• Press release
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Danone 2023 H1 Results: solid first half of the year & making consistent progress on Renew Danone

  • Corporate news
  • Net sales reached €14,167m in H1 2023, up +6.3% on a reported basis and +8.4% on a like-for-like (LFL) basis, with price up +9.4%, and volume/mix down -1.1%

  •  Q2 sales growth reached +6.4% on a LFL basis, with price up +8.7% and volume/mix down -2.3%
    • +6.5% in Europe, driven by France, Poland and Spain; further progress on EDP portfolio transformation
    •  +5.0% in North America, led by Yogurt, Coffee Creations and Waters
    •  +9.6% in China, North Asia & Oceania, supported by all categories
    •  +10.8% in Latin America, led by EDP and Specialized Nutrition
    • +3.9% in Rest of the World, with Q2 performance normalizing after Q1 one-offs

  • Recurring operating margin up +14 bps at 12.2%; significant reinvestments in A&P, product superiority and capabilities (-99 bps impact)

  • Operational performance driving earnings: recurring EPS at €1.76, up +7.6% from last year

  • €1.1 bn free-cash-flow, driven by operational performance and supported by disciplined capital allocation

  • 2023 guidance reiterated: like-for-like sales growth between +4 and +6%; moderate improvement in recurring operating margin