PARIS (dpa-AFX) - French food company Danone SA (DANOY.PK) reported Wednesday that its full-year 2019 net income, Group share, declined 17.9 percent to 1.93 billion euros from 2.35 billion euros last year. Earnings per share decreased 18.7 percent to 2.95 euros from 3.63 euros last year.
However, recurring net income, group share, increased 9.2 percent to 2.52 billion euros from 2.30 billion euros, and recurring earnings per share rose 8.3 percent to 3.85 euros from 3.56 euros last year.
Sales for the full year increased 2.6 percent to 25.29 billion euros from 24.65 billion euros last year, while it also rose 2.6 percent on like-for-like basis. Sales grew by 3.8 percent in value, led by a continued positive mix and portfolio valorization, while volumes declined 1.2 percent.
The Group said that at the Annual General meeting on April 28, 2020, Danone's board will a dividend increase of 16 cents, or 8 percent, to 2.10 euros per share, in cash, in respect of the 2019 fiscal year.
For fiscal year 2020, Danone provided new guidance of mid-single-digit recurring earnings per share growth, reflecting +2 to +4 percent like-for-like sales growth and recurring operating margin above 15 percent, as the company accelerates investment and also factoring in assessment to date of the impact of coronavirus outbreak.
Beyond 2020, Danone expects to deliver in the mid-term, mid to high-single digit recurring earnings per share growth, with 3 percent to 5 percent sales growth on a like-for-like basis.
Danone also announce a 2 billion euros climate acceleration plan today, which in the next three years will further transform its agriculture, energy and operations, packaging, and digital capabilities so that the company will leverage fully its climate action to generate resilient growth models for its brands.
Copyright RTT News/dpa-AFX
© 2020 AFX News
