Danone posts 4.5% sales growth, lifts margin outlook
Dairy group sees 3–5% like-for-like growth in 2026
20 February 2026
1 minute read
By: France’s dairy producer Danone reported a 4.5% rise in like-for-like sales for fiscal 2025, driven by volume and price mix, Reuters reported.
Recurring operating margin improved by 44 basis points to 13.4%, while recurring earnings per share rose 4.6% to €3.80.
For 2026, Danone expects like-for-like sales growth of between 3% and 5%. The company anticipates recurring operating income will grow faster than sales and said it remains committed to a science-based, consumer-centric approach amid market volatility.
Full-year sales totalled €27.28 billion. Recurring operating income reached €3.67 billion and free cash flow came in at €2.80 billion. The recurring operating margin stood at 13.40%.
Danone cited sustained momentum in Europe, driven by Essential Dairy and Plant-based products and Adult Medical Nutrition. In China, North Asia and Oceania, strong growth was led by Specialized Nutrition and Essential Dairy and Plant-based products.
Margin gains were attributed to operational efficiencies.
The average analyst rating on the shares is “buy,” with 13 “strong buy” or “buy” recommendations, nine “hold” and two “sell” or “strong sell.” The average consensus recommendation for the food processing peer group is also “buy.”
Wall Street’s median 12-month price target for Danone SA is €78.00, about 5.2% above its February 19 closing price of €74.12. The stock recently traded at 18 times next 12-month earnings, compared with a price-to-earnings ratio of 19 three months ago.
