Danone weathers the coronavirus storm

Danone is showing resilience in the face of the coronavirus crisis. In the first quarter of 2020, the French group posted 1.7% growth in consolidated sales to €6.24 billion on the back of a strong performance in Europe and the United States. Sales grew 3.7% on a like-for-like basis.

The good performance, especially in March, was boosted by an increase in food stocking due to the pandemic.

The group has declared that its top priority during the emergency is to ensure the safety of its 100,000 employees around the world as well as that of its trading partners so as to maintain its daily food supplies.

Key measures include a bonus and healthcare coverage for the most exposed workers as well as €300 million financial support with extended payment terms and credit to smaller customers in its global ecosystem.

Image credits: Danone Italia