Glanbia delivers sixth consecutive year of double digit earnings growth
24 February 2016 - Glanbia plc (“Glanbia”, the “Group”, the “plc”), the global nutrition group, announces its results for the year ended 2 January 2016.
Full Year 2015 Results highlights
- Adjusted earnings per share 79.14 cent, up 10.6% constant currency (up 29.4% reported);
- EBITA in the wholly owned business €271.0 million, up 10.5%, constant currency (up 29.9% reported);
- EBITA margins in the wholly owned business 9.8%, up 130 basis points, constant currency (up 160 basis points reported);
- Strong result from Glanbia Performance Nutrition with EBITA of €135.6 million a 28.3% increase, constant currency (up 52.0% reported);
- Global Ingredients delivered a resilient result in difficult dairy markets with EBITA of €106.6 million an 11.6 % decrease, constant currency (up 6.2% reported);
- Dairy Ireland EBITA of €28.8 million as margins recovered to 4.5%;
- Joint Ventures & Associates performed in line with expectations;
- Operating cash flow improved by €75.2 million to €281.4 million; and
- Recommended full year dividend of 12.1 cent per share, an increase of 10%.
Commenting today, Siobhán Talbot, Group Managing Director, said:
“I am pleased to announce the sixth consecutive year of double digit growth for Glanbia in 2015 with a 10.6% increase in adjusted earnings per share, constant currency. On a reported basis, earnings per share grew by 29.4% reflecting the translation effect of a strong US dollar. The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets. Glanbia Performance Nutrition was the main driver of earnings growth supported by Dairy Ireland which saw a recovery in performance in 2015. The outlook for 2016 is positive and we are guiding 8% to 10% growth in adjusted earnings per share, constant currency.
Glanbia’s strategy is to respond to the global megatrends of nutrition as consumers focus on active, healthy lifestyles, seek protein and exert a powerful focus on where their food comes from. In responding to these trends, Glanbia takes pure and clean ingredients including milk, whey and grains and using our expertise, we produce high-quality nutritional ingredients and branded products for consumers worldwide. Our unique portfolio of performance nutrition brands and nutritional ingredients are right at the heart of emerging growth opportunities. The outlook for 2016 is positive and we are guiding 8% to 10% growth in adjusted earnings per share, constant currency.”