Slide 1: Q3 2023 Sales
Q3 2023 SALES Juergen Esser Chief Financial Officer 1
Slide 2: Q3 Highlights: Renew Danone starts yielding results
Q3 HIGHLIGHTS RENEW DANONE STARTS YIELDING RESULTS PRICE NORMALIZATION VOL/MIX IMPROVEMENT +6.2% +9.9% +9.4% + 6.6% -1.1% 0.3% - SOLID LFL SALES GROWTH IN Q3 -2.5% H2 22 H1 23 Q3 23 H2 22 H1 23 Q3 23 2
Slide 3: Q3 Highlights: Broad-based growth while improving EDP volume/mix
Q3 HIGHLIGHTS DELIVERING BROAD-BASED GROWTH WHILE SEQUENTIALLY IMPROVING EDP VOLUME/MIX LFL growth LFL growth LFL growth +6.3% +5.7% +7.0% Volume/mix Volume/mix Volume/mix -0.8% +0.3% -0.2% -3.3% -5.9% H2 22 H1 23 Q3 23 Q3 23 Q3 23 3
Slide 4: Q3 Highlights: Driving portfolio of core, underperformers and winners
Q3 HIGHLIGHTS ACTIVELY DRIVING OUR PORTFOLIO OF CORE, UNDERPERFORMERS AND WINNERS EDP EUROPE TRANSFORMATION MIZONE BOOSTING MEDICAL NUTRITION STARTS DELIVERING RESULTS TURNAROUND PORTFOLIO REACH ~20% # SKUs +13.9% delisted vs LY Investing in capacity Distribution YTD market share YTD LFL growth Expa
Slide 5: Q3 Sales Bridge
Q3 SALES BRIDGE REPORTED GROWTH IMPACTED BY SCOPE AND FOREX NEGATIVE EFFECTS LFL GROWTH: +6.2% +6.6% -5.8% €7,334m -0.3% -6.2% of which -7.4% from currencies €6,906m : REPORTED GROWTH -5.8% Q3 2022 Volume/mix Price Currency Scope Q3 2023 Net Sales and others1 Net Sales 5 1. Includes IAS 29 and contr
Slide 6: All Geographies Contributing to Growth in Q3
ALL GEOGRAPHIES CONTRIBUTING TO GROWTH IN Q3 Europe +5.1% North America +3.9% China, North Asia & Oceania +8.4% Latin America +8.2% Rest of the World +9.7% 6 Note: all data in like-for-like
Slide 7: Europe
EUROPE CONTINUED BROAD-BASED GROWTH WHILE TRANSFORMING Q3 2023 KEY FIGURES Q3 DEVELOPMENTS Q3 23 NET SALES €2.4bn • EDP transformation in Europe starts delivering results LIKE-FOR-LIKE SALES GROWTH +5.1% • Resilient growth in Specialized Nutrition Volume-Mix / Price -4.1% / +9.2% • Continued market
Slide 8: North America
NORTH AMERICA RESILIENT GROWTH LED BY COFFEE CREATIONS AND YOGURTS Q3 2023 KEY FIGURES Q3 DEVELOPMENTS Q3 23 NET SALES €1.7bn • Resilient volume/mix, price normalization LIKE-FOR-LIKE SALES GROWTH +3.9% • Continued strong performance in Coffee Creations and Yogurts, led by Volume-Mix / Price -0.2% /
Slide 9: China, North Asia and Oceania
CHINA, NORTH ASIA AND OCEANIA STRONG GROWTH LED BY ALL CATEGORIES Q3 2023 KEY FIGURES Q3 DEVELOPMENTS Q3 23 NET SALES €0.9bn • Continued solid performance in IMF, while further strengthening Medical LIKE-FOR-LIKE SALES GROWTH +8.4% Nutrition Volume-Mix / Price +7.3% / +1.2% • Mizone turning around:
Slide 10: Latin America
LATIN AMERICA BROAD-BASED PRICE-LED GROWTH Q3 2023 KEY FIGURES Q3 DEVELOPMENTS Q3 23 NET SALES €0.8bn • Broad-based growth across all geographies and categories LIKE-FOR-LIKE SALES GROWTH +8.2% • EDP performance led by Danone, Oikos and Yopro Volume-Mix / Price -1.8% / +10.0% • Solid growth in Bonaf
Slide 11: Rest of the World
REST OF THE WORLD SOLID BALANCED GROWTH LED BY SPECIALIZED NUTRITION Q3 2023 KEY FIGURES Q3 DEVELOPMENTS Q3 23 NET SALES €1.1bn • Growth led by Specialized Nutrition in South-East Asia and India LIKE-FOR-LIKE SALES GROWTH +9.7% • Resilient performance for Waters in Indonesia Volume-Mix / Price +1.9%
Slide 12: 2023 Guidance Raised
2023 GUIDANCE RAISED LFL Sales Growth +6% to +7% 1 Recurring Operating Margin Moderate improvement 12 1. Versus +4% to +6% previously
Slide 13: Appendix
APPENDIX 13
Slide 14: Q3 2023 Sales by Geographical Zone
Q3 2023 SALES BY GEOGRAPHICAL ZONE EUROPE NORTH CHINA, NORTH LATIN REST OF COMPANY AMERICA ASIA & OCEANIA AMERICA THE WORLD Q3 net sales €2,392m €1,747m €896m €771m €1,100m €6,906m Like-for-like growth +5.1% +3.9% +8.4% +8.2% +9.7% +6.2% Volume/Mix -4.1% -0.2% +7.3% -1.8% +1.9% -0.3% Price +9.2% +4.
