Core Insights - The company reported Q3 2024 sales of €6,826 million, reflecting a like-for-like (LFL) growth of +4.2%, driven by a +3.6% increase in volume/mix and a +0.7% increase in price [1][3][4] - The company confirmed its 2024 guidance, expecting LFL sales growth between +3% and +5% with a moderate improvement in recurring operating margin [1][8] Sales Performance - Sales by geographical zone showed varied performance: - Europe: €2,427 million, LFL growth of +1.4% - North America: €1,611 million, LFL growth of +5.8% - China, North Asia & Oceania: €967 million, LFL growth of +8.0% - Latin America: €706 million, LFL growth of +2.7% - Rest of the World: €1,115 million, LFL growth of +6.0% [1][4][5][6] - By category, EDP sales were €3,283 million with LFL growth of +4.1%, Specialized Nutrition at €2,189 million with +5.2%, and Waters at €1,354 million with +3.2% [1][4][6] Market Dynamics - The company experienced strong competitive momentum in North America, particularly in High Protein, Coffee Creations, and Waters, with double-digit growth in Coffee Creations [2][4] - In Europe, the EDP category showed progress, driven by strong performance from brands like YoPro, Actimel, and Alpro, despite adverse weather conditions affecting Waters [4][5] - In China, North Asia & Oceania, the company saw a significant increase in volume/mix, particularly in Specialized Nutrition and Medical Nutrition [5][6] Financial Adjustments - Reported sales decreased by -1.2% due to negative impacts from scope (-3.1%) and foreign exchange (-3.2%), while hyperinflation contributed positively to reported sales (+1.5%) [3][4][6] - The company applied IAS 29 in hyperinflationary countries, which affected reported data, leading to adjustments in sales figures [9][10] Major Developments - The company successfully issued a €700 million bond with a 7-year maturity and a 3.20% coupon, enhancing its financial flexibility [8]
Danone: Continued strong momentum in Q3; Consistently delivering quality growth