Danone has published results for the first half and second quarter. In the first half of 2021, consolidated sales were €11.8 billion, up 1.6% on a like-for-like basis; on a reported basis, sales were down 2.9%, mainly due to the negative impact of exchange rates (-5.5%) resulting from the depreciation of currencies against the euro in the US, Latin America, Indonesia, Turkey and Russia, according to the company.
In the second quarter, like-for-like sales increased 6.6%, with value up 4.7% and sales volumes up 1.8%. Reported sales increased by 3.6%, mainly impacted by a still strong negative 4.0% effect from foreign exchange.
In Europe and North America, like-for-like sales grew 6.4%, led by the recovery in Waters, continued solid momentum in Essential Dairy and Plant Based (EDP) and a return to growth in Specialised Nutrition. Sales in the Rest of the World grew 6.9% on a like-for-like basis.
Essential Dairy & Plant-based reported like-for-like sales growth of 3.2% in the first half of 2021 and the operating margin remained broadly stable at 9.1%.
In the second quarter, sales accelerated from the first quarter and reached +4.8% on a like-for-like basis, up 2.2% in volume and +2.6% in value. The Essential Dairy portfolio delivered solid growth, while Plant-based delivered its sixth consecutive quarter of double-digit growth.
In Europe, Alpro had another quarter of double-digit growth, while Probiotics delivered solid growth, led by Actimel. In plant-based products, growth was led by coffee whiteners and yoghurt alternatives. In the rest of the world, sales growth was strong, thanks to the favourable comparables in Latin America and Africa, while performance in the CIS remained weak in a challenging macroeconomic and sanitary environment.