Danone has reported a 3.4% increase in recurring EPS to 3.54 euros, driven by a recurring operating margin up 40 basis points to 12.6%, on net sales of over 27.6 billion euros.

The latter rose by 7% on a like-for-like basis, with a price effect of +7.4% and a volume/mix effect of -0.4%, with the food group noting that 'the transformation of EDP in Europe continues to bear fruit, with volume/mix returning to positive territory'.

A dividend up 5% to 2.10 euros will be proposed for 2023. For 2024, Danone forecasts like-for-like sales growth of between 3% and 5%, as well as a moderate improvement in operating margin before non-recurring items.

"We will remain focused on its implementation and disciplined execution, in line with the medium-term ambition defined in March 2022", says CEO Antoine de Saint-Affrique, also announcing an investor seminar for next June.

Copyright (c) 2024 CercleFinance.com. All rights reserved.