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Danone company analysis Financial Statement Analysis

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  1. Corporate profile including the corporate history and ownership structure
  2. 2nd Quarter Results and Forecast
  3. Accounting Policies
  4. Financial and Profitability Ratios

The history of the group was based on an external growth, a successions of sell and acquisitions, indeed, if we follow the major step of the company, we could see that, the first step was the merger between BSN and DANONE-GERVAIS in 1973 this merger was the beginning of the future group and create the first French food company. In 1979, consequently to the financial crisis, BSN-GERVAIS-DANONE stop it glassmaker activity. It was the very beginning of the external growth, indeed, between 1979 and 1985, the group acquires 6 companies, Amora, Maille, La Pie qui chante, Carambar, Liebig et Vandamme. In 1987, the group acquires the group Général Biscuit which own the LU brand, and in 1989, the DANONE group acquire all the affiliated companies of Nabisco. Consequently to this external growth, the turnover of BSN-GERVAIS-DANONE triple and pass from 16,5 Billion of Franc at 48,7 billions of Francs. The next major step before that Franck Riboud succeeds to his father was the acquisition of the Volvic Water in 1993.

[...] which owned the LU brand, and in 1989, the Danone group acquired all the affiliated companies of Nabisco. As a result to this external growth, the turnover of BSN-GERVAIS-DANONE tripled and surpassed from 16.5 billion francs to 48.7 billion francs. The next major step was that Franck Riboud came into charge of the company after his father with the acquisition of the Volvic Water in 1993. The succession of Antoine Riboud by his son Franck Riboud could be considered as a radical change of direction, indeed, Antoine acquired a lot of brands in order to create a major French food company, but his son, Franck decided to focus the group on three sectors which are the Health pole, where the Danone group is the world leader in dairy products, the snacking pole where the group is the second, and in the sweet biscuits and the beverage pole the group is the number two for mineral water. [...]

[...] Intangible assets are reviewed for impairment at least annually and whenever events or circumstances indicate that they may be impaired. Depreciation of property, plant and equipments is calculated on a straight- line basis over the estimated span of good working: - Buildings : 15 40 Years; - Machinery and Equipment: 5 15 Years; - Others: 3 10 Years. Financial and Profitability Ratios In order to complete this financial analysis of the Danone group, it seems essential to calculate the financial ratios of the group. [...]

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