $4.0 billion in discretionary cash flow(1) plus divestiture proceeds in 2005 and returned approximately $2.6 billion in cash to shareholders through dividends and share repurchases. In providing its 2006 outlook, the company expects many of the cost pressures it faced in 2005 to continue in 2006 and has announced an expanded restructuring program as part of its Sustainable Growth Plan to aggressively reduce its cost structure.

"While 2005 was a difficult year for Kraft and several of the challenges we faced will continue in 2006, I am pleased by our progress in many areas, particularly in our fourth quarter U.S. market shares," said Roger K. Deromedi, Chief Executive Officer of Kraft Foods. "The actions we've taken over the past two years have improved our Brand Value propositions and are enabling us to drive out costs even more aggressively."

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