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Danone plans ‘year of recovery’ after 2020 sales drop

Danone has guided towards a ‘year of recovery’ in 2021 after its 2020 sales were hit by weak performance in waters and infant nutrition.

Reporting its annual results, the French dairy giant said its 2020 consolidated sales fell 1.5% on a like-for-like basis, with stable volumes and a 1.5% decrease in value reflecting negative category and country mix.

In particular, out-of-home channels sales declined by approximately 25% in Q4, hit by new waves of restrictions and lockdown measures related to COVID-19, especially in Europe.

All that said, their Dairy & Plant-based sales posted a net growth of 3.4% in 2020 on a like-for-like basis. Sustained by both essential dairy, up low-single digit, and plant-based, that grew at 15% and reached €2.2bn of sales over the year.

Source: https://www.thegrocer.co.uk/results/city-snapshot-danone-plans-year-of-recovery-after-2020-sales-drop/653367.article Feb 19 | Competitor News