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DANONE
REGISTRATION DOCUMENT 2015
Danone's business highlights in 2015 and outlook for 2016
3.2 Consolidated net income review
52
Early Life Nutrition
Sales
The Early Life Nutrition Division recorded sales of €4,994 million in
2015, up +9.8% on a like-for-like basis. This increase resulted from
+4.7% growth in volume and a +5.1% value increase.
Like-for-like
volume growth
Like-for-like
sales growth
2014
2015
1.7%
4.7%
6.1%
9.8%
2014
2015
Main markets
Europe has realized a very good performance driven by the success of
international brands exported to China, including
Aptamil
and
Nutrilon.
In China, Danone pushed ahead with efforts to build a sustainable
model of growth by continuing to invest in the
Aptamil
and
Nutrilon
brands, and by forging a structure for its local internet offering
using a direct distribution model, while developing sales through
specialized stores.
Sales trends for the
Dumex
brand (China) are down compared with
2014. Dumex's future tie-up with Yashili will let Danone take part
in the creation of a platform of strong local brands in a market that
holds very significant potential.
Finally, the Division businesses in the rest of the world have re-
mained upbeat, with double-digit growth in sales in both Latin
America and Africa.
Medical Nutrition
Sales
The Medical Nutrition Division recorded an excellent performance in
2015, with sales rising by +7.5% on a like-for-like basis to €1,593 mil-
lion. This growth consisted of a +4.7% increase in volume and a
price mix effect of +2.8%.
Like-for-like
volume growth
Like-for-like
sales growth
2014
2015
5.6%
4.7%
7.9% 7.5%
2014
2015
Main markets
The Division turned in solid performances in all geographical areas,
in particular in ALMA, driven by growth in Brazil and China, and in
Europe, with very good performances in the United Kingdom, the
Benelux and Germany.
All segments contributed to growth all year long, with the pediatric
range (
Neocate
and
Nutrini
) and
Nutrison
brand within the adult
range doing particularly well.