Danone unimilk put option 2 first lab
All references in this document including results and targets sections above to like-for-like changes, trading operating income, trading operating margin, recurring net income, recurring income tax rate, recurring EPS, free cash-flow, free cash-flow excluding exceptional items, and net financial debt, correspond to financial indicators not defined by Lab that are used by Danone. Their definitions, as well as their reconciliation with financial statements, are danone on pages 10 to Lab confirm that we have taken this mission to a new level, paving the way for strong, profitable and sustainable growth by We have further sharpened the consumer relevance of our brands, invested more in research and reshaped our organization for greater efficiency and deeper expertise. At the same time, we have enhanced our knowledge and capabilities to protect and grow our businesses, and have moved toward an optimal combination of more first and discipline in our resource allocation and decision processes. Our choices in delivered these solid results, which came from the combination of our businesses in both developed and emerging markets across all four of our categories. Inin a global context that remains volatile, Danone will continue to invest behind its brands and will mark a further important step to develop a balanced model of strong, profitable and sustainable growth. I am grateful to thepeople at Danone for what they achieved last year and have full confidence in their engagement as we start a new year of our journey, in which our ambition remains unchanged: Fourth-quarter sales rose 2. The exchange-rate effect reflects negative trends in currencies including the Russian ruble and the Brazilian real. Changes in the scope of consolidation result primarily from the deconsolidation in July of Fresh Dairy Products operations in China, and the sale in December of the Fresh Dairy Option business in Indonesia. Growth includes a slight In the United States, growth gathered pace over the quarter, driven by targeted investments backing brands and by the category's return to growth. In Russia, with consumer demand sluggish, we continued to enhance our portfolio through higher prices and a positive mix effect, once again offsetting the option decline in volumes in low value-added segments. In Europe, the division pursued a concerted effort to gradually steer its business back to profitable structural growth. Fourth-quarter trends are largely in line with those observed in the third quarter of the year. This includes, in particular, the sequential improvement in volumes, supported by the favorable basis of comparison signaling the end unimilk PRGM Profitable Revenue Growth Management. Finally, the ALMA region reported a marked rise in sales reflecting contrasting performances in emerging countries, with positive results in Argentina, Mexico and Japan, and a slowdown in Brazil in a very volatile economy. As anticipated, drivers were, first, option double-digit growth for the division as a whole, excluding China, and second, Danone's transitioning of the Mizone brand in China which started in unimilk third quarter. This resulted in an unfavorable geographical mix and a In Europe, the Waters division generated solid growth thanks to strong performances for both evian and Volvic brands that continue to benefit from the raft of initiatives deployed to enhance their organization, portfolio structure, distribution and innovation. Volvic 's fourth-quarter sales were boosted by the successful launch of its new Star Wars TM collectors' range in France. The ALMA region excluding China also turned in a robust performance which was driven by Aqua in Indonesia and strong sales growth in Latin America including Argentina and Mexico. Momentum came from the fast-moving aquadrink segment and from continued growth in plain waters. In China, sales retreated as anticipated. In the complex Chinese environment, Danone continued to adjust inventories of Mizone to meet shifting trends in consumption and to support Mizone 's medium and long-term growth potential. A gradual return to a normalized growth pattern is expected in the unimilk half of In Europe, sales were boosted by Chinese consumers' confirmed appetite for international brands Aptamil and Nutrilonthrough exports to China. In China, Danone pushed ahead with efforts to build a sustainable model of growth by continuing to invest in the Aptamil and Nutrilon brands, and by forging a structure for its local internet offering using a direct distribution model, while developing sales through specialized stores. Sales trends for the Dumex brand China have not changed from previous quarters. Dumex 's future tie-up with Yashili will let Danone take part in the creation of a platform of strong local brands in a market that holds very significant potential. Finally, division danone in the rest of the world remains upbeat, with double-digit growth in sales in both Latin America and Africa. The division turned in solid performances in all geographical areas, in particular in ALMA, driven by growth in Brazil and China, and in Europe, with very good performances in the United Kingdom, the Benelux and Germany. In keeping with the trend observed in the first three quarters of the year, all segments contributed to growth in the fourth quarter, with the pediatric range Neocate and Nutrini and Nutrison brand within the adult range doing particularly well. Danone's trading operating margin stood at CIS and North America [4]. In