Danone reports Q1 sales EUR 6.96B vs. EUR 6.24B last year

In the first quarter of 2023, consolidated sales stood at EUR 6,962m, up +10.5% on a like-for-like basis, with a +10.3% contribution from price and a +0.2% contribution from volume/mix. On a reported basis, sales increased by +11.6%, benefiting notably from a slightly positive Forex impact of +0.7%, and a positive effect of +1.4% coming from the contribution of hyperinflation. Reported sales were also impacted by a negative scope impact of -0.6%, resulting from the deconsolidation of the Waters business in Argentina. CEO Antoine de Saint-Affrique said: "This quarter again, we consistently delivered against the pillars of our Renew Danone strategy, further improving the quality of our execution, and investing behind our winning brands and platforms, while continuing to streamline and improve our portfolio. While this is encouraging progress, there is still much to be done. We remain fully focused on delivering on our Renew Danone agenda, setting a solid base for long term sustainable value creation."