Danone reports US$8.1B sales in Q3 FY26

FRANCE – Danone has reported sales of US$8.06 billion (€7.23 billion), up +4.0% (like-for-like) LFL, with volume/mix at +0.4% and price at +3.6% in Q3 FY 2026.

 Sales increased by +5.2%. This includes a positive forex impact (+1.5%), linked to the appreciation of several currencies against the euro, notably the Chinese renminbi, the Mexican peso, and the U.S. dollar.

This was partly offset by the consolidation of Huel (since September 1st) and the consolidation of the joint venture with Saputo Dairy Australia. In addition, the contribution from hyperinflation was +0.4%.

In EMEA, LFL sales increased by +3.9%, with volume/mix at -0.4% and price at +4.3%. In Europe (+1.9% LFL) volume/mix was positive in EDP and Waters but negative in Specialized Nutrition, resulting in total volume/mix of -1.3% while price was up +3.2%.

Essential Dairy and Plant-Based products (EDP) posted strong growth, notably in France, Spain and the UK, driven by the Danone, Alpro, Activia and High Protein brands.

In Specialized Nutrition, IMF situation returned to normal in the Middle East, while the category continued to recover progressively in Europe. The season was strong in Waters, notably with Volvic delivering double digit growth.

In the Americas, LFL sales were up +4.4%, with volume/mix at +0.7% and price at +3.7%. Within the zone, North America delivered LFL sales growth of +2.4%, with volume/mix at -0.6% and price at +3.0%.

Specialized Nutrition delivered outstanding performance, driven by Aptamil, Neocate and Kate Farms. Waters posted strong growth with solid performance of evian in North America and improved momentum in Mexico.

In EDP, High Protein continued to drive growth across the region. In North America, decisive actions are in place to regain momentum, focusing on step-changing execution and regaining innovation leadership through strong product pipeline beyond high protein.

In Asia Pacific, LFL sales increased by +3.6%, with volume/mix at +1.7% and price at +1.9%. Within the zone, China, North Asia & Oceania (CNAO) posted LFL sales growth of +0.1% with negative volume/mix of -1.6%, linked to Waters, and price at +1.7%.

In Specialized Nutrition, CNAO delivered strong mid-single-digit growth, driven by both IMF and Medical Nutrition. The rest of the APAC zone was very dynamic, particularly Indonesia and India.

Waters was impacted by Mizone amid a poor season with adverse weather conditions, prompting disciplined inventory management.

Mizone decline resulted in approximately -1 point impact on Group LFL sales growth in Q3. EDP continued to show strong momentum in Japan, with both Activia and Oikos.

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