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News Dairy

Results Danone better than expected

April 19, 2024 - Wouter Baan

Danone reported a strong start to the first quarter of 2024, with a 4.1% increase in revenue on a comparable basis. This outperformed analysts' earlier expectations of 3.4%. 

Revenue for the first quarter of 2024 amounted to €6.79 billion, which was 2.5% lower than the €6.96 billion recorded in the first quarter of 2023. Danone attributed this decline partly to its Essential Dairy & Plant division in Russia.

Danone noted that it has finally managed to sell its Russian operations after a prolonged process. The buyer, Vamin R LLC, has been identified, and the sale is expected to be finalized in the coming weeks. In addition to this situation, the decline in revenue was also influenced by adverse currency exchange effects.

Sales increased on a comparable basis in regions including Europe, North America, China, and Latin America. In Europe, the increase amounted to 2.8%.

Wouter Baan

Wouter Baan is the editor-in-chief of Farmerbusiness and a market specialist in dairy, pork, and meat at DCA Market Intelligence. He also tracks developments within the agribusiness sector and conducts interviews with CEOs and policymakers.