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Danone lifts Q3 2023 sales, raises full year expectations
October 26, 2023
Danone S.A., a Paris-based global provider of dairy and plant-based products, waters and nutrition, lifted its Q3 2023 sales with varying business segment and geographic results and raised its full year expectations, according to a press release.
Highlights include:
- Net sales rose 6.2% on a like-for-like basis to €6.9 billion (47.27 billion) in Q3 2023 over the prior year period.
- Essential dairy products fell 10.1% from €3.8 billion ($4.01 billion) to €3.45 billion ($3.64 billion) in the comparative quarters.
- Specialized nutrition fell 3% from €2.07 billion ($2.18 billion) to €2.13 billion ($2.24 billion).
- Waters rose 1.8% from €1.33 billion ($1.4 billion) to €1.36 billion ($1.43 billion).
- Europe sales rose 5.4% from €2.27 billion ($2.39 billion) to €2.39 billion ($2.52 billion).
- North America sales fell 3.7% from €1.81 billion ($1.91 billion) to €1.74 billion ($1.83 billion).
- China, North Asia and Oceania sales fell 4.6% from €940 million ($990,6 million) to €896 million ($944.4 million).
- Latin America sales rose 2% from €757 million ($797.8 million) to €771 million ($812.6 million).
- Rest of world sales fell 29.3% from €1.55 billion ($1.63 billion) to €1.1 billion ($1.16 billion).
Sales traded today at $11.86 against a 52-week range of $9.65 to $13.48.
"Eighteen months after the launch of Renew Danone, the benefits of our strategy are starting to show," CEO Antoine de Saint-Affrique said in the press release. "This quarter is the seventh consecutive quarter of delivery, with sales up 6.2% on a like-for-like basis, notably supported by the sequential improvement in volume/mix."
Full year sales growth is now expected between 6% and 7%, versus 4% and 6% expected previously.
