Vladimír Urbánek (Kurzy.cz)
World markets  |  February 19, 2013 09:51:24

Results for Danone r.2012 just above estimates, decrease margins, firm lays off 900 employees


The world's leading food company, Swiss Group Danone, recorded last year, net earnings from ongoing operations at mld.EUR 1.82 compared to 1.75 billion in 2011, compared with market expectations mld.EUR set to 1.81. Total sales grew by 5.4% yoy for the first time in the history of exceeding the 20 mld.EUR.
Operating margin decreased by 0.5 percentage points to 14.2%.

Q4 revenues grew by 4.9% compared to the expected market growth of 3.7%. Revenues from the sale of "daily products" such as yoghurt, Actimel and others grew in Q4 by 1.3%. This division generates more than half of the total income of the company.
Bottled water division recorded a revenue growth of 8.5% due to the significant growth of interest in developing markets.
Infant nutrition division recorded a revenue growth of 12%.

The company's management has announced that due to a decrease margins reduce the number of employees in the plants by 900 people. The plan aims to save over the next two years, about 200 million euros.

The management said that this year's sales expected to rise at least 5%, operating margin should decline further by about 0.3-0.5%. Market conditions remain poor in Europe, outside the contrast better.
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Výsledky Danone za r.2012 těsně nad odhady, pokles marží, firma propustí 900 zaměstnanců

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