Danone sees 13.4% EPS growth

2 Aug 2018

Danone has reported what it describes as a strong set of results in a volatile context. EPS grew 13.4%, and sales were up by 4% in the first half and 3.3% in the second quarter.

Danone sees 13.4% EPS growth

Danone has reported what it describes as a strong set of results in a volatile context. EPS grew 13.4%, and sales were up by 4% in the first half and 3.3% in the second quarter. Danone reaffirmed its 2018 guidance.

Emmanuel Faber, Chairman and Chief Executive Officer, said: “In the first half of the year, Danone delivered another semester of strong results, combining sales growth momentum, strong margin improvement, and improved free cash flow. This performance, achieved despite ongoing volatility and unexpected headwinds in some markets, reflects the underlying strengths of our business and our continued financial discipline.”

“The performance was underpinned by notable progress in rebalancing the growth profile of our portfolio and widening sources of growth, while delivering initial savings from our €1bn efficiency program Protein. Excluding the exceptional situation in Morocco, all reporting entities delivered growth in the second quarter. Demand remained strong for Specialized Nutrition in China, Waters achieved broad-based growth and Essential Dairy and Plant-Based returned to growth, reflecting benefits from the WhiteWave acquisition and organic improvements in fresh dairy in key regions.”

“This leads me to confirm our guidance for the year. Looking to the longer term, we have this summer started to work on the Danone 2030 Goals that were unveiled at our last annual shareholder meeting. These goals reinforce the importance of our « One Planet. One Health » vision which has become a unique way to create and share sustainable value for all.”

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