Danone 2019 Profit Fell; Issues 2020 Guidance
February 26 2020 - 2:30AM
Dow Jones News
By Giulia Petroni
Danone SA said Wednesday that net profit fell for 2019 and it
issued new guidance for 2020.
The French food company said net profit for the year was 1.93
billion euros ($2.09 billion), compared with EUR2.35 billion the
year previous. An analyst consensus provided by Danone saw net
profit at EUR2.49 billion.
Full-year sales rose 2.6% on a like-for-like basis to EUR25.29
billion, ahead of an analysts' consensus provided by Danone. The
recurring operating margin for the year was 15.2%.
Sales in the fourth quarter were up 4.1% on a like-for-like
basis to EUR6.24 billion.
Danone proposed a dividend of EUR2.10 a share for 2019, up from
EUR1.94 the previous year.
Looking ahead, the company said it targets mid-single-digit
recurring earnings per share growth, reflecting a like-for-like
sales growth of between 2% and 4% and a recurring operating margin
above 15%.
In the mid-term, Danone also said it expects to deliver
recurring EPS growth in the mid-to-high-single digits with 3% to 5%
sales growth on a like-for-like basis.
"Danone assumes that economic conditions in 2020 will remain
particularly volatile and uncertain overall...with an additional
pressure on the world economy since the beginning of the year
related to the Covid-19 outbreak that began in Wuhan in China last
December," the company said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 26, 2020 02:15 ET (07:15 GMT)
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