Danone reports “meaningful progress” in 2022, posts LFL sales growth of 7.8%

Danone has posted like-for-like (LFL) sales growth of 7.8% for the full year, near the upper end of its guidance.

The owner of Evian and Activia yogurt posted 2022 net sales of €27.66 billion, up from €24.28 billion in 2021. The company had forecast growth of 7-8% for 2022, on an LFL basis.

Recurring operating income was €3.38 billion.

In 2022, the company’s Essential Dairy and Plant-based (EDP) unit posted LFL sales growth of 5.8%. Meanwhile, Danone’s Specialized Nutrition business saw sales grow 10% on an LFL basis.

The Waters business recorded LFL sales growth of 10.5% to €4.54 billion, despite the year’s “unprecedented external challenges and volatility”.

Danone’s CEO, Antoine de Saint-Affrique, said: “For Danone, it has been a year of deep transformation and solid delivery…Importantly, 2022 was not only a year of strategy and transformation but also one of meaningful progress and delivery. We closed a year of solid growth, +7.8% on a like-for-like basis, with all regions and categories contributing. While delivering on our financial commitments for 2022, we started reinvesting significantly in our capabilities, product superiority and brand support.”

He continued: “Building on 2022 momentum, we are entering 2023 with renewed ambition and confidence in our strategy. In 2023, we will pursue our transformation, and further invest in our brands, products and capabilities while delivering in line with the mid-term guidance defined last year.”