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DANONE
REGISTRATION DOCUMENT 2015
Danone's business highlights in 2015 and outlook for 2016
3.1 Business highlights in 2015
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Danone's consolidated financial statements and the Notes to the consolidated financial statements are presented in section 4.1 Consolidated
financial statements and Notes to the consolidated financial statements. Risk identification and control policy, as well as the major operational
risks relating to the Danone's business sectors or to Danone's activity and organization, are described in section 2.7 Risk factors.
Unless indicated otherwise, amounts are expressed in millions of euros and rounded to the nearest million. Generally speaking, the values
presented are rounded to the nearest unit. Consequently, the sum of the rounded amounts may differ, albeit to an insignificant extent, from the
reported total. In addition, ratios and variances are calculated on the basis of the underlying amounts and not on the basis of the rounded amounts.
Danone reports on financial indicators not defined by IFRS, internally (among indicators used by the chief operating decision makers) and exter-
nally. These indicators are defined in section 3.6 Financial indicators not defined by IFRS:
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like-for-like changes in sales, trading operating income, trading operating margin, recurring net income and recurring EPS;
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trading operating income;
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trading operating margin;
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recurring net income;
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recurring income tax rate;
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recurring EPS;
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free cash flow;
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free cash flow excluding exceptional items;
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net financial debt.
Danone also uses references that are defined in section 1.2 Information about the Registration Document related to References and definitions.
3.1 BUSINESS HIGHLIGHTS IN 2015
Highlights of 2015
Highlights were detailed in the main press releases issued by
Danone during 2015.
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on January 7, 2015, Danone announced the successful launch
of a €1.3 billion dual-tranche bond issue in euros: a tranche of
5-year floating rate notes of €550million and a tranche of 10‑year
fixed rate bonds of €750 million;
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on March 16, 2015, Danone announced the appointment of Lorna
DAVIS and Pascal DE PETRINI to the Executive Committee to
shape the “Danone 2020” initiative, respectively as Chief Manifesto
Catalyst and Executive Vice-President Strategic Resource Cycles;
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on June 1, 2015, Danone announced the result of the option to
receive the 2014 dividend payment in shares;
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on November 2, 2015, Danone announced that it has entered into
a worldwide food safety partnership with Mérieux NutriSciences;
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on November 9, 2015, Danone announced that it has committed
to a new climate policy targeting zero net carbon emissions
within its full scope, i.e. direct and shared scope of responsibility;
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on November 23, 2015, Danone announced the successful launch
of a €750 million bond issue in euros;
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on December 2, 2015, Danone announced, following the press
release issued on July 24, 2015 announcing the conclusion of a
preliminary agreement with Yashili and Mengniu, the execution
of a final sale agreement of Dumex in China to Yashili, for a total
€150 million;
•
on December 2, 2015, Danone announced that it has invested
€240 million in new facility to capitalize on growing demand for
its Early Life Nutrition brands;
•
on December 4, 2015, Danone announced an innovative strate-
gic partnership with Veolia focusing on the water cycle, waste
management, sustainable agriculture and energy efficiency, to
meet the challenge of climate change;
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on December 17, 2015, Danone announced an open source
cooperation agreement with B Lab that aims to accelerate the
process for large, publicly listed multinationals to become
certified as B Corp.