2023 in review

Chairman's statement

Donard Gaynor Group Chairman and Non-Executive Director

Chairman's statement

"I believe that our culture is a major differentiator for Glanbia and a significant source of our ongoing competitive advantage."

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CEO’s statement

Hugh McGuire Chief Executive Officer and Executive Director

CEO’s review

“2023 was another year of strong performance for Glanbia plc, with the Group delivering record earnings in terms of
adjusted earnings per share. I look forward to leading the Group in its next phase of growth."

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A message from our CEO

Financial highlights

Revenue

Name Value
2023 5.4BN #FFC82D 2023
2022 5.9BN #283A59 2022

Return on Capital Employed

Name Value
2023 12.2% #FFC82D 2023
2022 10.7% #283A59 2022

Adjusted EPS

Name Value
2023 131.37C #FFC82D 2023
2022 109.57C #283A59 2022

Profit after tax

Name Value
2023 347.7M #FFC82D 2023
2022 210.3M #283A59 2022

EBITA (pre-exceptional)

Name Value
2023 424M #FFC82D 2023
2022 365.7M #283A59 2022

OCF cash conversion

Name Value
2023 90.4% #FFC82D 2023
2022 85.7% #283A59 2022

Market trends and growth drivers

We innovate and collaborate with our customers and anticipate and monitor consumer market trends. This work ensures that we can influence and drive market trends rather than simply respond to them.

Maximise athletic performance

The importance of nutrition in sports and fitness plays an essential role in optimising training outcomes, improving recovery periods, maintaining optimal body weight, minimising the risk of injuries and ensuring performance consistency. We’re meeting this market need with our world-leading brands and ingredients.

A desire for healthy, active lifestyles

More people are focused on nutrition that supports a healthy and active lifestyle as well as boosting their mental health. Consumer interest in fortified foods and beverages with functional claims continues to increase. We’re meeting this market need with trusted healthy lifestyle brands and ingredients.

NUTRITION FOCUSED BRANDS AND INGREDIENTS

Delivering nutrition

We are a better nutrition company, home to consumer brands and ingredients that help people around the world feel strong, nourished, and to perform well at any age. We have two core growth platforms; Glanbia Nutritional Solutions and Glanbia Performance Nutrition. There is a strong complementary thread of protein nutrition expertise across both our businesses enabling us to deliver a range of protein ingredient solutions and leading consumer brands.

Performance and lifestyle brands

Glanbia Performance Nutrition is the number one sports nutrition company in the world, with leading brands in performance and lifestyle nutrition. Our mission is to inspire people everywhere to achieve their performance and healthy lifestyle goals.

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protein snacks, bars, balls

Nutrition solutions

Glanbia Nutritionals is a science-led, innovative producer of dairy and non-dairy solutions, including cheese, nutritional and functional nutrition solutions and flavour solutions.

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OUR BUSINESS STRATEGY

Delivering performance

We have three strategic priorities: grow the core; optimise our business; and disciplined capital allocation. These will help us to achieve our 2025 ambitions. To support these priorities and harness Glanbia’s global growth potential, we will continue to develop our key enablers, our world-class strategic capabilities and our strong assets.

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strategy three points
Our competitive advantage
INVESTMENT CASE

Unique competitive advantage

Glanbia is the world’s no.1 sports nutrition company and a trusted partner to the world’s food and beverage industry through our nutritionals business. We aim to deliver long-term value for our shareholders through our strategy for future growth by meeting the growing consumer demand for healthier nutrition solutions which is supported by our strong cash generation and balance sheet. 

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ESG PERFORMANCE

Delivering impact

What matters most at Glanbia: People. Planet. Performance. For us, focusing on these areas is not just a better path to profit. It's a mindset, and commitment to action that ripples throughout Glanbia, at every level. Guided by our materiality assessment our ambition and strategy is focused around our most material ESG impacts.

50 %

absolute reduction in operations' emissions by 2030 vs 2018 baseline

100 %

of consumer-facing packaging to be recyclable, reusable or compostable by 2030

empty space

Delivering impact

Our stories

How we are delivering for success.

Reports archive

TITLE REPORT ZIP OTHER ID
Sustainability Report 2023 PDF 1745
2023 Annual Report PDF 1720