Danone SA on Wednesday mentioned 2022 gross sales rose as revenue fell on increased prices, and that steering for the present yr is in keeping with its midterm targets.
The French meals firm
BN,
reported internet revenue of 959 million euros ($1.02 billion) in contrast with EUR1.92 billion within the earlier yr. Recurring internet revenue, which excludes distinctive objects, got here in at EUR2.21 billion, up 1.9% on yr.
The recurring working margin for the yr was 12.2%, down 154 foundation factors in contrast with the earlier yr, primarily as a result of affect of input-cost inflation internet of productiveness.
Outcomes have been affected by implementation prices associated to the “Native First” reorganization plan and an impairment of round EUR500 million associated to the corporate’s important dairy and plant-based enterprise in Russia, Danone mentioned.
Full-year gross sales elevated 7.8% on a like-for-like foundation to EUR27.66 billion, with a 8.7% contribution from value and a detrimental 0.8% contribution from quantity/combine. Within the fourth quarter, gross sales grew 7% organically.
Danone mentioned 2023 steering is in keeping with midterm targets of like-for-like gross sales development between 3% and 5% with average recurring working margin enchancment.
The board of administrators will suggest a dividend of EUR2 a share for 2022, up 3.1% from the earlier yr.
Write to Giulia Petroni at giulia.petroni@wsj.com