Slide 1: Q1 2023 Sales
DANONe@ ONE PLANET. ONE HEALTH Q1 2023 SALES April 26, 2023
Slide 2: Disclaimer
DISCLAIMER - This presentation contains certain forward-looking statements concerning Danone. In some cases, you can identify these forward-looking statements by forward-looking words, such as “estimate”, “expect”, “anticipate”, “project”, “plan”, “intend”, “objective”, “believe”, “forecast”, “guida
Slide 3: Q1 2023 Highlights
Q1 2023 HIGHLIGHTS Juergen Esser Chief Financial Officer FINANCIAL REVIEW 3
Slide 4: Q1 Highlights: Strong Start to the Year
Q1 HIGHLIGHTS STRONG START TO THE YEAR Europe +6.2% +9.3% North America +11.8% China, North Asia & Oceania +16.0% +12.0% +10.5% Latin America +12.6% LFL sales growth in Q1 23 +12.0% Rest of the World +11.8% Note: all data in like-for-like 4
Slide 5: Q1 Highlights: Focusing on Consistent Delivery
Q1 HIGHLIGHTS FOCUSING ON CONSISTENT DELIVERY CONTINUING TO WIN IN EXECUTING EDP EUROPE PORTFOLIO SEEDING THE STRONGHOLDS TRANSFORMATION FUTURE €/kg Danone brand Stepping-up R&I segmentation capabilities Bolt-on acquisition and minority investments 5
Slide 6: Financial Review
FINANCIAL REVIEW Juergen Esser Chief Financial Officer FINANCIAL REVIEW 6
Slide 7: Q1 Sales Bridge
Q1 SALES BRIDGE +11.6% REPORTED SALES GROWTH IN Q1 REPORTED GROWTH +11.6% +10.1% €6,962m • % +1.8% €6,236m -0.6% -1.3% +1.1% of which +0.7% from currencies LFL GROWTH EXCL. EDP RUSSIA: +11.1% TOTAL LFL GROWTH: +10.5% +0.2% VOL/MIX | +10.3% PRICE Q1 2022 Currency Scope EDP Russia Volume/mix Price Q1
Slide 8: Europe
EUROPE SOLID GROWTH LED BY ALL CATEGORIES; MAKING PROGRESS ON EDP PORTFOLIO TRANSFORMATION Q1 2023 KEY FIGURES Q1 DEVELOPMENTS NET SALES €2.2bn • Performance led by France, UK and Poland LIKE-FOR-LIKE SALES GROWTH +6.2% • Growth driven by Danone, Actimel, Aptamil, evian and Alpro brands Volume-Mix /
Slide 9: North America
NORTH AMERICA CONTINUED STRONG AND BALANCED GROWTH MOMENTUM Q1 2023 KEY FIGURES Q1 DEVELOPMENTS NET SALES €1.7bn • Consistent execution and re-investments, competitive growth in Yogurt, LIKE-FOR-LIKE SALES GROWTH +11.8% Creamers and RTD Coffee Volume-Mix / Price +0.8% / +11.0% • Core brands leading
Slide 10: China, North Asia and Oceania
CHINA, NORTH ASIA AND OCEANIA STRONG GROWTH LED BY ALL CATEGORIES Q1 2023 KEY FIGURES Q1 DEVELOPMENTS NET SALES €0.8bn • Solid start to the year for Infant Nutrition in China fueled by higher shipments LIKE-FOR-LIKE SALES GROWTH +16.0% • Strong double-digit growth in Adult Nutrition and Pediatric Sp
Slide 11: Latin America
LATIN AMERICA BROAD-BASED GROWTH WITH RESILIENT VOLUME/MIX Q1 2023 KEY FIGURES Q1 DEVELOPMENTS NET SALES €0.7bn • Growth led by Mexico and Brazil with resilient volumes LIKE-FOR-LIKE SALES GROWTH +12.6% • Dairy performance led by Danone, Activia, Danette and YoPro Volume-Mix / Price -0.1% / +12.7% •
Slide 12: Rest of the World
REST OF THE WORLD STRONG START TO THE YEAR ON A LOW BASE Q1 2023 KEY FIGURES Q1 DEVELOPMENTS NET SALES €1.5bn • Positive vol/mix excl. EDP Russia, benefitting notably from calendar effects LIKE-FOR-LIKE SALES GROWTH +11.8% • Mid-teens growth in South-East Asia on a low base Volume-Mix / Price -1.1%
Slide 13: Full-Year 2023 Outlook
FULL-YEAR 2023 OUTLOOK Juergen Esser Chief Financial Officer FINANCIAL REVIEW 13
Slide 14: Upgrade of 2023 Guidance
UPGRADE OF 2023 GUIDANCE LFL Sales Growth +4 to +6% Recurring Operating Margin Moderate improvement 14
Slide 15: Appendix
APPENDIX DANONG ONE PLANET. ONE HEALTH 15
Slide 16: Q1 2023 Sales by Geographical Zone
Q1 2023 SALES BY GEOGRAPHICAL ZONE EUROPE NORTH CHINA, NORTH LATIN REST OF COMPANY AMERICA ASIA & OCEANIA AMERICA THE WORLD €2,248m €1,714m €824m €689m €1,486m €6,962m Q1 net sales Like-for-like growth +6.2% +11.8% +16.0% +12.6% +11.8% +10.5% Volume/Mix -4.0% +0.8% +14.3% -0.1% -1.1% +0.2% Price +10
Slide 17: Q1 2023 Sales by Category
Q1 2023 SALES BY CATEGORY COMPANY €3,768m €2,143m €1,051m €6,962m Q1 net sales Like-for-like growth +9.3% +12.0% +12.0% +10.5% Volume/Mix -3.2% +5.4% +2.5% +0.2% Price +12.5% +6.6% +9.5% +10.3% 17
Slide 18: Q1 2023 Sales by Geographical Zone by Category
Q1 2023 SALES BY GEOGRAPHICAL ZONE BY CATEGORY EUROPE NORTH CHINA, NORTH AMEA, CIS & COMPANY AMERICA ASIA & OCEANIA LATIN AMERICA EDP Sales €1,067m €1,567m €85m €1049m €3,768m LFL growth +5.3% +11.8% +19.5% +8.6% +9.3% SPECIALIZED NUTRITION Sales €752m €86m €609m €696m €2,143m LFL growth +2.5% +6.7%
Slide 19: Q1 2023 Sales by Geographical Zone
Q1 2023 SALES BY GEOGRAPHICAL ZONE CHINA, NORTH LATIN REST OF EUROPE NORTH AMERICA TOTAL ASIA & OCEANIA AMERICA THE WORLD Like-for-like sales growth +6.2% +11.8% +16.0% +12.6% +11.8% +10.5% Scope +0.1% +0.0% -0.0% -6.8% -0.0% -0.6% Currency and others1 -1.4% +4.2% -3.8% -0.4% +2.3% +0.6% IAS 29 impa
Slide 20: Changes in Exchange Rates
CHANGES IN EXCHANGE RATES % total Q1 2023 Q1 23 vs Q1 22 (avg) United States Dollar 24.7% 4.5% Chinese Renminbi 9.0% -3.1% Indonesian Rupiah 6.7% -1.5% Russian Ruble 5.3% 25.5% British Pound 5.0% -5.3% Mexican Peso 4.7% 14.8% Canadian Dollar 2.7% -2.2% Brazilian Real 2.7% 5.3% Polish Zloty 2.3% -1.8