PARIS, April 23, 2002 (PRIMEZONE) -- In the first quarter of 2002, Groupe DANONE (NYSE:DA) reported consolidated sales of EUR 3,583 million compared to EUR 3,423 million in the first three months of 2001, representing an increase of 4.7%.
At constant scope of consolidation and exchange rates, Group sales increased by 4.1%. Changes in the scope of consolidation had a positive impact of +1.8% and changes in the exchange rates had a negative impact of -1.2%.
This 4.1% sales growth is derived from volume for +2.6% and from value for +1.5%.
Excluding Galbani, which should be deconsolidated by the end of April 2002, organic sales growth reached 4.4%.
Sales by business line and geographical area were as follows:
(EUR millions) 1st Quarter Sales
2001 2002
By business line
Fresh Dairy Products 1,692 1,771
Beverages 860 946
Biscuits & Cereal Snacks 786 779
Other food business 89 92
Intra-group sales -4 -5
By geographical area
France 998 1,045
Rest of European Union 1,190 1,246
Rest of World 1,453 1,514
Inter-group sales -218 -222
Group
3,423 3,583
1st quarter sales are characterized by:
-- Good performance in Western Europe with like for like sales growth of more than 5% (excl. Galbani)
-- Flat sales in North America, with a strong performance of Fresh Dairy Products (+9%) but a difficult context in Water in the US (-8%)
-- Growth of 5% in emerging areas with +10% in Asia but flat sales in Latin America due to the Biscuits situation (-20%)
Organic sales growth by business line and geographical area was as follows:
1st Quarter Sales
By business line
Fresh Dairy Products +6.7% (a)
Beverages +2.7%
Biscuits & Cereal Snacks +0.9%
Other food business -1.0%
By geographical area
France +5.3%
Rest of European Union +4.2% (b)
Rest of World +3.4%
Group +4.1% (c)
(a): +7.8% excluding Galbani
(b): +5.0% excluding Galbani
(c): +4.4% excluding Galbani
This 1st quarter performance, in line with the Group's internal targets, enables DANONE to confirm its targets for full year 2002. After Galbani deconsolidation, planned for the end of April 2002, organic sales growth should reach a minimum of 5.2% and the operating margin should increase between 40 and 50 basis points.
Schedule:
-- April 25, 2002: Shareholders' Annual General Meeting of Groupe DANONE
-- July 24, 2002: Announcement of half year sales and preliminary half year results