Consistent progress and solid delivery in 2022 Set for profitable growth in 2023


Paris, February 22, 2023

  • Net sales reached €27,661m in 2022, up +13.9% on a reported basis and +7.8% on a like-for-like (LFL) basis, with price up +8.7%, and volume/mix down -0.8%; proforma volume/mix up +0.2% excluding EDP Russia 
  • Q4 sales growth reached +7.0% LFL 
    • +9.7% in North America led by International Delight, Activia, Oikos and Silk 
    • +4.0% price-led growth in Europe driven by Specialized Nutrition 
    • +3.4% in China, North Asia & Oceania led by Specialized Nutrition and EDP 
    • +9.8% in Rest of the World, led by price, with all categories and geographies contributing 
  • Recurring operating margin at 12.2% while reinvesting in A&P, product superiority and capabilities 
  • Resilient earnings in a context of transformation: recurring EPS at €3.43, up +3.6% from last year 
  • €2.1bn free-cash-flow with focus on cash conversion cycle and capital allocation 
  • Proposed dividend of €2.00 
  • Next stage of Danone’s sustainability journey unveiled, focused on impact 
  • 2023 guidance in line with mid-term targets: like-for-like sales growth between +3 and +5% with moderate improvement in recurring operating margin

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