Danone

Danone (Euronext: BN) is a French dairy, nutrition, and plant-based food and drinks manufacturer. Founded in Barcelona, Spain, in 1919, Danone was listed on the Euronext exchange in 2007 and was ranked the third most valuable food brand in 2021. Its revenue was EUR 27.6 billion (USD 30.4 billion) in 2023.

Danone is a leading global producer of fresh dairy products and plant-based food and drinks, such as yogurt, coffee creamers, and plant-based milks (sold under its largest segment Essential Dairy & Plant-based). Its most recognizable brands include Activia and Danone. The company’s Specialized Nutrition segment is divided into early-life nutrition and advanced medical nutrition, offering nutritional solutions to infants and elderly people, respectively. Under its Waters segment, Danone sells bottled water and aqua drinks under globally recognized brands AQUA, evian, and Volvic, among others.

Danone’s geographical markets are fairly diversified with over 100 brands distributed in over 120 countries—Europe is the largest market (~34% of total revenue in 2023), followed by North America (~25% of total revenue). Danone aims to achieve like-for-like sales growth between 3% and 5% in 2024, with a modest improvement in its recurring operating margin compared with its 2022 results. From a sustainability perspective, Danone targets a 30% absolute reduction in methane emissions from fresh milk used in its dairy products by 2030 (from 2020 levels).