• 2017 Danone Shareholders’ Meeting
  • Annual report 2016
    Annual report 2016
  • Danone Completes Acquisition of WhiteWave
    Danone Completes Acquisition of WhiteWave
  • First-quarter 2017 sales
    First-quarter 2017 sales
  • Todas

Un crecimiento fuerte, rentable y sostenible

Towards strong, profitable and sustainable growth

Danone targets overall like-for-like sales growth between 4% and 5%, including the following dynamics:

  • a strong like-for-like sales growth above +5% for Essential Dairy & Plant-based (EDP) NORAM, Specialized Nutrition, Waters and,
  • a like-for-like sales growth of between 3% and 4% for Essential Dairy & Plant-based (EDP) International.

Danone aims for a recurring operating margin of over 16% in 2020, driven primarily by:

  • a structural improvement of margin in all categories, via more discipline and a stricter resource allocation process to guarantee profitable growth;
  • the Protein program, which will generate over €1 billion savings by 2020, with at least €300 million net of reinvestment falling through into margin expansion by 2020 (€100 million per year from 2018);
  • a $300 million synergies program generated in 2020 at recurring operating income level through the acquisition of WhiteWave.

Finally, Danone will continue to focus on growing its free cash flow, which will contribute to financial deleverage with an objective of a ratio of Net debt/EBITDA below 3 in 2020; Danone is committed to reaching a ROIC level around 12% in 2020.