PARIS, Oct. 10, 2001 (PRIMEZONE) -- Groupe DANONE (NYSE:DA) confirms its 2001 financial targets.
A - Third-quarter sales and year to September
Third-quarter sales were up 3.7% on a like-for-like basis, leading to a 5.3% growth for the first 9 months of 2001.
Year to date, consolidated sales amounted to EUR 11,012 million, an increase of 0.8%. The organic growth, on a like-for-like basis has been +5.3%, changes in the companies included in the scope of consolidation had a negative impact of -5.4% and the exchange rates had a positive impact of +0.9%.
The organic growth of +5.3% derived from a +3.3% rise in volume and a +2.0% rise in value.
Figures by business line and geographical area for the first 9 months were as follows (unaudited figures):
EUR millions 9 Months 9 Months Change
2000 2001 Like-for-like
By BUSINESS LINE
Fresh Dairy Products 4,904 5,221 +6.5%
Beverages 3,388 3,055 +8.0%
Biscuits 2,364 2,474 +0.4%
Other Food Business 277 276 +0.5%
Inter-company sales -12 -14 -
By GEOGRAPHICAL AREA
France 3,380 3,045 +2.7%
Rest of Western Europe 3,979 3,863 +5.7%
Rest of World 4,181 4,804 +6.4%
Inter-regional sales -619 -700 -
Group 10,921 11,012 +5.3%
Year to date, organic growth by period was as follows:
like-for-like 1st 2nd 3rd
Quarter Quarter 1st Half Quarter 9 Months
By BUSINESS LINE
Fresh Dairy
Products +7.0% +6.8% +6.9% +5.7% +6.5%
Beverages +9.4% +8.9% +9.2% +5.9% +8.0%
Biscuits +3.5% +0.3% +1.8% (2.2%) +0.4%
Other Food
Business +2.4% +0.3% +1.5% (1.4%) +0.5%
By GEOGRAPHICAL
AREA
France +6.3% +0.8% +3.4% +1.1% +2.7%
Rest of Western
Europe +6.6% +6.1% +6.3% +4.6% +5.7%
Rest of World +6.8% +8.1% +7.5% +4.3% +6.4%
Group +6.6% +5.7% +6.2% +3.7% +5.3%
B - Groupe DANONE confirms its 2001 financial targets
Groupe DANONE remains confident in its capacity to deliver its 2001 financial targets: a like-for-like sales growth between 5% and 7%, and an improvement in operating margin ratio by 20 to 40 basis points.
Growth in earnings per share of the 2nd half of 2001 (excluding capital gains and restructuring provisions) should be close to 10%, as compared to 6% for the first half of 2001.
C - Groupe DANONE confirms its 1st Half results for 2001
The Board of Directors of Groupe DANONE approved the 1st Half Results for 2001: sales increased by +6.2% on a like-for-like basis, operating margin rose from 10.6% to 10.9%, growth in earnings per share was of 8.5% (excluding goodwill amortization).
2001 1st Half figures:
EUR millions 1ST Half 1ST Half Change
2000 2001
Net Sales 7,254 7,292 +6.2%*
Operating Result 770 795
Operating Margin 10,6% 10,9% +30 bp
Non-recurring items -16 -15
Financial charges -85 -86
Income tax -266 -256
Minority interests -66 -84
Net earnings of equity
method companies 15 21
Net Result 352 375 +6.5%
Earnings per share (f.d)
Published 2.50 2.65 +6.0%
Before goodwill
amortization 2.95 3.20 +8.5%
Operating cash flow 790 801
Shareholder's equity
(including minorities) 7,408 8,280
Net debt 4,562 4,764
Gearing Ratio 62% 58%
* like-for-like
Financial Publications for 2002 2001 Final Audited Results: February 18 2002 First Quarter Sales: April 23 Shareholder's Annual Meeting, in Paris: April 25