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Competitive growth from China propels Danone in first quarter

By Wang Zhuoqiong | | Updated: 2024-04-19 13:45
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The logo of Danone. [Photo/VCG]

Leading food and beverage company Danone announces its first quarter results of 2024, with consolidated sales standing at 6.8 billion euros ($7.2 billion), up 4.1 percent on a like-for-like basis, led by China's sustained competitive growth in all categories.

In the first quarter, China, North Asia & Oceania region achieved sales of 840 million euros and delivered 8.9 percent like-for-like sales growth, led by volume or mix up 6.9 percent and price up 2 percent.

In China, specialized nutrition maintained its competitive momentum, while Mizone, a sports drink brand of Danone, posted a strong start to the year, growing steep double-digits.

All categories positively contributed this quarter. On a like-for-like basis, specialized nutrition sales were up 3.8 percent to 2.18 billion euros. Waters sales were up 8.1 percent to 1.13 billion euros. Essential dairy and plant-based sales were up 3 percent to 3.5 billion euros.

Antoine de Saint-Affrique, CEO of Danone, said: "In what remains a challenging environment, we continued making good progress on our transformation agenda, strengthening our category fundamentals, intentionally driving our winning mixes and geographies while delivering on portfolio rotation with the successful closing of the disposals of our milk and dairy activity Horizon Organic and Wallaby in the United States and Michel & Augustin."

Danone expects 2024 full-year like-for-like sales growth between 3 percent and 5 percent with moderate improvement in recurring operating margin.

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