Group revenue rose 6.0% to $1.93 billion
LONDON: Glanbia plc reported a resilient performance for the first half of 2025, with adjusted earnings per share (EPS) ahead of expectations, prompting an upgrade to its full-year guidance.
The global nutrition group posted revenue growth across its Health & Nutrition (H&N) and Dairy Nutrition (DN) segments, while Performance Nutrition (PN) showed sequential improvement despite macroeconomic headwinds.
Financial Highlights (HY 2025 vs HY 2024):
- Group revenue rose 6.0% to $1.93 billion, driven by volume (+0.9%), pricing (+3.4%), and acquisitions (+1.7%).
- Group EBITDA pre-exceptional declined 7.5% to $241.3 million.
- Adjusted EPS fell 7.5% to 63.03 cents, but exceeded internal forecasts.
Segment Performance:
- Performance Nutrition: Revenue declined 3.8%, impacted by SlimFast and Body & Fit exits. Optimum Nutrition showed Q2 growth of 2%, signaling recovery. EBITDA margin contracted to 12.7% due to elevated whey costs.
- Health & Nutrition: Revenue surged 18.0%, with acquisitions contributing 11.5%. EBITDA margin expanded to 19.5%.
- Dairy Nutrition: Revenue climbed 14.1%, with margin improving to 9.5%.
Strategic Moves:
- Acquisition of Sweetmix, a Brazil-based nutritional premix firm, to bolster H&N’s Latin American footprint.
- Sale agreement for Body & Fit, streamlining PN’s direct-to-consumer portfolio.
- Transformation programme progressing, targeting $50 million in annual savings by 2027.
Capital Allocation & Governance:
- Interim dividend raised 10% to 17.20 €cent; €62.8 million returned via share buybacks.
- Paul Duffy to succeed Donard Gaynor as Chair on January 1, 2026.
Upgraded FY 2025 Outlook:
- Adjusted EPS now expected between 130–133 cents (previously 124–130 cents).
- PN like-for-like revenue growth forecast at 2–3%.
- H&N EBITDA margin projected at 18–19%.
CEO Hugh McGuire said: “Strong execution in H&N and DN drove first-half growth, while PN showed encouraging signs of recovery. With continued momentum and strategic investments, we are confident in our upgraded full-year outlook.”
Glanbia will host a Capital Markets Day on November 19 to outline its medium-term growth strategy.