Danone expects a loss of 70 million euros due to the infant formula recall incident
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Glonghui, February 20th｜Danone has made its first estimate of the losses caused by the recent recall of infant formula due to contamination fears, stating that it expects to suffer an economic loss of 35 million to 70 million euros (approximately $82.4 million) in the first quarter of this year. "After experiencing that one-off shock, we should gradually return to normal," Deputy CEO Juergen Esser said in an interview. "Therefore, we also confidently confirmed our full-year performance outlook this morning."
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