Financials Danone

Equities

Real-time Euronext Paris Other stock markets 11:37:25 10/12/2025 GMT			5-day change	1st Jan Change
75.52 ^EUR	-0.19%		-1.44%	+15.97%

12-09	DANONE : Gets a Neutral rating from Bernstein	ZD
12-08	Tata Consumer Products Reportedly in Advanced Discussions to Acquire Danone SA?s India Nutraceuticals and Specialised Nutrition Portfolio	CI

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	23,620	24,281	27,661	27,619	27,376	27,418	28,243	29,350
Change	-	2.8%	13.92%	-0.15%	-0.88%	0.15%	3.01%	3.92%
EBITDA ¹	4,769	4,602	5,240	5,092	4,726	4,782	5,031	5,307
Change	-	-3.5%	13.86%	-2.82%	-7.19%	1.18%	5.21%	5.48%
EBIT ¹	3,317	3,337	3,377	3,481	3,558	3,703	3,917	4,163
Change	-	0.6%	1.2%	3.08%	2.21%	4.08%	5.76%	6.29%
Interest Paid ¹	-310	-267	-291	-307	-305	-338.9	-320	-308.2
Earnings before Tax (EBT) ¹	2,488	1,995	1,832	1,686	2,999	3,199	3,520	3,798
Change	-	-19.82%	-8.17%	-7.97%	77.88%	6.66%	10.05%	7.88%
Net income ¹	1,956	1,924	959	881	2,021	2,239	2,472	2,654
Change	-	-1.64%	-50.16%	-8.13%	129.4%	10.81%	10.39%	7.37%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	5,821	5,628	5,657	6,171	6,158	6,242	6,236	7,067	7,334	7,007	6,962	7,235	6,906	6,655	6,789	6,938	6,826	6,823	6,844	6,913	6,876	6,646
Change	-	-3.32%	0.52%	9.09%	-0.21%	1.36%	-0.1%	13.33%	3.78%	-4.46%	-0.64%	3.92%	-4.55%	-3.63%	2.01%	2.19%	-1.61%	-0.04%	0.31%	1.01%	-0.54%	-3.34%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	19/10/20	19/02/21	20/04/21	29/07/21	19/10/21	23/02/22	20/04/22	27/07/22	27/10/22	22/02/23	26/04/23	26/07/23	26/10/23	22/02/24	18/04/24	31/07/24	24/10/24	26/02/25	23/04/25	30/07/25	28/10/25	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	11,835	12,446	13,325	14,336	14,167	13,452	13,757	13,619	13,737	13,684
Change	-	5.16%	7.06%	7.59%	-1.18%	-5.05%	2.27%	-1%	0.87%	-0.39%
EBITDA ¹	2,112	2,490	2,158	2,424	2,267	2,825	2,298	2,428	2,452	2,502
Change	-	17.9%	-13.33%	12.33%	-6.48%	24.61%	-18.65%	5.66%	0.99%	2.04%
EBIT ¹	1,551	1,786	1,612	1,765	1,734	1,747	1,746	1,812	1,811	1,881
Change	-	15.15%	-9.74%	9.49%	-1.76%	0.75%	-0.06%	3.78%	-0.06%	3.87%
Charge d'intérêts ¹	-129	-137	-	-144	-141	-166	-151	-154	-138	-147
Earnings before Tax (EBT)	-	-	-	-	1,525	161	1,654	1,345	1,388	-
Change	-	-	-	-	-	-89.44%	927.33%	-18.68%	3.2%	-
Net income	-	-	-	-	1,093	-212	1,219	802	1,040	-
Change	-	-	-	-	-	-119.4%	675%	-34.21%	29.68%	-
Announcement Date	29/07/21	23/02/22	27/07/22	22/02/23	26/07/23	22/02/24	31/07/24	26/02/25	30/07/25	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	11,941	10,500	10,107	10,221	8,601	7,949	7,116	6,232
Change	-	-12.07%	-3.74%	1.13%	-15.85%	-7.58%	-10.48%	-12.42%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	962	1,043	873	847	923	1,009	1,066	1,120
Change	-	8.42%	-16.3%	-2.98%	8.97%	9.34%	5.62%	5.1%
Free Cash Flow (FCF) ¹	2,052	2,431	2,091	2,633	3,003	2,492	2,701	2,852
Change	-	18.47%	-13.99%	25.92%	14.05%	-17.03%	8.42%	5.59%
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	20.19%	18.95%	18.94%	18.44%	17.26%	17.44%	17.81%	18.08%
EBIT Margin (%)	14.04%	13.74%	12.21%	12.6%	13%	13.51%	13.87%	14.18%
EBT Margin (%)	10.53%	8.22%	6.62%	6.1%	10.95%	11.67%	12.46%	12.94%
Net margin (%)	8.28%	7.92%	3.47%	3.19%	7.38%	8.17%	8.75%	9.04%
FCF margin (%)	8.69%	10.01%	7.56%	9.53%	10.97%	9.09%	9.56%	9.72%
FCF / Net Income (%)	104.91%	126.35%	218.04%	298.86%	148.59%	111.27%	109.28%	107.46%
Profitability
ROA	4.44%	4.96%	4.86%	5.09%	4.5%	5.04%	5.47%	5.77%
ROE	11.7%	11.49%	12.53%	13.39%	13.81%	13.39%	13.93%	14.41%
Financial Health
Leverage (Debt/EBITDA)	2.5x	2.28x	1.93x	2.01x	1.82x	1.66x	1.41x	1.17x
Debt / Free cash flow	5.82x	4.32x	4.83x	3.88x	2.86x	3.19x	2.63x	2.18x
Capital Intensity
CAPEX / Current Assets (%)	4.07%	4.3%	3.16%	3.07%	3.37%	3.68%	3.77%	3.82%
CAPEX / EBITDA (%)	20.17%	22.66%	16.66%	16.63%	19.53%	21.1%	21.19%	21.11%
CAPEX / FCF (%)	46.88%	42.9%	41.75%	32.17%	30.74%	40.5%	39.46%	39.28%
Items per share
Cash flow per share ¹	4.565	5.374	4.635	5.364	5.945	4.956	5.331	6.045
Change	-	17.73%	-13.75%	15.72%	10.83%	-16.64%	7.56%	13.41%
Dividend per Share ¹	1.94	1.94	2	2.1	2.15	2.248	2.386	2.55
Change	-	0%	3.09%	5%	2.38%	4.56%	6.15%	6.85%
Book Value Per Share ¹	24.94	27.07	28.02	25.2	25.1	28.73	30.32	32.12
Change	-	8.54%	3.52%	-10.07%	-0.4%	14.46%	5.54%	5.92%
EPS ¹	2.99	2.94	1.48	1.3	3.13	3.521	3.924	4.218
Change	-	-1.67%	-49.66%	-12.16%	140.77%	12.49%	11.44%	7.49%
Nbr of stocks (in thousands)	649,380	650,849	626,246	641,543	643,653	645,998	645,998	645,998
Announcement Date	19/02/21	23/02/22	22/02/23	22/02/24	26/02/25	-	-	-