The quarterly revenue of Danone decreased by 9.4%
Analysts estimated the revenue at 5.59 billion euros on average, according to the consensus forecast of the company.
The indicators declined and were slightly lower than expected, as the COVID-19 pandemic continues to have a negative impact on its activities. Nevertheless, the company confirmed the forecast for the entire current year.
‘We continue to expect a return to comparable sales growth in the second quarter, as well as revenue growth in the second half of 2021,’ said Danone Chief Executive Officers Shane Grant and Veronique Penchienati - Bosetta in a statement.
LfL - revenue in the drinking water division fell by 11.6% in the last quarter, while sales in the specialized food division fell by 7.7%, while sales in the dairy and plant - based products division rose by 1.6%.
Stock prices of Danone are declining during the trading on Tuesday. The company's capitalization has increased by more than 11% since the beginning of this year, while the CAC 40 stock index has risen by 13%.
Danone is engaged in the production of dairy products, specialized food, and drinking water, which are sold in more than 120 countries. The company employs more than 100 thousand people working in 55 countries. In addition to the brand of the same name, the Danone portfolio includes the brands Activia, Actimel, Nutrilon, Evian water, Danissimo, Biobalance, Rastishka, Smeshariki, Tema, and Malyutka. In Russia, Danone has 16 enterprises.