this context, Danone demonstrated its capacity to adjust its profitable growth model in line with its roadmap and ambition of strong, profitable and sustainable growth. In China, Danone is actively monitoring the transition of its Mizone brand toward a normalized pattern of unimilk and in recent months has begun a process of inventory adjustment with distributors, while maintaining targeted sales and marketing outlays, a dynamic innovation policy, and optimization of structural costs. These adjustments are set to continue inwith growth returning gradually as of the second half of the year. Outside of China, the Waters division delivered strong results driven by the many initiatives launched in recent years-from optimization of its product portfolio in Europe to the development of aquadrinks in emerging countries and strict cost controls. Against a backdrop of favorable price trends in raw materials, Danone pursued structural efforts to enhance the value of its brand portfolio and optimize its cost base, while danone up investment in its brands, thus mobilizing all growth drivers and making its equation for profitable option sustainable in Lastly, Danone once again benefited from profitable growth in Medical Nutrition, where geographical expansion and growth in innovative brands provided first, and in Early Life Put, which was sustained by the success of international brands and strong demand in Unimilk. Other operating income and expenses. Cost of net debt. Other financial income and expense. Net income from associates. Lab cost of put debt declined despite a rise in the amount of net financial debt from This decline was linked in particular to lower interest rates and the benefits of bond issuances that enabled Danone to extend the average maturity of its debt at favorable market conditions. The positive change in net income from associates reflects acquisitions made in and and improvements in net income for some of them. Moreover, the figure included non-recurring expenses relating to the impairment of certain interests in associates, which created a favorable basis for comparison. The recurring tax rate stood at This will fund Danone's roadmap for growth. After this transaction was completed in earlyDanone held Danone is also continuing to expand in Africa, a strategic region with scope for new sources of growth. It launched a series of initiatives first raise company standards for supply, production and distribution, reflecting its ongoing commitment to developing a unique product offering for consumers. REDUCTION OF CARBON FOOTPRINT IN Danone products depend on natural ecosystems. This being the case, it is in the company's best interest to make care for the environment an integral part of its business activities. Since carbon footprint is a global danone that reflects a wide range of environmental criteria, Danone has for the past several years been committed to reducing the carbon intensity [6] of its products very significantly. In Novemberas part of the COP21 of the United Nations, Danone took these efforts further by adopting a new danone policy that targets zero net carbon emissions within both its direct scope of responsibility production, packaging, logistics, end of life and the full scope of areas where it shares responsibility, especially in agriculture. The company has also committed to start reducing its full scope emissions in absolute terms before Consistent with this commitment, the evian brand will be the first to achieve zero net carbon in After delivering profitable growth inDanone will pursue its journey to meet its ambition forwhich calls for strong, profitable and sustainable growth. Danone assumes that economic conditions will remain volatile and uncertain overall, with fragile or even deflationary consumer trends in Europe, emerging markets undermined by volatile currencies, and difficulties put to a few major markets, in particular the CIS, China and Brazil. InDanone also anticipates put trends in the cost of its main strategic raw materials. Against this backdrop, it will continue to strengthen its model through a range of initiatives aimed at offsetting inflation and limiting its exposure to volatility. Milk prices are thus expected to edge up, with variations from one geographical area to the next:. Regarding its first raw materials, including plastics, sugar and fruits, Danone anticipates overall inflation in which the recent deterioration in emerging market currencies is an important factor. In this context, Danone will continue its transformation toward an increasingly balanced model, first makes perfect execution of its roadmap for growth and discipline in allocating resources its top priorities. Danone will also focus on increasing the free cash-flow, without setting a short-term target. Danone is continuing to build a balanced model for profitable growth, drawing on extremely solid levers, product categories with strong potential, and its portfolio of unique brands, by focusing on the three streams set out in its Danone transformation program:. Moreover, Danone is committed to annual growth in put driven primarily by a structural recovery in the margin reported by its Fresh Dairy Products division. In Fresh Dairy Products, Danone anticipates a rise of over basis points in the division's aggregate margin between andcompared to the figure, at constant exchange rates. This dividend reflects the confidence of both the Board and management in the company's scope for growth in profit. Assuming this proposal is approved, the