Press release – Neuilly-sur-Seine, Tuesday, October 7, 2025 - 5.50 pm ARGAN and Danone start the works for a new Aut0nom® logistics site in Sorigny In the presence of Alain Esnault, Mayor of Sorigny, and Éric Loizon, President of the Community of Municipalities, ARGAN and Danone symbolically laid the foundation stone of the future Aut0nom® site in Sorigny. This project marks a strategic turning point for Danone, with a doubling of its logistics capacities in the Greater West of France, while reaffirming it ...

Core Insights - ARGAN and Danone have commenced construction of a new Aut0nom® logistics site in Sorigny, which will significantly enhance Danone's logistics capacity in Western France, doubling it in the region [2][5][6] Company Developments - The new logistics site will cover 8,200 square meters, including 6,400 square meters dedicated to positive cold storage and an 800 square meter office block [3] - The Aut0nom® equipment will allow the site to generate green, decarbonized energy for self-consumption, aligning with Danone's commitment to responsible logistics [3][5] - Danone's expansion includes an additional 45,000 tons of annual production capacity in France, reinforcing its focus on local and sustainable food [6] Strategic Importance - The logistics site will facilitate the distribution of Danone's dairy and plant-based products closer to consumer hubs, reflecting the company's strategy to invest sustainably in French regions [5][6] - The project is seen as a testament to the economic attractiveness of the Sorigny area and the collaborative efforts between ARGAN, Danone, and local authorities [7] Company Profiles - ARGAN specializes in the development and rental of premium warehouses and is a leading player in the French market, with a portfolio of 3.7 million square meters valued at €4.0 billion [8][9] - Danone is a prominent French food company with a mission to provide health through food, operating 25 sites and employing 6,500 people in France [13]

Core Viewpoint - Danone has successfully launched a €1.3 billion dual-tranche bond issue to enhance its funding flexibility and extend the maturity of its debt [1][2]. Group 1: Bond Issue Details - The bond issue consists of two tranches: €800 million in 2-year floating rate notes with a coupon of Euribor 3 months + 27 basis points, and €500 million in undated deeply subordinated fixed rate resettable notes with a fixed resettable coupon of 3.95% [6]. - The proceeds will be used for general corporate purposes, including refinancing existing €500 million undated deeply subordinated fixed rate resettable notes callable in September 2026 [1][2]. Group 2: Financial Reporting and Credit Metrics - The undated deeply subordinated notes will be fully accounted as equity under IFRS standards and treated as 50% equity by Moody's and Standard & Poor's in their credit metrics [2]. - The settlement of the bond issue is expected to take place on September 8, 2025, and the bonds will be listed on Euronext Paris [2]. Group 3: Investor Confidence and Company Overview - The bond issue was widely subscribed by a diversified investor base, indicating high confidence in Danone's business model and credit profile [3]. - Danone is a leading global food and beverage company with a focus on health-oriented products, generating €27.4 billion in sales in 2024 and operating in over 120 markets [3].

Core Insights - Danone has released its half-year financial report for the period ending June 30, 2025, which is now available online [2] - The company operates in three key categories: Essential Dairy & Plant-Based products, Waters, and Specialized Nutrition, focusing on health and sustainability [3] - Danone generated €27.4 billion in sales in 2024, showcasing its significant market presence [3] Company Overview - Danone is a leading global food and beverage company with a mission to promote health through food [3] - The company employs over 90,000 people and sells products in over 120 markets [3] - Danone's portfolio includes well-known international brands such as Actimel, Activia, and evian, as well as strong local brands [3] Strategic Goals - Danone has defined its Renew strategy aimed at restoring growth, competitiveness, and long-term value creation [3] - The company aspires to achieve B Corp certification globally by the end of 2025 [3] - Danone is included in various sustainability indexes, indicating its commitment to social and environmental impact [3]

Core Insights - The company reported a strong performance in H1 2025, with like-for-like sales growth of +4.2% driven by a volume/mix increase of +2.6% and price growth of +1.7% [7][9] - Recurring operating income increased by +3.7% to €1,811 million, with a recurring operating margin of 13.2%, up +49 basis points from the previous year [17] - The company confirmed its 2025 guidance, expecting like-for-like sales growth between +3% and +5%, with recurring operating income anticipated to grow faster than sales [22] Financial Performance - H1 2025 sales were reported at €13,737 million, a slight decrease of -0.1% on a reported basis, primarily due to negative currency impacts [9][21] - Recurring net income attributable to the Group increased by +5.9% to €1,231 million, while total net income decreased by -14.7% to €1,040 million due to non-recurring expenses [19][20] - Free cash flow for H1 2025 was €1,172 million, down -6.1% from the previous year [21] Segment Performance - Sales in Europe increased by +2.3% in H1 2025, with strong growth in Dairy and Plant-based products [10][11] - North America saw a decline in sales by -4.6% on a reported basis, but like-for-like sales grew by +3.0% [10][11] - China, North Asia & Oceania experienced robust growth, with sales up +11.3% on a like-for-like basis, driven by strong performance in Specialized Nutrition [12][13] Strategic Developments - The company is actively investing in its portfolio, including the acquisition of Kate Farms and The Akkermansia Company, to enhance its health-focused offerings [4][30] - The CEO emphasized the importance of a consumer-centric and science-based strategy to drive future growth [5][3] - The company remains committed to its Renew Danone strategy, focusing on high protein, medical nutrition, and plant-based products [4][3]

Core Insights - The company reported a strong performance in H1 2025, with sales increasing by +4.2% on a like-for-like basis, driven by a volume-mix increase of +2.6% and a price increase of +1.7% [4][6][8] - Recurring operating income reached €1,811 million, with a recurring operating margin of 13.2%, reflecting a +49 basis points improvement compared to H1 2024 [19][20] - The company confirmed its 2025 guidance, expecting like-for-like sales growth between +3% and +5%, with recurring operating income anticipated to grow faster than sales [23] Financial Performance - H1 2025 sales amounted to €13,737 million, a slight decrease of -0.1% on a reported basis, primarily due to negative currency impacts of -2.9% and scope effects of -1.5% [8][12] - Recurring net income for the group was €1,231 million, up +5.9% from H1 2024, while reported net income decreased by -14.7% to €1,040 million [20][21] - Free cash flow for H1 2025 was €1,172 million, down -6.1% from the previous year [22][43] Geographical Performance - Sales in Europe increased by +2.3% on a like-for-like basis, with strong growth in Dairy and Plant-based products [11][16] - North America saw a decline in reported sales by -4.6%, but like-for-like sales grew by +3.0%, supported by double-digit growth in High Protein [12][16] - China, North Asia & Oceania experienced robust growth, with sales up +12.4% on a like-for-like basis, driven by strong performance in Specialized Nutrition [13][16] Strategic Developments - The company is actively investing in its portfolio, including the acquisition of Kate Farms, a leading plant-based nutrition brand in the U.S., and The Akkermansia Company, focusing on gut health [5][27] - The CEO emphasized the importance of a consumer-centric and science-based strategy to drive future growth [4][6] Operational Metrics - The recurring operating margin improved to 13.2%, driven by operational efficiencies, despite reinvestments impacting margins [19] - The effective tax rate for H1 2025 was 26.9%, slightly higher than the previous year [20]