Danone reports sales of US$8.01B in Q3 2025

FRANCE – Danone has reported consolidated sales of US$8.01B (€ 6,876 million), up +4.8% on a like-for-like basis, led by an increase of +3.2% from volume/mix and +1.6% from price.

Reported sales were negatively impacted by forex (-5.1%), reflecting the depreciation of several currencies against the euro, notably the US Dollar, the Chinese Renminbi, the Indonesian Rupiah, the Argentine Peso and the Turkish Lira.

In Q3 2025, Europe continued to step-up with sales growth of +2.6% LFL, led by volume/mix up +2.1%, and positive price, up +0.5%.

Sustained progress in EDP was driven by functional dairy, notably Danone Skyr, Activia Kefir and YoPro high protein, as well as Alpro.

Specialized Nutrition posted a solid quarter, with double-digit growth in adult medical nutrition, while evian drove robust growth in Waters.

Antoine de Saint-Affrique, CEO, said, “We are particularly pleased with the step-by-step improvement in Europe, where volume/mix has now been positive for eight consecutive quarters, while CNAO delivered another outstanding performance across all categories.

“At the same time, we recognize that our transformation journey is not over and that some areas require further progress. We stay focused on fully leveraging our science-based and value-added portfolio, while continuing to execute with discipline and agility.”

In North America, sales were up 1.5% LFL, with 0.3% volume/mix and 1.2% price. Momentum remained strong in high protein, with new innovations launched during the quarter.

Coffee Creamers are progressively regaining competitiveness. Plant-based remains work in progress. Medical Nutrition delivered a good performance, and recently acquired Kate Farms showed positive dynamics, not yet included in the LFL figure.

Finally, evian drove strong growth in Waters. China, North Asia & Oceania delivered an outstanding performance, with strong momentum in all categories.

Sales were up +13.8% LFL, driven by volume/mix of +15.1%, and price of -1.3%. Specialized Nutrition saw consistently strong growth in both Infant Milk Formula and Medical Nutrition. Souvenaid contributed to strong growth in Oceania.

In Waters, Mizone sustained its solid dynamics, while in EDP, Activia and Oikos delivered double-digit growth in Japan.

Latin America posted a solid performance amid challenging markets, with sales up +4.3% LFL, including -2.3% volume/mix and +6.6% price.

Specialized Nutrition delivered double-digit growth across the region, driven by Aptamil. EDP recorded a strong performance, supported by Danone, Oikos Greek and YoPro.

Waters continued to be impacted by a subdued beverage market in Mexico.

In Asia, the Middle East, and Africa, sales growth accelerated to +6.8% LFL, with solid contributions from volume/mix (+2.6%) and price (+4.2%).

Specialized Nutrition posted another quarter of strong growth, driven by Aptamil. Strong momentum continued in Dairy Africa, led by Danone and Activia, while the performance in Waters improved, including in volume/mix.

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