Danone looks to recovery in 2021 Danone has published its fourth quarter and full year results. In 2020, consolidated sales were €23.6bn ($28.6bn), down -1.5% on a like-for-like basis, with stable volumes (-0.1%) and a -1.5% decrease in value reflecting negative category and country mix, especially in Waters and Specialized Nutrition. On a reported basis, sales were down -6.6%, mainly driven by the negative impact of exchange rates (-5%) that resulted from currencies devaluation against the Euro in the US, Latin America, Indonesia and Russia. Reported sales were also impacted by a negative scope effect (-0.4%), resulting from the deconsolidation from April 1, 2019 of Earthbound Farm, and by a +0.3% organic contribution of Argentina to growth.