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2019 consolidated financial statements and statutory auditors report

Loans and guarantees 
In 2019, as in 2018, no loan or guarantee was granted or established by the Company or its subsidiaries on behalf of Executive 
Committee members. 
Note 17. Subsequent events 
In February 2020, Danone and Harrogate Water Brands announced that they have entered into a final agreement under which Danone 
will acquire a majority stake in Harrogate Water Brands, the parent company of British water brand, Harrogate Spring Water, and ethical 
brand Thirsty Planet. With revenues of approximately £20 million, Harrogate Spring Water is one of the fastest growing players in the 
sector, holding strong positions in Foodservice and On Premise channels. The closing of the transaction is subject to regulatory 
approval. 
In addition, the Covid-19 epidemic is likely to have a negative impact on the Waters and Specialized Nutrition Reporting Entities. At this 
stage, this event does not call into question the valuation of assets dedicated to activities in China at December 31, 2019. 
To the Company’s knowledge, no other material events occurred after the approval date of the 2019 consolidated financial statements 
(approved by the Board of Directors on February 25, 2020). 


DANONE Consolidated financial statements 2019 59 
Note 18. Fees to the Statutory Auditors and 
members of their networks
PricewaterhouseCoopers 
Ernst & Young Audit 
(in € millions, except percentage) 
2018 
2019 
2018 
2019 
Statutory audits: certification of the individual 
and consolidated financial statements
4.4 
79% 
4.6 
68% 
5.2 
86% 
5.2 
77% 
Services other than the certification of the 
financial statements 
1.2 
21% 
2.2 
32% 
0.8 
14% 
1.6 
23% 

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