PARIS, March 14, 2001 (PRIMEZONE) -- The Board of Directors of Groupe DANONE (NYSE:DA) (BUE:DA), meeting on March 14, 2001, examined audited consolidated accounts for 2000 that confirmed provisional figures published on January 30.
In 2000, sales totaled EUR 14,287 million (FRF 93,719 million). Restated for constant scope and exchange rates, they were up 7.0% -- the strongest rise of any major European food group for the period.
Operating income totaled EUR 1,550 million (FRF 10,165 million), up 11.4% (+13.0% at comparable structure). Operating margin rose 38 basis points from 10.48% of sales in 1999 to 10.86% in 2000.
Diluted net earnings per share were up 8.7% or 13.2% after elimination of net capital gains.
Key consolidated figures for 2000 are as follows:
KEY FIGURES 2000 (millions of euros) 1999 2000 Change (FRF millions) --------- --------- --------- --------- Sales 13,293 14,287 + 7.5% 93,719 Operating income 1,391 1,550 + 11.4% 10,165 Operating margin 10.5% 10.8% + 38 bp --------- --------- --------- --------- Exceptional items 2 23 152 Net interest expense -131 -193 - 1,267 Tax -499 -562 -3,688 Minority interests -110 -130 - 851 Equity in earnings of affiliated companies 29 33 221 Net income 682 721 + 5.7% 4,732 --------- --------- --------- --------- Net EPS (diluted) (a) Published 4.69 euro 5.10 euro + 8.7% FRF33.64 After elimination of net capital gains (b) 4.50 euro 5.09 euro + 13.2% FRF33.39 --------- --------- --------- --------- Cash flow from operations 1,423 1,558 10,219 Capital expenditures 703 798 5,238 --------- --------- --------- --------- Shareholders' equity (including minority interests) 6,867 8,019 52,602 Net financial debt 3,119 4,401 28,863 Debt/equity 45% 55% (a) Corrected for the 2 for 1 share split in June 2000. (b) Excluding capital gains and losses and impairment charges on intangible assets
The Board of Directors adopted financial statements for 2000 for Groupe DANONE, the parent company of the Groupe DANONE, which set net income at EUR 616 million.
The Board will ask the Annual General Meeting of Shareholders, to be held on May 29, 2001, to approve a dividend of EUR 1.90 (FRF 12.46) per share for 2000, a rise of 8.6% on the amount paid on 1999 operations.
The dividend will be payable in cash from June 6, 2001.
The company's performance in 2000 confirms the pertinence of the model of profitable growth implemented by Groupe DANONE.
Organic sales growth recorded since the beginning of 2001 is in keeping with the trend observed throughout 2000.
First-quarter 2001 sales will be announced on April 12, 2001.
-0- CONTACT: Groupe DANONE, Paris Laurant Lemaire, Investor Relations 011-33-1-44-35-20-76