Danone FY18 Reported Net Income Down 4.1%
French food company Danone SA (DANOY.OB) on Tuesday reported that its full-year 2018 net income, Group share, declined 4.1 percent to 2.35 billion euros from 2.45 billion euros last year. Earnings per share declined 7 percent to 3.63 euros from 3.90 euros last year.
However, recurring net income, group share, increased 5.4 percent to 2.30 billion euros from 2.19 billion euros, and recurring earnings per share rose 2.2 percent to 3.56 euros from 3.48 euros last year.
Sales for the full year decreased 0.7 percent to 24.65 billion euros from 24.81 billion euros last year, while it rose 2.9 percent on like-for-like basis.
Sales grew by 3.6 percent in value, led by a continued mix and portfolio valorization, largely offsetting a 0.7 percent decline in volumes.
The Group said that at the Annual General meeting on April 25, 2019, Danone's board will propose to shareholders to approve the distribution of a 1.94 euros dividend per share in cash in respect of the 2018 fiscal year.
For the year 2019, Danone is targeting like-for-like sales growth of around 3 percent, and recurring operating margin of above 15 percent.
Danone said that in 2019, it will continue to progress towards its 2020 objectives by strengthening its operating model through its priorities: accelerate growth, maximize efficiencies and allocate capital with discipline.
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