Danone Stock Price, News & Analysis

Danone has successfully issued a €700 million bond with a 9-year maturity and a coupon rate of 0.52%. This initiative is part of Danone's strategy to enhance funding flexibility and extend debt maturity. The bond is set to settle on November 9, 2021, and will be listed on Euronext Paris. Investor demand was strong, reflecting confidence in Danone's business model. The company holds a BBB+ rating from Standard & Poor’s and Baa1 from Moody’s, both with a stable outlook. Danone aims for B Corp™ certification by 2025 and generated €23.6 billion in sales in 2020.

Danone has appointed Roberto Di Bernardini as the new Chief Human Resources Officer and a member of the Executive Committee, effective November 29, 2021. Reporting directly to CEO Antoine de Saint-Affrique, Di Bernardini brings over 30 years of international HR experience from companies such as Banco Santander, Johnson & Johnson, and Colgate Palmolive. His expertise in strategic HR functions and company culture aims to enhance Danone's workforce and talent strategies, furthering the company's objectives.

In the third quarter of 2021, Danone reported net sales of €6,158 million, marking a +3.8% increase on a like-for-like basis and +5.8% on a reported basis. This growth was driven by all categories, with notable performances in Essential Dairy and Plant-based (EDP), Specialized Nutrition, and Waters. Despite ongoing inflation and supply chain pressures, the company reiterated its full-year guidance, expecting a return to profitable growth in the second half of 2021. The CFO emphasized the brand's strengths and the importance of pricing strategies to mitigate inflation impacts.

DANONE has released an update regarding its total number of voting rights and shares as of September 30, 2021. The company reported a total of 687,682,489 shares, with a total of 713,389,265 theoretical voting rights. The total number of exercisable voting rights stands at 688,078,412, which excludes shares with suspended voting rights. This information complies with French regulations aimed at ensuring shareholder transparency.

Bertrand Austruy, Chief Human Resources Officer and General Secretary of Danone, announced his resignation after over 20 years with the company.

Laurent Sacchi will succeed him as General Secretary starting October 1st. Austruy will remain in his position until a successor for the Chief Human Resources Officer role is named. CEO Antoine de Saint-Affrique praised Austruy’s dedication and impact on Danone’s social dialogue.

Danone has reported the total number of shares and voting rights as of August 31, 2021. The company has 687,640,000 shares outstanding, with a total number of theoretical voting rights at 713,865,212. The number of exercisable voting rights stands at 676,715,312. This disclosure is in compliance with the French Commercial Code and Financial Markets Authority regulations. Such transparency is critical for investors and shareholders to understand the governance structure of the company.

Danone successfully completed a €500 million hybrid bonds refinancing on September 15, 2021. The tender offer involved repurchasing €500 million of its existing €1.25 billion subordinated notes at 103.118% of their tender price. This reduces the outstanding principal of the existing notes to €750 million. Alongside this, Danone issued new subordinated notes of €500 million with a 1% coupon, maturing in 2026. The company aims to manage its hybrid debt effectively, maintaining the total amount unchanged while leveraging favorable market conditions.

Danone has successfully priced a €500 million issue of undated deeply subordinated fixed rate resettable notes, capitalizing on favorable market conditions. The proceeds will refinance part of its existing €1.25 billion notes. The new notes carry a fixed coupon of 1% and will be recognized as equity under IFRS standards. Settlement is scheduled for 16 September 2021, with listing on Euronext Paris. This strategic move aligns with Danone's efforts to optimize its capital structure and financial flexibility.

On September 7, 2021, Danone announced plans to refinance part of its €1.25 billion hybrid bond amid favorable market conditions. The company launched a Tender Offer to repurchase up to €500 million of its existing undated deeply subordinated notes. Additionally, Danone intends to issue new Euro-denominated undated non-call 5.25-year notes, expected to have ratings of BBB- (S&P) and Baa3 (Moody’s). The Tender Offer will run from September 7 to September 14, 2021, with results to be announced on September 15, 2021.