Danone has reported strong results for 2024, despite challenges such as currency effects and asset disposals. For 2025, Danone remains optimistic with ambitious growth targets.
Revenue growth despite headwinds
Danone recorded 27.4 billion euros in revenue for 2024, a 4.3% increase on a like-for-like basis, driven by a 3% increase in volume and a 1.3% price effect. In Q4, sales grew by 4.7%, with particularly strong performances in North America and Asia.
However, on a reported basis, revenue declined by 0.9%, mainly due to the exit from Russia and the sale of Horizon Organic in the U.S., as well as negative currency impacts (-2.8%). The recurring operating margin improved by 39 basis points, reaching 13%, while recurring net income increased by 2.7% to 2.3 billion euros.
North America and Asia leading growth
In North America, revenue grew 5.2% on a like-for-like basis, driven by strong demand for high-protein products, coffee-based beverages, and bottled water. The European market saw its fifth consecutive quarter of volume growth, while China and North Asia experienced sustained growth across all categories, particularly in specialized nutrition and hydration products.
For 2025, Danone expects like-for-like sales growth between 3% and 5%, with recurring operating income growing faster than revenue. The company will continue investing in innovation, scientific research, and marketing to strengthen its competitive position. CEO Antoine de Saint-Affrique remains confident: “The food industry is at a turning point. With our health-driven portfolio, renewed focus on science, and strong brands, we are well-positioned to seize the opportunities ahead.”
