Danone Reports Strong Q3 Growth Driven by Volume/Mix

In Q3 2025, Danone reported consolidated sales of €6,876 million, marking a 4.8% increase on a like-for-like basis. This growth was primarily driven by a 3.2% rise in volume/mix and a 1.6% increase in pricing. Despite currency fluctuations negatively impacting reported sales by 5.1%, the overall sales growth remained robust.

Regionally, the company saw strong performance in China, North Asia, and Oceania with a 13.8% like-for-like growth. Europe also showed steady progress with a 2.6% increase, driven by a positive volume/mix. Conversely, North America faced softer growth, despite positive momentum in high-protein categories. Latin America and Asia, Middle East & Africa showed mixed results, with positive growth in specialized nutrition significantly contributing to overall sales.

Danone's 2025 guidance is aligned with its mid-term ambition, expecting a like-for-like sales growth between 3% and 5%, with recurring operating income anticipated to outgrow sales.