Delivering on our ambition
Glanbia has evolved and grown over the past decade. Today, we are a better nutrition company, the home of consumer brands and ingredients that nourish millions around the world. The choices we do – and don’t – make, are guided by our purpose. Our strategic priorities help us achieve our ambitions and harness Glanbia’s global growth potential.
Our strategy
We have defined a clear set of strategic priorities: grow the core; optimise our business; and disciplined capital allocation will help us to achieve our ambitions. We continue to develop our key enablers, our world-class strategic capabilities and our strong assets.
Our key enablers
Powerful consumer trends
Our markets have evolved and we are evolving with them, understanding and staying close to our consumers and customers.
Culture and talent
Our culture and talent are key sources of competitive advantage for us.
Disciplined financial management
We invest in the future success of our business. This investment supports the delivery of a strong performance and enables sustainable growth.
Sustainable operations
We seek to maintain a strong position on key sustainability issues in our sector including food safety and quality, diversity, equity, and inclusion and in particular our environmental commitments.
Strategy in action
How we're delivering on our ambition of better nutrition for every step of life’s journey.
Our strategic priorities
Our core brands and ingredients hold market-leading positions in categories that are driven by strong underlying health and wellness trends.
Our strategy
- Capture global potential of billion dollar ON brand.
- Build North America’s branded lifestyle nutrition platform.
- Continue to scale our international business.
- Continue to innovate our core brands and ingredients.
2024 progress
- GPN revenue growth of 0.5% constant currency, with strong growth in Optimum Nutrition and healthy lifestyle portfolio.
- GN NS volume growth of 3.6%
- Optimum Nutrition revenue growth of 7.5% constant currency.
- Scaled international business delivering 2.3% revenue growth constant currency.
- Continued to invest in innovation and capacity.
- Expanded capabilities with the acquisition of Flavor Producers.
Looking ahead to 2025
- Drive distribution and visibility for Optimum Nutrition while consistently recruiting performance-driven consumers in and outside the category.
- Accelerate the growth of GPN’s healthy lifestyle portfolio.
- Scale our international business in strategic markets.
- Capture proteins growth with active lifestyle nutrition consumers through enhanced proprietary solutions.
Our strategy
- Science-led innovation.
- Refine business and operating model.
- Optimise opportunities for margin expansion.
- Digital transformation.
2024 progress
- Continued to leverage our deep innovation capability across our better nutrition brands and ingredients.
- Increased investment in marketing and capabilities to support growth agenda.
- Implemented new commercial arrangements related to our US joint venture.
- Appointed a Chief Digital and Transformation Officer to unlock opportunities for digitisation and automation.
Looking ahead to 2025
- Drive innovation in our brands and Health & Nutrition.
- Commenced a group-wide transformation programme to drive efficiencies across the new operating model and support the next phase of growth.
- Enhance productivity and drive efficiencies across operations.
Our strategy
- Accretive M&A.
- Balance between investment and return of capital to shareholders.
- Focus on cash generation.
- Portfolio optimisation.
2024 progress
- Acquired Flavor Producers, a leading flavour platform in the US;
- Transitioned to new commercial arrangements associated with the Group’s joint venture operations.
- Delivered strong cash generation with 88.0% (2023: 90.4%) operating cash conversion.
- Net debt: adjusted EBITDA 0.81 (2023: 0.50) and adjusted EBIT: adjusted net finance cost 16.7 (2023: 38.1)
- Increased dividend by 10% and returned €102 million to shareholders via share buyback programmes.
Looking ahead to 2025
- Pursue other margin accretive strategic M&A opportunities to complement the current portfolio.
- Maintain progressive capital allocation strategy through mechanisms such as dividends and share buyback programmes.
- Identify opportunities to reallocate capital and maximise growth.
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