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Feb 22 2024, 07:10 GMT
Danone
FY23 results and FY24 guidance in line
DAVY VIEW
Danone’s FY23 results were in line with market expectations. Group volume/mix growth turned positive in Q4-23, supported by strong progress made in EDP Europe and a solid volume performance across North America, China, North Asia & Oceania. FY24 outlook calls for like-for-like (LFL) growth in the range of 3-5% and moderate improvement in operating margin – this is in line with its medium-term ambitions. At first look, we envisage limited changes to our current forecasts.
