Danone 2022 Sales Rose; Guidance For 2023 in Line With Midterm Targets
22 2월 2023 - 4:06PM
Dow Jones News
By Giulia Petroni
Danone SA on Wednesday said 2022 sales rose as profit fell on
higher costs, and that guidance for the current year is in line
with its midterm targets.
The French food company reported net profit of 959 million euros
($1.02 billion) compared with EUR1.92 billion in the previous year.
Recurring net income, which excludes exceptional items, came in at
EUR2.21 billion, up 1.9% on year.
The recurring operating margin for the year was 12.2%, down 154
basis points compared with the previous year, mainly due to the
impact of input-cost inflation net of productivity.
Results were affected by implementation costs related to the
"Local First" reorganization plan and an impairment of around
EUR500 million related to the company's essential dairy and
plant-based business in Russia, Danone said.
Full-year sales increased 7.8% on a like-for-like basis to
EUR27.66 billion, with a 8.7% contribution from price and a
negative 0.8% contribution from volume/mix. In the fourth quarter,
sales grew 7% organically.
Danone said 2023 guidance is in line with midterm targets of
like-for-like sales growth between 3% and 5% with moderate
recurring operating margin improvement.
The board of directors will propose a dividend of EUR2 a share
for 2022, up 3.1% from the previous year.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 22, 2023 01:51 ET (06:51 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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