Financials Danone

Equities

Real-time Euronext Paris Other stock markets 08:16:14 16/07/2025 pm IST			5-day change	1st Jan Change
67.70 ^EUR	-0.27%		-0.35%	+3.96%

09/07	Coffee maker Lavazza calls for further delay to EU deforestation law	RE
08/07	Nestlé: still in a tricky situation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	23,620	24,281	27,661	27,619	27,376	27,494	28,285	29,327
Change	-	2.8%	13.92%	-0.15%	-0.88%	0.43%	2.88%	3.68%
EBITDA ¹	4,769	4,602	5,240	5,092	4,726	4,753	4,961	5,229
Change	-	-3.5%	13.86%	-2.82%	-7.19%	0.57%	4.38%	5.4%
EBIT ¹	3,317	3,337	3,377	3,481	3,558	3,664	3,856	4,070
Change	-	0.6%	1.2%	3.08%	2.21%	2.97%	5.24%	5.55%
Interest Paid ¹	-310	-267	-291	-307	-305	-321.6	-312	-300.8
Earnings before Tax (EBT) ¹	2,488	1,995	1,832	1,686	2,999	3,273	3,480	3,662
Change	-	-19.82%	-8.17%	-7.97%	77.88%	9.12%	6.35%	5.22%
Net income ¹	1,956	1,924	959	881	2,021	2,273	2,432	2,571
Change	-	-1.64%	-50.16%	-8.13%	129.4%	12.47%	6.99%	5.73%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	6,242	5,954	5,821	5,628	5,657	6,171	6,158	6,242	6,236	7,067	7,334	7,007	6,962	7,235	6,906	6,655	6,789	6,938	6,826	6,823	6,844	7,279	7,153	7,068
Change	-	-4.61%	-2.23%	-3.32%	0.52%	9.09%	-0.21%	1.36%	-0.1%	13.33%	3.78%	-4.46%	-0.64%	3.92%	-4.55%	-3.63%	2.01%	2.19%	-1.61%	-0.04%	0.31%	6.36%	-1.73%	-1.19%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,807	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	21/04/20	30/07/20	19/10/20	19/02/21	20/04/21	29/07/21	19/10/21	23/02/22	20/04/22	27/07/22	27/10/22	22/02/23	26/04/23	26/07/23	26/10/23	22/02/24	18/04/24	31/07/24	24/10/24	26/02/25	23/04/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	11,431	11,835	12,446	13,325	14,336	14,167	13,452	13,757	13,619	13,885	13,699
Change	-	3.53%	5.16%	7.06%	7.59%	-1.18%	-5.05%	2.27%	-1%	1.95%	-1.34%
EBITDA ¹	2,493	2,112	2,490	2,158	2,424	2,267	2,825	2,298	2,428	2,355	2,514
Change	-	-15.28%	17.9%	-13.33%	12.33%	-6.48%	24.61%	-18.65%	5.66%	-3.01%	6.75%
EBIT ¹	1,615	1,551	1,786	1,612	1,765	1,734	1,747	1,746	1,812	1,810	1,912
Change	-	-3.96%	15.15%	-9.74%	9.49%	-1.76%	0.75%	-0.06%	3.78%	-0.11%	5.64%
Charge d'intérêts ¹	-140	-129	-137	-	-144	-141	-166	-151	-154	-155	-152
Earnings before Tax (EBT) ¹	-	-	-	-	-	1,525	161	1,654	1,345	1,656	1,799
Change	-	-	-	-	-	-	-89.44%	927.33%	-18.68%	23.12%	8.64%
Net income ¹	-	-	-	-	-	1,093	-212	1,219	802	1,176	1,274
Change	-	-	-	-	-	-	-119.4%	675%	-34.21%	46.63%	8.33%
Announcement Date	19/02/21	29/07/21	23/02/22	27/07/22	22/02/23	26/07/23	22/02/24	31/07/24	26/02/25	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	11,941	10,500	10,107	10,221	8,601	7,739	6,873	6,086
Change	-	-12.07%	-3.74%	1.13%	-15.85%	-10.02%	-11.19%	-11.45%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	962	1,043	873	847	923	1,018	1,069	1,128
Change	-	8.42%	-16.3%	-2.98%	8.97%	10.26%	5.01%	5.56%
Free Cash Flow (FCF) ¹	2,052	2,431	2,091	2,633	3,003	2,571	2,668	2,769
Change	-	18.47%	-13.99%	25.92%	14.05%	-14.38%	3.77%	3.8%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	20.19%	18.95%	18.94%	18.44%	17.26%	17.29%	17.54%	17.83%
EBIT Margin (%)	14.04%	13.74%	12.21%	12.6%	13%	13.33%	13.63%	13.88%
EBT Margin (%)	10.53%	8.22%	6.62%	6.1%	10.95%	11.9%	12.3%	12.49%
Net margin (%)	8.28%	7.92%	3.47%	3.19%	7.38%	8.27%	8.6%	8.77%
FCF margin (%)	8.69%	10.01%	7.56%	9.53%	10.97%	9.35%	9.43%	9.44%
FCF / Net Income (%)	104.91%	126.35%	218.04%	298.86%	148.59%	113.12%	109.72%	107.71%
Profitability
ROA	4.44%	4.96%	4.86%	5.09%	4.5%	5%	5.27%	5.56%
ROE	11.7%	11.49%	12.53%	13.39%	13.81%	13.12%	13.34%	13.74%
Financial Health
Leverage (Debt/EBITDA)	2.5x	2.28x	1.93x	2.01x	1.82x	1.63x	1.39x	1.16x
Debt / Free cash flow	5.82x	4.32x	4.83x	3.88x	2.86x	3.01x	2.58x	2.2x
Capital Intensity
CAPEX / Current Assets (%)	4.07%	4.3%	3.16%	3.07%	3.37%	3.7%	3.78%	3.85%
CAPEX / EBITDA (%)	20.17%	22.66%	16.66%	16.63%	19.53%	21.41%	21.54%	21.58%
CAPEX / FCF (%)	46.88%	42.9%	41.75%	32.17%	30.74%	39.58%	40.06%	40.73%
Items per share
Cash flow per share ¹	4.565	5.374	4.635	5.364	5.945	5.482	5.598	5.918
Change	-	17.73%	-13.75%	15.72%	10.83%	-7.78%	2.11%	5.71%
Dividend per Share ¹	1.94	1.94	2	2.1	2.15	2.213	2.324	2.466
Change	-	0%	3.09%	5%	2.38%	2.92%	5.01%	6.13%
Book Value Per Share ¹	24.94	27.07	28.02	25.2	25.1	28.92	30.43	32.1
Change	-	8.54%	3.52%	-10.07%	-0.4%	15.23%	5.2%	5.47%
EPS ¹	2.99	2.94	1.48	1.3	3.13	3.643	3.877	4.114
Change	-	-1.67%	-49.66%	-12.16%	140.77%	16.39%	6.41%	6.12%
Nbr of stocks (in thousands)	6,49,380	6,50,849	6,26,246	6,41,543	6,43,653	6,45,998	6,45,998	6,45,998
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-