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    BN   FR0000120644

DANONE

(BN)
  Report
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Danone : Interim financial report 2021

07/29/2021 | 01:57am EDT

2021

INTERIM FINANCIAL

REPORT

DANONE

A FRENCH CORPORATION (SOCIÉTÉ ANONYME) WITH SHARE CAPITAL OF €171,910,000

REGISTERED OFFICE: 17, BOULEVARD HAUSSMANN, 75009 PARIS

PARIS TRADE AND CORPORATE REGISTER NUMBER: 552 032 534

2021

INTERIM FINANCIAL

REPORT

FOR THE SIX-MONTH PERIOD

ENDED JUNE 30, 2021

The English version of the 2021 Interim financial report is a free translation from the original which was prepared in French. The original French version of the document prevails over this translation.

This Interim financial report is available on Danone's website: www.danone.com

Contents

1. Interim management report..........................................................................................................................................

3

1.1 H1 2021 business review and 2021 outlook...........................................................................................................

4

Business highlights....................................................................................................................................................

4

Consolidated net income review ...............................................................................................................................

6

Free cash flow.............................................................................................................................................................

9

Balance sheet review..................................................................................................................................................

9

Outlook for 2021........................................................................................................................................................

10

Financial indicators not defined in IFRS.................................................................................................................

11

1.2 Related party transactions ....................................................................................................................................

11

2. Condensed interim consolidated financial statements ...........................................................................................

12

2.1 Consolidated financial statements .......................................................................................................................

12

Consolidated income statement and earnings per share .....................................................................................

12

Consolidated statement of comprehensive income ..............................................................................................

13

Consolidated balance sheet ....................................................................................................................................

14

Consolidated statement of cash flows....................................................................................................................

16

Consolidated statement of changes in equity........................................................................................................

17

2.2 Notes to the condensed interim consolidated financial statements .................................................................

18

Note 1. Accounting principles .................................................................................................................................

19

Note 2. Highlights of the period...............................................................................................................................

20

Note 3. Local First plan for Danone's new organization .......................................................................................

21

Note 4. Fully consolidated companies....................................................................................................................

22

Note 5. Investments in associates...........................................................................................................................

23

Note 6. Information concerning recurring operating activities.............................................................................

24

Note 7. Information and events concerning non-recurring operating activities .................................................

26

Note 8. Income tax ....................................................................................................................................................

26

Note 9. Intangible assets: measurement review ....................................................................................................

27

Note 10. Financing and net debt..............................................................................................................................

29

Note 11. Earnings per share - Group share ...........................................................................................................

30

Note 12. Other provisions and non-current liabilities; legal and arbitration proceedings .................................

30

Note 13. Main related party transactions ................................................................................................................

31

Note 14. Subsequent events ....................................................................................................................................

31

Statutory Auditor's review report on interim financial information............................................................................

32

Statement of the person responsible for the interim financial report ........................................................................

33

DANONE - Interim Financial Report 2021 - 2

1. Interim management report

Unless otherwise noted:

all references herein to the "Company" refer to Danone as issuer;

all references herein to the "Group", the "Company" or "Danone" refer to the Company and its consolidated subsidiaries;

all references herein to "Reporting Entity", "Reporting Entities" refer to one or more of Danone's Essential Dairy and Plant-Based or "EDP", Specialized Nutrition and Waters activities;

all references herein to the "Europe and Noram" zone refer to the region that includes Europe except CIS (Commonwealth of Independent States), the United States and Canada;

all references herein to the Rest of World zone refer to the region that includes the Latin America, Asia Pacific, Africa, Middle East and CIS regions;

all references herein to "Consolidated financial statements, Notes to consolidated financial statements" refer to condensed interim consolidated financial statements for the six-month period ended June 30, 2021;

amounts are expressed in millions of euros and rounded to the nearest million. Generally speaking, the values presented are rounded to the nearest unit. Consequently, the sum of the rounded amounts may differ, albeit to an insignificant extent, from the reported total. In addition, ratios and variances are calculated on the basis of the underlying amounts and not on the basis of the rounded amounts.

Danone reports on financial indicators not defined by IFRS, internally (among indicators used by the chief operating decision makers) and externally. These indicators are defined in section Financial indicators not defined in IFRS:

like-for-like changes in sales, recurring operating income, recurring operating margin; recurring operating income;

recurring operating margin; recurring effective tax rate; recurring net income; recurring EPS;

free cash flow; net financial debt.

DANONE - Interim Financial Report 2021 - 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Groupe Danone SA published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:56:09 UTC.


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Financials
Sales 2021 23 759 M 27 796 M 27 796 M
Net income 2021 1 908 M 2 232 M 2 232 M
Net Debt 2021 10 945 M 12 804 M 12 804 M
P/E ratio 2021 19,2x
Yield 2021 3,28%
Capitalization 38 664 M 45 274 M 45 234 M
EV / Sales 2021 2,09x
EV / Sales 2022 1,98x
Nbr of Employees 100 383
Free-Float 92,0%
Chart DANONE
Duration : Period :
Danone Technical Analysis Chart | BN | FR0000120644 | MarketScreener
Technical analysis trends DANONE
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 59,41 €
Average target price 62,72 €
Spread / Average Target 5,57%
EPS Revisions
Managers and Directors
Antoine Bernard de Saint-Affrique Chief Executive Officer
Juergen Esser Chief Financial, Technology & Data Officer
Gilles Schnepp Non-Executive Chairman
Domitille Doat-Le Bigot Chief Digital Officer
Jean-Michel SÚvÚrino Lead Independent Director
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