Vending

Danone lifts HY 2022 sales, earnings dip

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July 29, 2022

Danone raised its 2022 outlook after reporting a sales boost for the year's first half, according to an earnings report. Highlights include:

• Danone sales rose 7.4% on a like-for-like basis and 12.6% on a reported basis from 11.835 billion euros ($12.07 billion) to 13.325 billion euros ($12.57 billion).
• Net income fell from 1.106 billion euros ($1.13 billion) to 774 million euros ($789.2 million).
• EPS declined 29.8% from 1.63 euros ($1.66) to 1.14 euros ($1.16).
• Sales rose 8.9% in North America, driven by coffee creamers, yogurts and plant-based products.
• Sales rose 5.1% in Europe led by specialized nutrition and waters.
• Sales rose 3.3% in China, North Asia and Oceania led by specialized nutrition.
• Sales rose 12.3% in the rest of the world with all categories contributing.

Shares traded today at $11.02 against a 52-week range of $10.21-$15.38.

"This strong first half, with broad based progress despite an unprecedented external environment, is a testimony to the resilience, the focus and the engagement of all Danoners," CEO Antoine de Saint-Affrique said in the press release.

The company updated its 2022 guidance, predicting sales growth between 5% and 6%.