The dairy giant unveiled its Q3 2026, with sales hitting €7,233m, up 4.% on a like-for-like (LFL) basis, driven by a 3.6% increase in price and a 0.4% rise in volume and mix. On a reported basis, sales increased 5.2%.
In Europe, the Middle East and Africa (EMEA), Danone’s Essential Dairy and Plant-based (EDP) and Waters divisions delivered positive performances. LFL sales hit +3.9% while volumes were down -0.4% and price was up +4.3%.
European sales grew by +1.9% LFL supported by positive volume and mix in EDP and Waters, although Specialized Nutrition remained under pressure.
Danone said EDP performed strongly in France, Spain and the UK, driven by brands including Danone, Alpro, Activia and High Protein.
In Specialized Nutrition, the infant milk formula (IMF) situation returned to normal in the Middle East, while the category continued to recover progressively in Europe, the company said. The season was strong in Waters, notably with Volvic delivering double digit growth.
In the Americas Danone highlighted the action it had taken to restore performance in EDP North America. The company said it had made “decisive actions” including measures aimed at changing execution and strengthening its innovation pipeline beyond high-protein products.
Strong growth across notably in Specialized Nutrition, resulted in 4.4% LFL sales. 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, the company said. In EDP, High Protein continued to drive growth across the region.
Asia Pacific (APAC) saw +3.6% LFL sales supported by sustained performances in Specialized Nutrition and EDP, although there was a poor season in Waters due to Mizone.
Danone said that 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. EDP continued to show strong momentum in Japan, with both Activia and Oikos, it said.
The company also announced that Vikram Agarwal, Chief Operations Officer, is to retire from Danone in early 2027.
Antoine de Saint-Affrique: CEO said: “We delivered another strong quarter in Q3, with like-for-like sales up +4.0%, reflecting broad-based momentum across categories and geographies.
“Our multi-engine growth model continues to demonstrate its resilience, underpinned by the strength and relevance of our health-focused portfolio. Demand for our winning platforms, from high protein to gut health and medical nutrition, remains strong across the world. In North America, we have taken decisive actions to further step up execution and sustainably restore performance.
He added: “In an environment that remains volatile, we reiterate our full-year guidance with confidence.”