Emmanuel Faber Vice Chairman and Co-Chief Operating Officer
Disclaimer
This document contains certain forward-looking statements concerning DANONE. Although DANONE believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties, please refer to the section “Risk Factors” in DANONE’s Annual Report (which is available on www.danone.com). DANONE undertakes no obligation to publicly update or revise any of these forward-looking statements. This document does not constitute an offer to sell, or a solicitation of an offer to buy, Danone shares.
Bring health through food to the largest number of people
2007-2012 From 600 mln to 900 mln Danone consumers 8
Bring health through food to the largest number of people
Rank
1
Score
6.3
9
A 2 tier momentum 2012 key figures
Growth Markets
Sales breakdown
Europe ex CIS
Sales
Sales
12.5 bn +12.4 % Like-for-like(1)
8.4 bn -3.0% Like-for-like(1)
Trading operating margin
60%
40%
13.2% +80 bps Like-for-like(1)
(1) Like-for-like : Based on constant scope of consolidation and constant exchange rates
Trading operating margin
15.7% -190 bps Like-for-like(1)
10
FY 2012 Results
2012 objectives
Sales growth (1)
FY 2012
5-7%
+5.4%
Stable,
14.18% -50 bps Like-for-like(1)
Trading operating margin
adjusted to -50 bps in June
Free cash flow (2)
€ 2 bn
€ 2,088 mln
(1) Like-for-like : Based on constant scope of consolidation and constant exchange rates (2) Free cash flow: Cash flow from operations less capital expenditure (net of disposals) and excluding business combinations fees
New campains Intensely Creamy new flavours (Banoffee & Blueberry)
22
Restoring growth in Europe: Example in Waters
Stronger brand identity
Aquadrinks roll-out Flavoured water
Water + Juice
Right positioning & price
23
Plan for competitiveness in Europe EUROPE – 26 countries
SAVINGS €200mln
&
ADAPT & SIMPLIFY ORGANISATION & PROCESSES
REGAIN COMPETITIVE EDGE 24
Plan for competitiveness in Europe Reorganization Project of European management & support functions (Presented to European Works Council on February 19th)
Shift from a“Country” to a “Cross-Country” Business Unit model : Example of “DACH”* zone in Dairy division
Plan for competitiveness in Europe Reorganization Project of European management & support functions (Presented to European Works Council on February 19th)
Simplifying processes and mutualizing expertise : Example of “DACH” zone in Dairy division Cross-Country level
DACH
Operations
General Manager
Support functions
• Supply, purchasing and manufacturing joined in one centralized Operation team • Mutualization of support functions, and reduction of reporting & administrative processes at country level
Germany
Austria
Switzerland
Slovenia
Country Manager
Country Manager
Country Manager
Country Manager
Country level : focused on consumer & brand activation • • • •
Media planning Promotion & in-store activation CRM Product launches 26
Mutualizing expertise : example in sourcing Global sourcing organization for the Dairy division
GLOBAL
SOURCING
Business Units • • • •
Suppliers
Optimized processes between suppliers and Danone Business Units Reduced volatility & secures access to markets Reduced buying costs through scale effect Increased product differentiation : increased innovation, shorter time to market 27
2012 Group equation 2012 key figures
TOPLINE
MARGIN
% Group Sales
LFL Growth
% margin
LFL margin change
ALMA
38.4%
+ 15.7%
14.81%
+ 31 bps
NORAM & CIS
21.2%
+ 6.7%
10.21%
+ 144 bps
EUROPE (ex CIS)
40.4%
-3.0%
15.66%
- 190 bps
TOTAL
100%
+ 5.4%
14.18%
- 50 bps 28
2013 objectives
2013 objectives
Sales growth (1)
At least 5%
Trading operating margin(1)
-30bps to -50bps
Free cash flow (2)
Around € 2 bn Ex exceptionnal items
(1) Like-for-like : Based on constant scope of consolidation and constant exchange rates (2) Free cash flow: Cash flow from operations less capital expenditure (net of disposals) and excluding business combinations fees
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