Danone: Q3 sales down 9.3%
(CercleFinance.com) - The French agri-food group Danone has posted Q3 sales of 5.
8 billion euros, down 9.3% as reported, taking into account unfavourable FX factors, with sales down 2.5% like-for-like.
Volumes showed a sequential improvement to -0.4% in the third quarter (against -2.6% in the Q2) - still affected by the performance of its water business -, in addition to the value effect at -2.1% (against -3% in the second) - reflecting stable prices.
Danone has re-set targets for 2020, which include an underlying operating margin of 14% and free cash flow of 1.8 billion euros, and announces an action plan to return to a medium-term target of profitable growth of +3% to +5%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
8 billion euros, down 9.3% as reported, taking into account unfavourable FX factors, with sales down 2.5% like-for-like.
Volumes showed a sequential improvement to -0.4% in the third quarter (against -2.6% in the Q2) - still affected by the performance of its water business -, in addition to the value effect at -2.1% (against -3% in the second) - reflecting stable prices.
Danone has re-set targets for 2020, which include an underlying operating margin of 14% and free cash flow of 1.8 billion euros, and announces an action plan to return to a medium-term target of profitable growth of +3% to +5%.
Copyright (c) 2020 CercleFinance.com. All rights reserved.