By Alec Mattinson2021-02-19T08:56:00+00:00
Top story
Danone has guided towards a ‘year of recovery’ in 2021 after its 2020 sales were hit by weak performance in waters and infant nutrition.
Reporting its annual results this morning, the French dairy giant said its 2020 consolidated sales fell 1.5% on a like-for-like basis, with stable volumes and a 1.5% decrease in value reflecting negative category and country mix.
On a reported basis, sales were down -6.6%, mainly driven by the negative impact of exchange rates (-5%) resulting from currencies devaluation against the Euro in the United States, Latin America, Indonesia and Russia
In the fourth quarter, sales declined -1.4% on a like-for-like basis, showing some sequential improvement from the two previous quarters, with flat volumes. Reported sales for the quarter were down -9.8%, mainly driven by a continued strong negative effect of -8.8% from exchange rates.