2021 Half Year Results - Danone back to growth in Q2 with all categories contributing

Danone - CP - logo

Paris, July 29, 2021 

  • Net sales of €6,171m in the second quarter, up +6.6% on a like-for-like (LFL) basis, and +3.6% on a reported basis, leading H1 sales to grow +1.6% on a like-for-like basis
  • Return to growth driven by focus on execution and delivery: core portfolio renovation and innovation, acceleration in strategic channels and selected investments in key battles 
  • Recurring operating margin at 13.1%: selective pricing initiatives, coupled with efficient product mix management and stepped-up productivity partially offsetting adverse category mix and higher inflation 
  • Reported EPS up +5.1% at €1.63 and recurring EPS down -9.3% at €1.53 
  • Continued disciplined cash management, with free cash flow reaching €1.0 bn in H1, and further progress on portfolio management with the disposal of Mengniu stake and sale of Vega
  • Launch of a share buyback program of up to €800m in the second half of the year
  • 2021 guidance reiterated: return to profitable growth in H2, and FY recurring operating margin broadly in line with 2020

Press contact

Phone number: [tel:+33 1 40 70 11 89]

E.mail: danone@dgm-conseil.fr