(CercleFinance.com) – Danone announces its decision to launch the process of transferring control of its Essential Dairy and Plant-based (EDP) activity in Russia, ‘the best option to ensure the continuity of the operational performance of this activity’.
During the first nine months of 2022, the EDP activity in Russia represented approximately 5% of Danone’s consolidated sales, but had a dilutive contribution to the like-for-like sales growth and the group’s trading operating profit margin .
The operation could lead to a depreciation of up to one billion euros. Danone plans, following the transaction, which will be subject to the approval of the competent authorities, to deconsolidate its EDP activity in Russia.