The following is a summary of the Danone S.A. (DANOY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Danone S.A. experienced a Q1 net sales growth of 4.1% on a like-for-like basis across all geographical regions and product categories.

• Positive volume/mix increased by 1.2% compared to the previous year, leading to a second consecutive quarter of positive growth.

• EDP, Specialized Nutrition, and Waters categories were the main drivers of growth, with respective growth figures of 3%, 3.8%, and 8.1%.

• Despite negative contributions of 1.6% due to currency, hyperinflation and related impacts, like-for-like sales still grew by 4.1%, with a pricing contribution of 2.9%.

Business Progress:

• In Europe, Danone improved its competitive ranking despite a challenging environment and executed the disposal of two underperforming noncore assets.

• North America showed solid performance due to Coffee Creations and high-protein yogurt businesses, while the plant-based segment showed signs of stabilization.

• Strong start noted in China, North Asia & Oceania, with like-for-like sales up by 8.9% due to high volume/mix.

• In Latin America, growth was driven by various brands in Waters and EDP, balancing the negative volume/mix.

• The Rest of the World zone indicated a growth increase by 6% through the Specialized Nutrition platform.

• With a solid performance across regions and categories, Danone is confident in meeting their yearly commitments and expects a 3% to 5% corridor of like-for-like sales growth and a moderate improvement in the operating margin.

More details: DANONE SPONS ADR IR

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