22 October 2008
· Danone sales increased 8.3% in Q3 08
· Dairy delivered solid sales growth of 8.2% in Q3 08; volume trends are improving
· Waters’ sales growth of 3.7% in Q3 08, reflecting challenging conditions in W-Europe
· Baby Nutrition sustains above-category growth at 12.7% in Q3 08
· Medical Nutrition continues double-digit sales growth track record at 11.7% in Q3 08
· Full-year targets 2008 reconfirmed
Chairman’s comment
Commenting on the results in the third quarter of 2008, Franck Riboud, Chairman and CEO of Groupe DANONE said:
“With a sales growth of 8.3%, the performance of the Group in the third quarter was solid and satisfactory and allows us to confirm our targets for 2008. This performance again reflects the relevance of the business lines we have chosen to be in and the geographic priorities we have set. It also shows the ability of our teams to adapt quickly to changing consumption patterns and markets. Our financial strength, competitive advantages and our unique culture provide us confidence in our ability to cope with this phase of difficult economic circumstances that we have entered.”
Overview of sales performance
In the third quarter 2008, consolidated reported sales increased by 31.2% to € 3,846 million. Excluding the effects of changes in exchange rates (-2.3%) and in scope of consolidation (+25.2%), total sales increased by 8.3% on a like-for-like basis. This like-for-like sales growth was driven by a 2.6% rise in volume and a 5.7% rise in value.
In the first nine months of 2008, consolidated reported sales increased by 22.2% to € 11,537 million. Excluding the effects of changes in exchange rates (-3.8%) and in scope of consolidation (+16.8%), total sales increased by 9.2% on a like-for-like basis. This like-for-like sales growth was driven by a 2.5% rise in volume and a 6.7% rise in value.