Danone: 2020 and 2021 key indicators restated by new operating segments
30 Mars 2022 - 7:42AM
Danone: 2020 and 2021 key indicators restated by new operating
segments
Press Release – Paris, March 30, 2022
2020 and 2021 key indicators restated by
new operating segments
As announced on March 8, 2022, starting from
2022, Danone will report its key indicators (net sales,
like-for-like sales growth, recurring operating income and
recurring operating margin) according to its new operating
segments, corresponding to 4 zones1:
- Europe;
- North America which is comprised of the United States and
Canada;
- China, North Asia and Oceania which is comprised of China,
Japan, Australia and New Zealand;
- Rest of the World including South-East Asia, Latam, CIS,
Africa, Turkey and Middle-East.
The company will retain global category
reporting, on both net sales, recurring operating income and
margin, for EDP, Specialized Nutrition and Waters.
Danone will also adapt the way it reports
organic sales growth: from now on, the Mix component will be
grouped with Volumes, instead of Price.
Please refer to the restated 2020 and 2021
indicators (non-audited) by new operating segments below.
2020 and 2021 sales restated by new operating
segments
| |
2020 |
2021 |
| |
Q1 2020 |
Q2 2020 |
Q3 2020 |
Q4 2020 |
FY 2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Q4 2021 |
FY 2021 |
|
BY GEOGRAPHICAL ZONE |
|
|
|
|
|
|
|
|
|
|
|
|
Europe |
2,127 |
1,995 |
2,048 |
1,987 |
8,156 |
1,987 |
2,155 |
2,122 |
2,077 |
8,341 |
|
North America |
1,375 |
1,392 |
1,325 |
1,300 |
5,392 |
1,316 |
1,391 |
1,413 |
1,443 |
5,564 |
|
China, North Asia & Oceania |
684 |
841 |
707 |
617 |
2,848 |
598 |
832 |
801 |
777 |
3,008 |
|
Rest of the World |
2,056 |
1,727 |
1,741 |
1,725 |
7,225 |
1,756 |
1,793 |
1,822 |
1,944 |
7,369 |
|
BY CATEGORY |
|
|
|
|
|
|
|
|
|
|
|
|
EDP |
3,364 |
3,238 |
3,108 |
3,131 |
12,823 |
3,149 |
3,254 |
3,269 |
3,386 |
13,090 |
|
Specialized Nutrition |
1,949 |
1,792 |
1,698 |
1,753 |
7,192 |
1,719 |
1,793 |
1,777 |
1,931 |
7,230 |
|
Waters |
928 |
925 |
1,015 |
743 |
3,605 |
790 |
1,125 |
1,112 |
925 |
3,961 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
6,242 |
5,954 |
5,821 |
5,628 |
23,620 |
5,657 |
6,171 |
6,158 |
6,242 |
24,281 |
| |
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2021 like-for-like sales growth restated by new
operating segments and new volume/mix disclosure
| |
First quarter 2021 |
Second quarter 2021 |
Third quarter 2021 |
Fourth quarter 2021 |
Full Year 2021 |
|
| |
Like-for-like change |
Volume/mix change |
Like-for-like change |
Volume/mix change |
Like-for-like change |
Volume/mix change |
Like-for-like change |
Volume/mix change |
Like-for-like change |
Volume/mix change |
|
|
BY GEOGRAPHICAL ZONE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe |
-6.1% |
-5.1% |
+7.1% |
+6.2% |
+2.8% |
+2.1% |
+3.5% |
+2.5% |
+1.7% |
+1.3% |
|
North America |
+2.5% |
+0.9% |
+5.2% |
+5.0% |
+5.3% |
+4.0% |
+5.8% |
+3.9% |
+4.7% |
+3.4% |
|
China, North Asia & Oceania |
-10.9% |
-10.4% |
+1.3% |
+0.0% |
+10.0% |
+12.6% |
+19.3% |
+19.3% |
+4.6% |
+5.0% |
|
Rest of the World |
-1.3% |
-4.8% |
+10.0% |
+5.9% |
+1.3% |
-2.3% |
+6.3% |
+0.2% |
+4.0% |
-0.3% |
|
BY CATEGORY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EDP |
+1.6% |
+0.2% |
+4.8% |
+3.9% |
+4.1% |
+1.7% |
+4.3% |
+0.9% |
+3.7% |
+1.6% |
|
Specialized Nutrition |
-7.7% |
-8.8% |
+2.8% |
+1.4% |
+2.9% |
+3.2% |
+6.4% |
+6.0% |
+1.0% |
+0.3% |
|
Waters |
-11.6% |
-10.5% |
+19.5% |
+15.3% |
+4.6% |
+4.2% |
+17.3% |
+12.8% |
+7.2% |
+5.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
-3.3% |
-4.3% |
+6.6% |
+4.9% |
+3.8% |
+2.6% |
+6.7% |
+4.0% |
+3.4% |
+1.8% |
| |
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2020 and 2021 recurring operating income and margin
restated by new operating segments
| Net sales (€m), recurring
operating profit (€m) and recurring operating margin (%) |