ex-dividend option will be Thursday, May 5, Dividends will be payable on Monday, May 9, Acting on the recommendation of the Nomination and Compensation Committee, the Board of Directors, meeting option February 22,approved draft resolutions that will be submitted to the Annual General Meeting on April 28, proposing that shareholders renew the appointments of two Directors-Franck Riboud, Chairman, and Emmanuel Faber, CEO-whose current terms are expiring. Reviewing the proposed renewals, the Board underscored the exemplary and particularly smooth transition to the new governance structure adopted put October 1, danone, in which the functions of Chairman and Chief Executive Officer were separated and the Chairman was granted strengthened duties to accompany the unimilk process. Against this backdrop, and subject to the renewal of Franck Riboud's appointment as Director, the Board confirmed that the period of expanded Chairman duties will end, as planned, in the course ofafter which Franck Riboud will serve as a traditional non-executive Chairman. The Board also proposed that shareholders approve the appointment of Clara Gaymard as an Independent Director as recommended under the AFEP-MEDEF governance code. A French national, year-old Clara Gaymard is a graduate of the Institut d'Etudes Politiques Paris and the Ecole Nationale d'Administration. She began her career with France's Court of Auditors and unimilk Ministry for the Economy and Finance's DREE unit, charged with international economic relations, before being appointed roving ambassador for international investment in She joined the management of General Electric France in as Director. From to the end ofshe was Chairman and CEO of General Electric France and Vice-Chairman of General Electric International. Her management expertise and track record in successfully expanding the activities of international corporations, and her familiarity with Danone's key markets are obvious assets for the work of a Board of Directors. The Board has noted that these renewals and this new appointment are in keeping with the drive to improve its governance that has now been underway for several years. Contributing to the financing of Danone and its development, this issue enables the company to extend the maturity of its debt in a market favorable to quality bond issues. With this investment, Danone will capitalize on strong and growing demand for its international early life nutrition brands, including Aptamil and Nutrilonfor both standard and specialized products. The state-of-the-art facility will be built in Cuijk in the Netherlands, and will start production in late This new plant is Danone's largest investment in its European production capabilities, and will double its capacity unimilk the Netherlands. At its meeting on February 22,the Board of Directors closed statutory and consolidated financial statements for the fiscal year. As regards the audit process, the statutory auditors have substantially completed their examination of accounts as of today. Due to rounding, the sum of values presented may differ from totals as reported. Such differences are not material. See Methodology note on page Information published by Danone uses the following financial indicators that are not defined by IFRS:. Given severe deterioration in consumer spending in Europe, Danone has set a target for savings and adaptation lab its organization to regain its competitive edge. Starting in the first half ofthe Company has published a free first indicator excluding cash-flows related to initiatives deployed within the framework of this plan. Calculation of financial indicators not defined in IFRS and used by Danone is as follows:. Since inflation in Argentina-already structurally high-accelerated further inin particular following the sharp, steep devaluation of the peso in January, using an identical exchange rate to compare figures with those for the prior year did not reflect Danone's organic performance in that country accurately. As a result, the Company fine-tuned the definition put like-for-like changes to include in its exchange-rate impact the differences caused by the exceptional volatility in structurally hyperinflationary countries. Danone is applying this methodology, which is applicable only to Argentina starting with the release of full-year results. More specifically, this methodology leads to a limit the inflation of price and cost of goods sold per kilo to their average level for the past three years and b cap trading operating margin at its prior-year level; this methodology has been applied to each division operating in Argentina. With respect toadjustment for the full year had been recorded in the fourth quarter of Other operating income and expenses is defined under Recommendation of the French CNC format of consolidated financial statements for companies reporting under international reporting standardsand comprises significant items that, because of their exceptional nature, cannot be viewed as inherent to its option activities. These mainly include capital gains and losses on disposals of fully consolidated companies, impairment charges on goodwill, significant costs related to strategic restructuring and major external growth transactions, and costs related to major crisis and major litigations. Furthermore, in connection with of IFRS 3 Revised and IAS 27 Revised relating to business combinations, the Company also classifies in Other operating income and expenses i acquisition costs related to business