Danone: Strong Q2 performance and solid H1 results, demonstrating the relevance of our health-focused portfolio

Danone reported strong H1 2026 results with like-for-like sales growth of +3.5%, driven by solid performance across all regions (EMEA +2.1%, Americas +3.9%, APAC +5.6%). Recurring operating margin improved to 13.3% (+12 bps) despite inflationary pressures, supported by productivity gains. The company confirmed its 2026 guidance of +3% to +5% LFL sales growth with recurring operating income growing faster than sales. Recent acquisitions of Huel and Made Group strengthen its health-focused portfolio.