Glanbia held its AGM at the Killashee Hotel in Naas, Co. Kildare on Wednesday, issuing an Interim Management Statement for the three month period ended 5th April 2025 in conjunction with the event.
Quarter 1 2025 Group performance is in line with expectations, and in the three months ended 5th April, wholly-owned revenue increased by 7.2% compared to the same period in 2024. The main drivers of the revenue increase were a price increase of 5.2% and an increase of 2.7% from acquisitions, partially offset by a volume decrease of -0.7%.
CEO Hugh McGuire reiterated a full year guidance of adjusted EPS of 124 $cent – 130 $cent.
“I am pleased to report that Glanbia delivered a resilient performance during the first quarter by delivering Group like-for-like revenue growth of 4.5% whilst navigating macroeconomic volatility and short-term headwinds in our Performance Nutrition division,” Hugh McGuire, Chief Executive Officer, said.
“Our Health & Nutrition and Dairy Nutrition segments delivered a strong performance. As previously announced, Performance Nutrition is facing short-term challenges in the US club channel and we are offsetting this by delivering good growth in our online and food, drug & mass channels and international markets, which is supported by a strong innovation pipeline,” he said.
The group is focused on executing its group-wide transformation programme – a three-year initiative expected to generate annual cost savings of at least $50 million by 2027 by driving efficiencies across the new operating model which will support the next phase of growth through three focused divisions. Dairy Nutrition is on track to be stood up as a standalone business by 1stJuly, 2025 with a new CEO and leadership team. The exit of non-core businesses is underway and the Group is focused on unlocking supply chain efficiencies and accelerating digital transformation.
“We have made good progress on our group-wide transformation programme which is focused on delivering efficiencies, optimising our portfolio and maximising long-term value for shareholders,” Mr McGuire continued. “Significant efforts have been made to reduce the impact of input costs on the group. We now have good visibility of costs to the end of the year and we are reiterating our margin expectations for PN.
“With the first quarter having progressed as planned, and whilst noting the ongoing uncertainty in relation to direct tariffs, we are pleased to reiterate our 2025 full year guidance of adjusted EPS2 in the range of 124 $cent – 130 $cent (-11% to -7% constant currency),” he noted.
At the AGM, Mr Senan Murphy joined the group’s Board as a non-executive director. Mr Murphy will also join the Audit and Sustainability Board committees and will become chairman of the Sustainability committee on appointment. Also, Ms Ilona Haaijer stepped down from the Audit Committee.
