Nestle stock: Russia deconsolidation keeps 2026 outlook intact

Nestle stock traded at EUR 91.78 on Lang & Schwarz at 4:13 p.m. CEST on Friday, October 30, 2026. That was 1.57 percent above the EUR 90.36 quote cited in the company's October 27 report, a move that qualifies this second market-value update. The comparison is separate from the Xetra daily close.

Nestle's October 22 sales release confirmed that its Russian business was no longer consolidated from the end of September. The company said it remains the legal owner of the assets but no longer controls their management after the operations were placed under temporary external administration.

Russia reshapes reported figures

According to Nestle's October 22 release, the Russian operations represented about 2 percent of annual group sales and 3 to 4 percent of underlying trading operating profit and free cash flow. Nestle derecognized net assets of about CHF 1.6 billion and recorded a non-cash currency-translation charge of about CHF 1.4 billion.

The deconsolidation is expected to increase group net debt by about CHF 0.9 billion at year-end 2026. Nestle said the move had no impact on third-quarter or nine-month sales and would have a limited effect on underlying results for 2026.

Guidance remains unchanged

For 2026, management continues to target organic growth of 3% to 4%. It also expects the underlying trading operating profit margin to improve from 2025 and free cash flow to exceed CHF 9 billion.

The same release reported third-quarter organic growth of 4.0%, supported by 2.8% real internal growth and 1.1% pricing. Investors will weigh the stronger volume trend against the accounting and cash-flow effects from Russia as the group moves into the fourth quarter.

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