Vending

Danone lifts Q1 2023 sales on price hikes, raises guidance

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April 26, 2023

Danone SA lifted its Q1 2023 sales boosted by price increases and raised its 2023 guidance, according to an earnings report. Highlights include:

• Net sales rose 11.6% from €6.24 billion ($6.89 billion) in Q1 2022 to €6.96 billion ($7.68 billion) in Q1 2023, with pricing up 10.3%.
• Net sales rose 6.2% in Europe to €2.25 billion ($2.48 billion) driven by France, the U.K. and Poland in the comparative quarters.
• Sales rose 11.8% in North America to €1.7 billion ($1.96 billion).
• China, North Asia and Oceania sales rose 16% to €824 million ($909.47 million).
• Latin America sales rose 12.6% to €689 million ($760.46 billion).
• Rest of world sales rose 11.8% to €1.48 billion ($1.61 billion).
• Essential dairy and plant sales rose 9.3% to €2.76 billion ($3.05 billion).
• Specialized nutrition rose 12% to €2.14 billion ($2.36 billion).
• Waters sales rose 12% to €1 billion ($1.1 billion).

Shares traded $13.30 today against a 52-week range of $9.05-$13.48.

"This first quarter showed a strong start to year 2023, with sales up 10.5% on a like-for-like basis, supported by strong pricing and resilient volume/mix, up 0.2% compared to last year," Antoine de Sainte Affrique, CEO, said in the press release.

Full year guidance was upgraded to 4% to 6% sales growth.