Clean Break: the company completely halting Russian engagements or exiting Russia
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Danone
Danone
Danone is a French food company, a well-known manufacturer of dairy products and other food products.
Clean Break: the company completely halting Russian engagements or exiting Russia
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29084
The company has 16 plants and 1 farm in the Russian Federation producing traditional dairy products, yogurts, desserts under the Prostokvashino, Aktivia, Actimel, Danissimo, Tyoma, and Alpro brands. France's Danone (DANO.PA) said, it will book a further 200-million-euro writedown on its Russia business after it was effectively taken over by the state, taking the overall writedown on its Russian operations to around 700 million euros.
The Company Statement
July 19, 2023
Suspend new investment in Russia. Announced Transfer: the company seeks new operator for dairy, plant-based operations. According to the results of January-September 2022, Danone's global revenue grew by 14.9%, up to €20.7 billion, year-on-year, the business of dairy products and plant-based beverages in the Russian Federation accounted for about 5%. Still operating in Russia with increasing revenue volumes in 2022 vs 2021 (+$294mn or +11%) according to RAS (Russian Accounting Standards) and Federal Tax Service of Russia data, which doesn't include IFRS adjustments and intragroup eliminations. In the company's annual report prepared in accordance with IFRS, Russia's share in gross income is $1.5 billion (~6% of the total amount). Russia seizes control of shares in Danone and Carlsberg subsidiaries.
| August 18, 2023 | Danone in Russia will be renamed H&N in September |
| August 07, 2023 | FT: The largest European companies have lost 100 billion euros in Russia since the beginning of the war in Ukraine |
| August 07, 2023 | FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion |
| August 06, 2023 | European companies suffer €100bn hit from Russia operations |
| July 26, 2023 | Danone writes down Russia assets, beats on like-for-like sales |
| July 16, 2023 | Moscow seizes Russian subsidiaries of Danone and Carlsberg’s Baltika |
| July 16, 2023 | Russia takes control of shares in local Danone subsidiary after Putin signs decree |
| April 07, 2023 | Gone into milk: Danone plans to withdraw part of the brands from the Russian market |
| March 13, 2023 | Letter sent by B4Ukraine to the company and the response provided |
| February 22, 2023 | ANNUAL FINANCIAL REPORT 2022 |
| February 12, 2023 | For Fear or Money, Consumer Giants Are Staying in Russia |
| February 03, 2023 | Yoghurt has a return date |
| November 30, 2022 | Yale's SOM List |
| October 14, 2022 | Danone to Take €1 Billion Hit From Exiting Russia Dairy Unit |
| August 10, 2022 | "Mommy, it's necessary to knock...". Which Western companies have the most factories in Russia? |
| April 05, 2022 | Danone says "all options on the table" on Russia business |
| March 06, 2022 | At Danone, we are all deeply affected by what we are seeing every day since the invasion of Ukraine |
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