Danone: Q1 sales down 3.3%
(CercleFinance.com) - Danone's consolidated Q1 2021 sales came in at 5.
7 billion euros, down 3.3%, like-for-like, with a 3.7% decline in volume and a 0.3% increase in value.
Reported sales fell by 9.4%, mainly due to negative currency effects (-7.0%).
In the first quarter, sales of dairy and plant-based products rose 1.6% like-for-like, with a 0.5% increase in volume and +1.1% in value.
Revenues of the specialised nutrition business fell by 7.7% like-for-like, with a 7.0% decline in volume and -0.7% in value.
The water business recorded a decrease of -11.6% like-for-like, including a 11.2% decrease in volume and -0.4% in value.
Danone expects a return to like-for-like growth as from Q2, as well as a return to profitable growth from the second half of the year. It expects its 2021 underlying operating margin to be broadly in line with that of 2020.
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