Danone - DANOY STOCK NEWS

Danone reported a return to growth in Q2 2021 with net sales of €6,171 million, up +6.6% like-for-like. The first half of 2021 saw total sales of €11.8 billion, a +1.6% increase. Recurring operating margin declined to 13.1% due to inflation and category mix challenges. Reported EPS rose +5.1% to €1.63, while recurring EPS fell -9.3% to €1.53. Free cash flow reached €1.0 billion, and a share buyback program of up to €800 million is planned for H2. 2021 guidance remains optimistic for profitable growth despite ongoing macroeconomic uncertainties.

The press release from Danone provides essential information regarding the company's shareholding structure as of June 30, 2021. The total number of shares is reported at 687,640,000, with a total of 713,725,685 theoretical voting rights. The exercisable voting rights stand at 676,901,433. This announcement complies with Article L. 233-8 II of the French Commercial Code and the AMF regulations, ensuring transparency in shareholder voting rights. The company continues to adhere to legal requirements while informing stakeholders about its governance structure.

Danone has signed an agreement to sell its plant-based nutritional products brand, Vega, to WM Partners, a US-based private equity firm. This sale is part of Danone's strategy for capital allocation optimization and follows a portfolio review initiated in October 2020. The transaction's closing is contingent on customary conditions.

Danone, a French société anonyme, reported as of May 31, 2021, a total of 687,640,000 shares outstanding. The total theoretical number of voting rights stands at 713,733,900, while the total exercisable voting rights are 676,909,648. These numbers comply with Article L. 233-8 II of the French Commercial Code and AMF regulations.

Danone has successfully issued a €1 billion bond with a 4.5-year maturity and a 0% coupon, enhancing its financial flexibility and extending its debt maturity. This bond issue, which is set to settle on June 1, 2021, received widespread subscription from a diversified investor base, reflecting confidence in Danone's business model and credit profile. Danone maintains a BBB+ rating from Standard & Poor's and a Baa1 rating from Moody's. The company aims to promote health through food while committing to sustainability and holding significant market share with €23.6 billion in sales reported in 2020.

Danone has appointed Antoine de Saint-Affrique as the new Chief Executive Officer, effective September 15, 2021. This decision follows a thorough selection process by the Governance Committee. He will replace the interim leadership of Véronique Penchienati-Bosetta and Shane Grant. Saint-Affrique, previously CEO of Barry Callebaut and with significant experience at Unilever, is expected to drive Danone's future growth and align with its mission of health-focused food innovation. The Board expresses confidence in his ability to create sustainable value for shareholders.

On May 13, 2021, Danone announced the completion of its strategic sale of a 9.8% stake in China Mengniu Dairy, generating gross proceeds of HKD 15.4 billion (approximately €1.6 billion). The settlement is scheduled for May 17, 2021. As part of its capital allocation strategy, the majority of the sale proceeds will be returned to shareholders via a share buyback program, details of which will be shared later.

Danone has initiated a strategic sale of its approximately 9.8% stake in China Mengniu Dairy Company Limited through an accelerated bookbuilding process. This move follows the completion of converting Danone's long-term stake into a direct holding on April 16, 2021. Further details about the sale's outcome and financial proceeds will be disclosed in due time.

Danone has disclosed the total number of voting rights and shares as of April 30, 2021. The company has a total of 686,629,600 shares and a theoretical total of 712,693,616 voting rights. However, the number of exercisable voting rights stands at 675,859,926. This information complies with the French Commercial Code and Financial Markets Authority regulations, ensuring transparency for shareholders. The disclosure helps investors understand the voting power associated with their shares.