Danone stock reports H1 growth as bond issue reaches EUR 1.5 billion

Danone stock stood at EUR 60.14 on Euronext Paris on September 24, 2026, down 0.30 percent, as the food group combined modest H1 growth with a fresh EUR 1.5 billion bond issue. Ideal Investisseur reported H1 2026 revenue of EUR 13.936 billion, up 1.4 percent.

H1 revenue grows, cash flow falls

The operating picture is mixed in hard numbers. H1 net income reached EUR 1.175 billion, while free cash flow fell 27.3 percent year over year to EUR 852 million, according to Ideal Investisseur. Danone kept its 2026 comparable revenue growth objective at 3 percent to 5 percent, creating a clear gap between the first-half 1.4 percent reported growth rate and the full-year ambition.

Bond issue extends debt maturity

Danone announced a three-tranche bond issue totaling EUR 1.5 billion on September 21, 2026. The offering comprised EUR 500 million of 18-month notes, EUR 500 million of five-year notes at a 4.0910 percent coupon and EUR 500 million of nine-year notes at a 4.4180 percent coupon, according to Yahoo Finance.

That refinancing effort arrives alongside higher leverage. Net debt rose to EUR 9.0 billion from EUR 8.4 billion at the end of 2025, making cash conversion an important counterweight to the company revenue target.

Deutsche Bank sees limited upside

Boursedirect reported on September 22, 2026, that Deutsche Bank raised Danone to Hold from Sell while leaving its EUR 61 price target unchanged. The bank also cited a 21.4 percent year-to-date share decline and a 12-month forward P/E contraction from 18.7 to 14.5.

Stock stays near its yearly low

Danone's EUR 60.14 reference price was EUR 0.14 above its 52-week low of EUR 60.00 and below its 52-week high of EUR 80.14 on September 24, 2026. The company had a market capitalization of EUR 41.096 billion and traded 1,216,817 shares during the session.