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Rafaela Sousa

Rafaela Sousa

23 February 2022

Danone reports "strong" end to 2021 despite inflationary challenges

Danone reports "strong" end to 2021 despite inflationary challenges

Danone has reported an increase in net sales of 3.4% on a like-for-like (LFL) basis in its full-year results, despite inflationary challenges. The owner of Evian and Volvic posted 2021 net sales of €24.28 billion, compared to the €23.62 billion figure for 2020. Operating income stood at €2.26 billion last year, representing a 19.3% decline from 2020. Danone’s Essential Dairy and Plant-based unit posted LFL sales growth of 3.7% to €13.09 billion. Meanwhile, the company’s Specialized Nutrition business saw a 1% increase in sales in 2021 on an LFL basis. The Waters business recorded LFL sales growth of 7.2% to €3.96 billion, "despite the strong inflationary environment, notably driven by volume recovery, improved product mix and record-high productivity". Danone's CEO, Antoine de Saint-Affrique, said: “With Q4 sales up 6.7% on an LFL basis and volumes at 4%, we ended the year on a strong note. This led to full-year growth of 3.4% on an LFL basis, underpinned by a sound mix component. All categories contributed to this solid performance." He continued: "We delivered on our commitment to return to profitable growth in H2, with recurring operating margin at 13.7% in 2021. This was enabled by a strong focus on execution and a step up in productivity, a proactive approach to pricing and the disciplined implementation of 'Local First'."

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