Danone - Rethinking Danone

Davy Research
/Read Important Disclosures

The vestiges of inconsistent financial delivery at Danone are being discarded. Recent execution (margin expansion) in an inflationary cost environment gives us confidence that new-Danone is a more disciplined, results driven and adaptive organisation. It is doubling down on innovation to drive value growth – underpinned by ambitions in Plant, where it has the licence to think big. Stakeholder alignment continues to strengthen. We believe the future will look different to the past – while it will be prone to short- term interruptions, Danone is on a fundamentally better pathway. We upgrade our rating to ‘Outperform’.