Slide 15: Q3 2023 Sales by Category
Q3 2023 SALES BY CATEGORY COMPANY Q3 net sales €3,474m €2,070m €1,362m €6,906m Like-for-like growth +6.3% +5.7% +7.0% +6.2% Volume/Mix -0.8% +0.3% -0.2% -0.3% Price +7.1% +5.3% +7.2% +6.6% 15
Slide 16: Q3 2023 Sales by Geographical Zone by Category
Q3 2023 SALES BY GEOGRAPHICAL ZONE BY CATEGORY EUROPE NORTH CHINA, NORTH AMEA, CIS & COMPANY AMERICA ASIA & OCEANIA LATIN AMERICA EDP Sales €1,067m €1,583m €90m €733m €3,474m LFL growth +6.6% +4.9% +14.6% +8.0% +6.3% SPECIALIZED NUTRITION Sales €766m €92m €573m €641m €2,070m LFL growth +3.0% -12.5%
Slide 17: 9M 2023 Sales by Geographical Zone
9M 2023 SALES BY GEOGRAPHICAL ZONE EUROPE NORTH CHINA, NORTH LATIN REST OF COMPANY AMERICA ASIA & OCEANIA AMERICA THE WORLD 9M net sales €7,069m €5,164m €2,674m €2,233m €3,977m €21,118m Like-for-like growth +5.9% +6.7% +11.0% +10.4% +8.3% +7.6% Volume/Mix -4.4% -0.7% +9.8% -1.3% -1.4% -0.8% Price +1
Slide 18: 9M 2023 Sales by Category
9M 2023 SALES BY CATEGORY COMPANY 9M net sales €10,973m €6,369m €3,775m €21,118m Like-for-like growth +7.2% +7.4% +9.3% +7.6% Volume/Mix -2.5% +1.2% +0.6% -0.8% Price +9.7% +6.2% +8.7% +8.5% 18
Slide 19: 9M 2023 Sales by Geographical Zone by Category
9M 2023 SALES BY GEOGRAPHICAL ZONE BY CATEGORY EUROPE NORTH CHINA, NORTH AMEA, CIS & COMPANY AMERICA ASIA & OCEANIA LATIN AMERICA EDP Sales €3,219m €4,690m €270m €2,794m €10,973m LFL growth +5.9% +7.2% +16.1% +8.1% +7.2% SPECIALIZED NUTRITION Sales €2,284m €264m €1,793m €2,028m €6,369m LFL growth +3
Slide 20: Q3 Sales Bridge by Geographical Zone
Q3 SALES BRIDGE BY GEOGRAPHICAL ZONE CHINA, NORTH LATIN REST OF EUROPE NORTH AMERICA TOTAL ASIA & OCEANIA AMERICA THE WORLD Like-for-like sales growth +5.1% +3.9% +8.4% +8.2% +9.7% +6.2% Scope +0.1% +0.0% +0.0% -5.3% -27.0% -6.2% Currency and others1 +0.2% -7.5% -13.1% -14.2% -16.6% -7.9% IAS 29 imp
Slide 21: Changes in Exchange Rates
CHANGES IN EXCHANGE RATES % total Q3 2023 Q3 23 vs Q3 22 (avg) United States Dollar 23.8% -7.0% Chinese Renminbi 10.4% -12.7% Indonesian Rupiah 6.0% -9.4% Mexican Peso 5.8% +10.4% British Pound 5.4% -0.3% Brazilian Real 2.9% -0.2% Polish Zloty 2.7% +5.6% Canadian Dollar 2.6% -9.7% Argentine Peso 1.9
Slide 22: 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