Danone: 2021 key indicators restated according to new operating segments and by category

Press release – Paris, June 2, 2022

Danone: 2021 key indicators restated
according to new operating segments and by category

As announced on March 8, 2022, Danone is reporting its key indicators¹ according to 4 new geographical operating segments, while retaining its global category reporting for Essential Dairy and Plant-based (EDP), Specialized Nutrition and Waters.

The reshaping of the organization by geographical zone has led to the reallocation of some central costs and other expenses among global categories. The recurring operating income and recurring operating margin have been restated accordingly for 2021, as detailed below (unaudited figures).

H1 and FY 2021 net sales, recurring operating profit and recurring operating margin restated by category

Net sales (€m), recurring operating profit (€m) and recurring operating margin (%)	H1 2021			FY 2021
	Net sales (€m)	Operating profit (€m)	Margin (%)	Net Sales (€m)	Operating profit (€m)	Margin (%)
BY CATEGORY
EDP	6,406	616	9.6%	13,090	1,355	10.4%
Specialized Nutrition	3,513	769	21.9%	7,230	1,634	22.6%
Waters	1,916	166	8.6%	3,961	348	8.8%
Total	11,835	1,551	13.1%	24,281	3,337	13.7%

H1 and FY 2021 net sales, recurring operating profit and recurring operating margin restated by operating segment (reminder of press release of March 30, 2022)²

Net sales (€m), recurring operating profit (€m) and recurring operating margin (%)	H1 2021			FY 2021
	Net sales (€m)	Operating profit (€m)	Margin (%)	Net Sales (€m)	Operating profit (€m)	Margin (%)
BY GEOGRAPHICAL ZONE
Europe	4,142	625	15.1%	8,341	1,291	15.5%
North America2	2,707	283	10.4%	5,564	603	10.8%
China, North Asia & Oceania3	1,430	423	29.6%	3,008	939	31.2%
Rest of the World	3,556	221	6.2%	7,369	504	6.8%
Total	11,835	1,551	13.1%	24,281	3,337	13.7%

In addition to the FY 2021 table already provided, the following tables restate quarterly net sales and like-for-like sales growth by category and new operating segment (unaudited figures).³

Q1 2021	Europe				Noram				China/North Asia/Oceania					Rest of the World				Total
	Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)			LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)
EDP	1,010		2.0%		1,209		2.3%		76			10.4%		854		-0.9%		3,149		1.6%
Specialized Nutrition	666		-13.8%		68		6.8%		416			-18.7%		568		11.4%		1,719		-7.7%
Waters	311		-12.3%		39		1.2%		106			15.3%		334		-18.2%		790		-11.6%
Total Company	1,987		-6.1%		1,316		2.5%		598			-10.9%		1 756		-1.3%		5,657		-3.3%

Q2 2021	Europe				Noram				China/North Asia/Oceania					Rest of the World				Total
	Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)			LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)
EDP	1,014		3.7%		1,273		4.3%		82			11.1%		884		6.5%		3,254		4.8%
Specialized Nutrition	685		5.9%		70		13.0%		508			-4.0%		529		4.8%		1,793		2.8%
Waters	456		17.8%		48		32.8%		241			10.4%		379		27.5%		1,125		19.5%
Total Company	2,155		7.1%		1,391		5.2%		832			1.3%		1,793		10.0%		6,171		6.6%

Q3 2021	Europe				Noram				China/North Asia/Oceania					Rest of the World				Total
	Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)			LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)
EDP	979		3.7%		1,289		4.8%		83			11.3%		918		2.8%		3,269		4.1%
Specialized Nutrition	671		-0.5%		74		7.1%		516			16.3%		515		-4.5%		1,777		2.9%
Waters	471		5.9%		50		24.7%		201			-4.1%		390		6.6%		1,112		4.6%
Total Company	2,122		2.8%		1,413		5.3%		801			10.0%		1 822		1.3%		6,158		3.8%

Q4 2021	Europe				Noram				China/North Asia/Oceania					Rest of the World				Total
	Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)			LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)
EDP	999		2.0%		1,316		4.9%		84			8.9%		986		5.6%		3,386		4.3%
Specialized Nutrition	700		-1.1%		77		9.0%		604			17.0%		550		6.2%		1,931		6.4%
Waters	378		18.6%		50		49.0%		89			59.4%		409		8.2%		925		17.3%
Total Company	2,077		3.5%		1,443		5.8%		777			19.3%		1 944		6.3%		6,242		6.7%

FY 2021	Europe				Noram				China/North Asia/Oceania					Rest of the World				Total
	Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)			LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)		Net sales (€m)		LFL sales growth (%)
EDP	4,002		2.8%		5,087		4.1%		326			10.4%		3,675		3.5%		13,090		3.7%
Specialized Nutrition	2,723		-2.9%		290		8.9%		2,045			2.0%		2,173		4.4%		7,230		1.0%
Waters	1,616		7.4%		187		26.1%		637			10.2%		1,521		4.5%		3,961		7.2%
Total Company	8,341		1.7%		5,564		4.7%		3,008			4.6%		7,369		4.0%		24,281		3.4%

---

¹Net sales, like-for-like sales growth, recurring operating income and recurring operating margin.

²United States and Canada
³China, Japan, Australia and New Zeland
All references in this document to Like-for-like (LFL) sales growth, recurring operating income and recurring operating margin correspond to financial indicators not defined in IFRS. Their definitions, as well as their reconciliations with financial statements, are listed in page 57 of the 2021 Universal Registration Document.

As a reminder, as disclosed on March 8, 2022, the management of some entities has been changed as part of the new organization, leading to the reallocation of some net sales.

Attachment

• pressrelease020622