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    BN   FR0000120644

DANONE

(BN)
  Report
Real-time Euronext Paris  -  11:35 2022-10-06 am EDT
47.92 EUR   -0.88%
10:12aDanone : Document AMF CP. 2022E865279
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Danone sends 1.3 mln cans of Aptamil baby formula to U.S. to address shortage

07/27/2022 | 12:12pm EDT

(Adds data on in-stock rates for formula, updates dateline)

NEW YORK/LONDON, July 27 (Reuters) - French consumer goods company Danone's North America unit said on Wednesday it had shipped more than 750,000 cans of its flagship Aptamil baby formula to the United States from Europe as a nationwide shortage persists, with another 550,000 cans on the way.

While Aptamil is little known in the United States, it is a major brand in Europe, where Danone is a dominant force in the market. The move to introduce Aptamil to American parents could give Danone, a relatively small U.S. player, the opportunity to grab market share from leaders Reckitt Benckiser and Abbott Laboratories.

The additional 550,000 Aptamil cans that are en route from New Zealand will likely be available in August, while the initial shipments are already on shelves and online at Walgreens , Safeway and some other stores.

Danone also said it had imported more than 500,000 cans of Neocate, a specialized medical baby formula.

Abbott recalled dozens of brands of baby formula in February, sparking one of the biggest food shortages in recent American history. Since then, the U.S. government and Food and Drug Administration have made it easier for manufacturers to get shipments into the country, and appealed to companies such as Nestle and Reckitt to step up production.

In-stock rates of infant formula remain far below normal levels, at about 70% for the week ended July 24, according to data from research firm IRI. In-stock rates have remained around 70% since the end of June, according to IRI. (Reporting by Richa Naidu and Jessica DiNapoli; Editing by Mark Potter and Bill Berkrot)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DANONE -0.88% 47.92 Real-time Quote.-11.44%
NESTLÉ S.A. -0.67% 106.34 Delayed Quote.-15.99%
RECKITT BENCKISER GROUP PLC -0.07% 5940 Delayed Quote.-6.28%
WALGREENS BOOTS ALLIANCE, INC. -1.73% 32.57 Delayed Quote.-36.43%
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Analyst Recommendations on DANONE
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Financials
Sales 2022 27 182 M 26 799 M 26 799 M
Net income 2022 1 649 M 1 625 M 1 625 M
Net Debt 2022 10 563 M 10 414 M 10 414 M
P/E ratio 2022 17,9x
Yield 2022 4,10%
Capitalization 30 273 M 29 753 M 29 847 M
EV / Sales 2022 1,50x
EV / Sales 2023 1,40x
Nbr of Employees 98 105
Free-Float 92,3%
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Technical analysis trends DANONE
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TrendsBearishBearishBearish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 48,35 €
Average target price 58,02 €
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Antoine Bernard de Saint-Affrique Chief Executive Officer & Director
Juergen Esser Finance Manager-Dairy Germany
Gilles Schnepp Non-Executive Chairman
Isabelle Esser Chief Research, Innovation & Food Safety Officer
Vikram Agarwal Chief Operations Officer
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