Glanbia, the global performance nutrition and ingredients group, has announced its results for the year ended 3 January 2015. The company reported a fifth consecutive year of double digit growth for Glanbia in 2014. The annual results were buoyed by Glanbia’s recent acquisition of Isopure, prompting speculation that further acquisitions may be in the pipeline.
Results highlights:
- Delivery of 10.1% growth in adjusted earnings per share, constant currency, and a 10.0% increase in dividends;
- Total group revenues of €3,522 million, up 6.9% on prior year, (constant currency basis);
- Strong results from Glanbia’s Global Performance Nutrition division where revenue growth of 13.5% and a 120 basis point margin expansion drove a 26.0% increase in EBITA (constant currency);
- ‘Satisfactory performance’ by Global Ingredients division in the context of challenging dairy market dynamics with
- EBITA of €100.4 million, broadly in line with prior year;
- Strategic investments in capital expenditure and acquisitions totaled €222 million, further building Glanbia’s two growth platforms;
- Strong balance sheet with free cash flow up 74% to €153 million; and
- Positive 2015 outlook, with guidance of 9% to 11% growth in adjusted earnings per share (constant currency).
Commenting yesterday on the results, Siobhán Talbot, Group Managing Director, said “I am pleased to announce the fifth consecutive year of double digit growth for Glanbia in 2014 with a 10.1% increase in adjusted earnings per share, constant currency. Our focus on two scale growth platforms, Global Performance Nutrition and Global Ingredients, continues to drive earnings as we leverage our market leadership and sector expertise.”
She continued, “In Performance Nutrition our investment in brand growth, innovation and acquisitions drove a strong performance. Our Global Ingredients business delivered a satisfactory overall performance in the context of challenging dairy market dynamics in 2014. The outlook for 2015 is positive and we are guiding 9% to 11% growth in adjusted earnings per share, constant currency. We continue to successfully execute our growth strategy and this positions Glanbia well for the delivery of our objectives from 2015 to 2018.”
www.glanbia.com
www.theisopurecompany.com
