FDBusiness.com

Strong Growth in Global Performance Nutrition Drives Glanbia

 Breaking News
  • British Brewers Decrease Their CO2 Emissions by 42% Total CO2 emissions from the UK’s brewing industry have fallen by 42% in the last decade (2008 to 2018) – a reduction of 202,952 tonnes – according to new research conducted by the British Beer & Pub Association (BBPA). The research also found that the energy used to brew a pint of beer in the [...]...
  • Small Irish Snack Manufacturer Secures Major Contract With Tesco Pinkfinch, a County Down-based fruit snacks supplier, has secured a major contract with Tesco Ireland, which will see an estimated 100,000 bags sold annually. From launching his business in his parent’s spare bedroom five years ago,  Pinkfinch founder Michael Heaslip (pictured) has grown his innovative product line across Ireland, the UK, Europe, and the Middle East,  with [...]...
  • UK Supermarkets are Struggling to Grow The latest grocery market share figures, published by Kantar, show year-on-year supermarket sales were flat during the 12 weeks to 11 August 2019 as the tough comparisons with 2018’s strong summer continue. The memory of last year still looms large for retailers and this summer’s comparatively poor weather, combined with low levels of like-for-like price [...]...
  • Tickets Still Available For 2019 Irish Food & Drink Business Awards Some tickets are still available for the 2019 Irish Food & Drink Business Awards presentation ceremony and gala dinner to be held at the Citywest Hotel in Dublin on the evening of Thursday, 5 September 2019. The winners of the 2019 Awards will be named at the event. The prestigious awards programme, which was first introduced [...]...
  • Nestlé UK Launches New On-trend Flavours Nestlé has introduced two new on-trend flavours to its much-loved Munchies brand in the UK and Ireland. Available in 101g sharing bags, new Munchies Chocolate Fudge Brownie and Munchies Cookie Dough are the first new Munchies products since 1996. The new flavours were created at Nestlé’s confectionery sites in York and Fawdon, Newcastle. Munchies Brand Manager [...]...

Strong Growth in Global Performance Nutrition Drives Glanbia

Strong Growth in Global Performance Nutrition Drives Glanbia
March 13
12:56 2014

Driven by its two growth platforms, Global Performance Nutrition and Global Ingredients, Irish dairy group Glanbia has delivered a good operating and financial performance for 2013. Total group revenues increased by 8% (10.5% constant currency) to €3.3 billion. Total group EBITA at €226.7 million was up 5.6% (9.2% constant currency). Total group EBITA margin was 6.9%, reflecting a 7.9% margin in Glanbia’s wholly owned businesses – down 10 basis points – and 4.3% in joint ventures and associates – down 30 basis points. Adjusted earnings per share was 55.46 cents, up 8.0%. This equates to 11.9% growth on a constant currency basis, ahead of our previously issued guidance.

The results were underpinned by a strong performance by Global Performance Nutrition as branded revenue growth drove a 100 basis point margin expansion and an EBITA increase of 27.9% on a constant currency basis. The Global Ingredients business increased revenues on a constant currency basis by 11.5% and EBITA increased 8.1% while margins were down by 30 basis points. Dairy Ireland’s results declined significantly due to the performance of Consumer Products while Joint Ventures & Associates delivered a positive performance overall.

Glanbia continued to invest significantly in the business over the course of 2013 with total capital expenditure of €112 million. The key projects undertaken in 2013 include capacity expansion in Global Performance Nutrition, Ingredient Technologies’ new state-of-the-art specialty grain processing facility in South Dakota and the new Cheese Innovation Centre in US Cheese. The return on capital employed achieved by the Group in 2013 increased by 10 basis points to 14.2%, a good result in the context of a substantial ongoing capital investment programme.

Siobhan Talbot, group managing director of Glanbia.

The acquisition of Nutramino Holding, a leading Scandinavian sports nutrition business with operations in Denmark, Sweden and Norway, in January 2014 is aligned with the growth strategy of Global Performance Nutrition. Nutramino focuses primarily on branded, ready-to-consume products sold through the gym and convenience channels. The acquisition gives Glanbia a strong foothold in the Scandinavian market and offers the potential to leverage Nutramino capability in the convenience sector in other markets. The business was acquired for a total consideration of approximately €25.5 million.

Siobhan Talbot, group managing director of Glanbia, says: “Our two global growth platforms performed well, particularly Global Performance Nutrition where strong momentum in branded revenue growth and international expansion delivered a 28% increase in profitability, on a constant currency basis. We expect 2014 to be another positive year for the group. We will benefit from our ongoing organic investment programme, good prospects for Global Ingredients and Global Performance Nutrition and an expected improvement in Dairy Ireland.”

She adds: “We are guiding 8% to 10% growth in adjusted earnings per share for the full year 2014, on a constant currency basis. Our ambition is to continue to deliver a similar annual organic growth rate through to 2018, while seeking to sustain a return on capital employed in excess of 12%.”

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements