Danone confirmed its objectives for 2024 on Thursday after a turnover down 2.5% in the first quarter. Behind this decline lies the effect of the agri-food giant's withdrawal from Russia, as well as exchange rates.
The parent company of Activia yogurts, Evian waters, and Blédina small pots sold 6.79 billion euros worth of products over the period, which was more than expected by Bloomberg and FactSet analysts. But not taking these elements into account, Danone's turnover increased by 4.1%. On a like-for-like basis, it increased in all areas where the group is present, including its three key areas: Europe/North America/China, and in all its branches of activity. It is mainly the sale of its activities in Russia, separated from its accounts in July 2023 and for which the group obtained in March the Russian authorizations required to sell them to a businessman linked to the Chechen leader Ramzan Kadyrov, who weighed on its published turnover.