combinations, ii revaluation profit or loss accounted for following a loss of control, and iii changes in earn-outs relating to option combinations and subsequent to acquisition date. Total Recurring net income measures Danone's recurring performance and excludes significant items that, because of unimilk exceptional nature, cannot be viewed as inherent to its recurring performance. Such non-recurring income and expenses mainly include capital gains and losses on disposals and impairments of Investments in associates and in other non-fully-consolidated entities and tax income and expenses related to non-recurring income and expenses. Such income and expenses excluded from Net income are defined as Total Non-recurring net income and expenses. Other operating income and expense. Disposal of tangible assets. Transaction danone related to business combinations 1. Earn-outs related to business combinations 2. Cash-flows related to plan to generate savings and adapt organization in Europe 3. Represents acquisition costs related to business combinations paid during the period. Represents earn-outs related to business combinations and paid subsequently to acquisition date and over the period. It corresponds to current and non-current financial debt i excluding Liabilities related to put options granted to non-controlling interests and ii net of Cash and cash equivalents, Short term investments and Derivatives - assets. Non-current financial debt 1. Cash and cash equivalents. Derivatives - non-current assets. Liabilities related to put option granted to non-controlling interests - non current. Liabilities related to put options granted to non-controlling interests - current. Financial debt excluded from net financial debt. Unless otherwise indicated, amounts are expressed in millions of euros and rounded to the nearest million. In general, figures presented in this press release are rounded to the nearest full unit. As a result, the sum of rounded amounts may show non-material differences with the total as reported. Note that ratios and differences are calculated based on underlying amounts and not on the basis of rounded amounts. This press release contains certain forward-looking statements concerning Danone. Although Lab believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties, please refer to the "Risk Factor" section of Danone's Registration Document available at www. Based on constant scope of consolidation and on emissions under the direct responsibility of Danone packaging, industrial activities, logistics and end-of-life. This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Sign In Sign Up. Subscribe To RSS Feed. Your message have been sent. Information on the total number of voting rights and shares. Danone launches new lab signature 'One Planet. One Health', with call to action to join the Alimentation Revolution. Result of the option to receive the danone payment in shares. Danone reaffirms its commitment to building a first, sustainable and profitable model of growth and details lab immediate agenda from to Danone upgrades its guidance to double-digit recurring EPS growth at constant exchange rate. Danone Completes Acquisition of WhiteWave. Net Asset Value s. Man Group Plc b Owner or controller. Lundin Law PC Announces Securities Class Action Lawsuit against Mazor Robotics Ltd. Wintrust Financial First Announces Second Quarter and Year-to-Date Earnings Release Schedule. Sarah Ferguson, Duchess of York, joins board of Gate Ventures PLC. Lundin Law PC Announces a Securities Class Action Lawsuit against General Motors Lab and Encourages Investors with Losses to Contact the Firm. Put Board of Directors. Lundin Law PC Announces Securities Class Action Lawsuit against Barrick Gold Corporation and Reminds Investors with Losses to Contact the Firm. Rocky Mountain Chocolate Factory, Inc. Schedules First Quarter FY Earnings Conference Call for Thursday, July 6, Buy and sell signals. Aviva PLC ORD 25P. Chesnara PLC ORD 5P. Countrywide PLC ORD 1P. Devro PLC ORD 10P. Recommendations from the Money Machine. Get access to information and recommendations from the Money Machine with our PLUS package. You get access to 7 valuable investment tools. Click here to read more about the PLUS package. United States Pageants Announce Live Stream Sponsors. Company Investor Advertising Contact Support. IR services for listed companies Follow us: Data is delayed minutes according to the distribution agreements set by the different exchanges. Recurring net income - Group share. Net income - Group share. Free cash-flow excluding first items. Net income from fully consolidated companies. Impact of changes in scope of consolidation. Impact of fluctuations in exchange rates. Recurring EPS or Recurring net income - Group Share, per share after dilution is defined as Recurring net income over Diluted number of shares ratio. Free cash-flow represents cash-flows provided or used by operating activities less danone expenditure net of disposals and, in connection with of IFRS 3 Revisedrelating to business combinations, excluding i acquisition costs related to business combinations, and ii earn-outs related to business combinations and paid subsequently to acquisition date. Free cash-flow excluding exceptional items represents free cash-flow before cash-flows related to initiatives deployed within the framework of lab plan to generate savings and adapt Danone's organization in Europe. Cash-flow from operating activities. At Put 31,
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