Clean Break: the company completely halting Russian engagements or exiting Russia

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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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Revenue(RF), mln.USD
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Staff(RF), 2021

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. Involuntary/forced exit. 09.2023: The full name was changed from DANONE TRADE LLC to H&N TRADE LLC | 20.09.2023: The entry about the founder of JSC "DANONE RUSSIA" was deleted; JSC "H&N" becomes the new founder of the organization.

December 08, 2023Danone’s Chechen takeover: inside a Russian expropriation
August 18, 2023Danone in Russia will be renamed H&N in September
August 07, 2023FT: The largest European companies have lost 100 billion euros in Russia since the beginning of the war in Ukraine
August 07, 2023FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion
August 06, 2023European companies suffer €100bn hit from Russia operations
July 26, 2023Danone writes down Russia assets, beats on like-for-like sales
July 16, 2023Moscow seizes Russian subsidiaries of Danone and Carlsberg’s Baltika
July 16, 2023Russia takes control of shares in local Danone subsidiary after Putin signs decree
April 07, 2023Gone into milk: Danone plans to withdraw part of the brands from the Russian market
March 13, 2023Letter sent by B4Ukraine to the company and the response provided
February 22, 2023ANNUAL FINANCIAL REPORT 2022
February 12, 2023For Fear or Money, Consumer Giants Are Staying in Russia
February 03, 2023Yoghurt has a return date
November 30, 2022Yale's SOM List
October 14, 2022Danone 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, 2022Danone says "all options on the table" on Russia business
March 06, 2022At Danone, we are all deeply affected by what we are seeing every day since the invasion of Ukraine
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