Chairman's statement Our global footprint

Our vision and strategy

Our International business model

Innovation rate
Science-based innovation
creates value-added
ingredients and solutions
targeting higher margin
products for markets and
segments with strong
growth prospects.

Nutritional ingredients Nutritional ingredients for the health and wellness, sports and lifestyle sectors have strong growth drivers including favourable demographics, increasing obesity, rising levels of self-care and a growing understanding of the relationship between diet and exercise

Whey ingredients Whey ingredients for the health and wellness, sports and lifestyle sectors have strong growth drivers including favourable demographics, increasing obesity, rising levels of self-care and a growing understanding of the relationship between diet and exercise

Global cheese and dairy ingredients Large scale processing and manufacturing facilities are at the heart of Glanbia. These are efficient, cost competitive and operationally strong with high levels of productivity. Through these facilities Glanbia processes a large supply of milk, which is then manufactured into a range of cheese and dairy products. Also derived from these processes is a large and valuable stream of whey proteins.

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Innovation
Glanbia has two Innovation Centres based in Ireland and the USA focusing on developing a range of science-based food and nutritional ingredients and solutions in areas such as weight loss, protein bars, sports nutrition, long-life dairy-based beverages and ingredients, functional dairy foods, and value-added consumer food products and packaging formats.

Our strategic objectives

Glanbia's strategic objectives are focused on developing a more diversified earnings base, achieving a sustainable operating margin, generating strong cash flow and delivering continuous earnings growth.

While growing internationalisation and complementary acquisitions are significant drivers of growth, 2009 will be a period of consolidation. This prudent approach reflects the level of investment by the Group in recent years and the current global credit and economic environment.

Our competencies

Glanbia has a range of competencies that help in continuing to grow and develop the business. These are:

• World-class and proven manufacturing skills in a wide variety of dairy products and ingredients;
• Strong technical and innovation skills, which are an important part of delivering applications for customers and driving new formats, products and services;
• Excellent relationships and contacts in all key beverage, dairy food and food ingredients segments; and
• Partnering with leading companies and organisations in high growth markets.

2007 - 2009 Targets