Attached files

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8-K - FORM 8-K - Mondelez International, Inc.d8k.htm
EX-99.4 - REPORT OF THE FINANCIAL ADVISORS ON PROFIT ESTIMATE - Mondelez International, Inc.dex994.htm
EX-99.3 - REPORT OF THE REPORTING ACCOUNTANT - Mondelez International, Inc.dex993.htm
EX-99.1 - PRESS RELEASE - Mondelez International, Inc.dex991.htm

Exhibit 99.2

PROFIT ESTIMATE FOR THE KRAFT FOODS GROUP FOR THE YEAR ENDED 31 DECEMBER 2009

1. GENERAL

Kraft Foods made the following public statement on 3 November 2009 within its third quarter earnings release: “Kraft Foods increased its guidance for 2009 diluted earnings per share to at least $1.97 versus the previous expectation of at least $1.93”.*

Diluted earnings per share is defined as net earnings attributable to Kraft Foods divided by weighted average diluted shares. Weighted average shares for diluted earnings per share adds back incremental shares from assumed conversions of stock options, net of assumed share repurchases and LTIP shares to the weighted average shares of basic earnings per share.

The Kraft Foods Directors now estimate that the diluted earnings per share for the year ended 31 December 2009 will be higher than that indicated in the above guidance, and as a result updated their guidance in the following public statement on 12 January 2010:

“Kraft Foods increased its guidance for 2009 diluted earnings per share to at least $2.00 versus the previous expectation of at least $1.97.”

The statement regarding diluted earnings per share for the year ended 31 December 2009 constitutes a profit estimate (the “Profit Estimate”) for the purposes of the Takeover Code.

The Profit Estimate includes an estimate for certain costs in connection with Kraft Foods’ possible combination with Cadbury that are recognisable under US GAAP.

The Profit Estimate comprises diluted earnings per share rather than statutory earnings from continuing operations before income taxes, as diluted earnings per share is one of the primary profit measures historically used by Kraft Foods in their external reporting.

2. BASIS OF PREPARATION

The Profit Estimate has been prepared on a basis consistent with the accounting policies of Kraft Foods, which are in accordance with US GAAP and those which Kraft Foods anticipates will be applicable for the full year ended 31 December 2009.

The Kraft Foods Directors have prepared the Profit Estimate based on the unaudited interim condensed consolidated financial statements for the nine months ended 30 September 2009, the unaudited management accounts for the two months ended 30 November 2009 and an estimate of the results for Kraft Foods for the one month period ending 31 December 2009.