Global manufacturer Danone has released its full year results for 2024, reporting “strong momentum” in its protein category.
The company found its FY 2024 sales had reached €27,376 million, up 4.3% on a like-for-like basis. Its operating income was €3,379 million, up 65.4% from the FY 2023 rate of €2,042 million.
As of 31st December 2024, Danone’s net debt stood at €8.6 billion, which it said was a “significant” decrease from its year earlier debt of €10.2 billion.
Sales in Europe were up 1.8% in Q4 2024, while North America sales increased by 7.7%. China, North Asia and Oceania sales were up 6.8%, Latin America saw sales increase by 4.7%, and the rest of the world found sales were up by 5.4%.
Antoine de Saint-Affrique, CEO of Danone, said: “We close the first chapter of Renew Danone with a strong set of results, fully delivering on our 2022 mid-term guidance. In 2024, the quality of our growth has further improved, reaching +4.3% like-for-like sales growth driven by +3% volume/mix.
“This allowed us to drive operating leverage, enabling us to further reinvest in our brands and capabilities, and support the growth of our categories while maintaining a strong financial discipline. Our focus on value creation and return-oriented capital allocation led to a significant improvement of our ROIC, now back into double-digit territory.
“We believe that the food industry is at a tipping point. Our unique, health-driven portfolio, our renewed focus on science to the service of consumers and patients, our strong brand portfolio and a continuous improvement mindset give us the confidence that we can seize this long-term market opportunity. We enter the next chapter as a stronger company, ready for more.”