H1 2020 |
FY 2020 |
H1 2021 |
FY 2021 |
|
Net sales (€m) |
Operating profit (€m) |
Margin (%) |
Net sales (€m) |
Operating profit (€m) |
Margin (%) |
Net sales (€m) |
Operating profit (€m) |
Margin (%) |
Net sales (€m) |
Operating profit (€m) |
Margin (%) |
|
BY GEOGRAPHICAL ZONE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe |
4,121 |
631 |
15.3% |
8,156 |
1,221 |
15.0% |
4,142 |
625 |
15.1% |
8,341 |
1,291 |
15.5% |
|
North America |
2,767 |
277 |
10.0% |
5,392 |
631 |
11.7% |
2,707 |
283 |
10.4% |
5,564 |
603 |
10.8% |
|
China, North Asia & Oceania |
1,525 |
504 |
33.0% |
2,848 |
904 |
31.8% |
1,430 |
423 |
29.6% |
3,008 |
939 |
31.2% |
|
Rest of the World |
3,777 |
290 |
7.7% |
7,225 |
561 |
7.8% |
3,556 |
221 |
6.2% |
7,369 |
504 |
6.8% |
|
BY CATEGORY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EDP |
6,599 |
598 |
9.1% |
12,823 |
1,303 |
10.2% |
6,406 |
584 |
9.1% |
13,090 |
1,287 |
9.8% |
|
Specialized Nutrition |
3,739 |
987 |
26.4% |
7,192 |
1,763 |
24.5% |
3,513 |
804 |
22.9% |
7,230 |
1,697 |
23.5% |
|
Waters |
1,851 |
117 |
6.3% |
3,605 |
251 |
7.0% |
1,916 |
163 |
8.5% |
3,961 |
353 |
8.9% |
|
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|
Total |
12,189 |
1,702 |
14.0% |
23,620 |
3,317 |
14.0% |
11,835 |
1,551 |
13.1% |
24,281 |
3,337 |
13.7% |
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APPENDIX
Financial indicators not defined in IFRS
Like-for-like changes in sales,
recurring operating income and recurring operating margin reflect
Danone's organic performance and essentially exclude the impact
of:
- changes in consolidation scope, with indicators related to a
given fiscal year calculated on the basis of previous-year scope,
both previous-year and current-year scopes excluding entities in
countries under hyperinflation according to IAS 29 during the
previous year (as for Argentinian entities since January 1st,
2019);
- changes in applicable accounting principles;
- changes in exchange rates with both previous-year and
current-year indicators calculated using the same exchange rates
(the exchange rate used is a projected annual rate determined by
Danone for the current year and applied to both previous and
current years).
Recurring operating income is
defined as Danone’s operating income excluding Other operating
income and expenses. Other operating income and expenses comprise
items that, because of their significant or unusual nature, cannot
be viewed as inherent to Danone’s recurring activity and have
limited predictive value, thus distorting the assessment of its
recurring operating performance and its evolution. These mainly
include:
- capital gains and losses on disposals of fully consolidated
companies;
- impairment charges on intangible assets with indefinite useful
lives;
- costs related to strategic restructurings or transformation
plans;
- costs related to major external growth transactions;
- costs related to major crisis and major litigations;
- in connection with of IFRS 3 (Revised) and IAS 27 (Revised)
relating to business combinations, (i) acquisition costs related to
business combinations, (ii) revaluation profit or loss accounted
for following a loss of control, and (iii) changes in earn-outs
relating to business combinations and subsequent to acquisition
date.
Recurring operating margin is
defined as Recurring operating income over Sales ratio.
1 As part of the new organization, the management of some
entities has been changed, leading to the reallocation of €143m of
Net Sales to Europe and North America zones in FY 2021 (from the
previously known Rest of the World region).All references in this
document to like-for-like sales growth, recurring operating income
and recurring operating margin correspond to financial indicators
not defined in IFRS. Their definitions, as well as their
reconciliation with financial statements, are listed on page 4.
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