France: Danone reports “solid” performance in 2015
Dairy and drinks multinational Danone saw total sales rise in 2015 to €22.412 billion ($24.70 billion), according to its latest financial statements.
Describing its performance as "solid" and "in line with objectives", the France-based firm reported that overall sales for the year had risen 4.4% on a like-for-like basis, with trading operating margin up +17 bps to 12.91%.
Topline sales growth was driven primarily by the company's Waters, Early Life Nutrition and Medical Nutrition divisions, which witnessed value growth of 7.1%, 9.8% and 7.5% respectively. Danone's Dairy division, which accounts for almost half of the firm's total revenues, fared slightly less well however, with just 0.6% value growth and a dip of 3.0% in volume for the full year.
For 2016, the firm set itself a target of "profitable growth" and a sales increase of between 3 and 5%.
Commenting on the results, Danone CEO Emmanuel Faber said: “Over the past 18 months, we have been making the changes necessary to take up the challenges of a new and ever changing world, as we pursue our purpose to provide pleasurable, healthier, sustainable hydration and eating options to our consumers each and every day. With organic growth of +4.4% and trading operating margin up +17 basis points like-for-like, our results are very solid and perfectly aligned with our objectives. They confirm that we have taken this mission to a new level, paving the way for strong, profitable and sustainable growth by 2020"