Glanbia reports strong 2024 growth with positive outlook for 2025
Glanbia delivered a 6.8% rise in adjusted earnings per share (EPS) in 2024, driven by strong growth in its nutrition brands and ingredients
Print26 February 2025
Glanbia has reported a strong performance for 2024, with adjusted earnings per share (EPS) rising by 6.8% to 140.03$c, driven by growth in its better nutrition brands and ingredients.
Commenting on this performance, Hugh McGuire, chief executive officer, Glanbia, said: “Optimum Nutrition and Isopure, our protein growth brands, delivered double digit volume growth in the year and we saw good growth across our premix and protein solutions businesses within Nutritional Solutions.”
Glanbia’s strong operational and financial performance continued to generate excellent cash flow, with 88.0% cash conversion in 2024.
“We increased the dividend by 10% and returned €102 million to shareholders via our share buyback programme, including €2 million of a €50 million buyback programme announced in November 2024 which is ongoing and authority for an additional €100 million of share buybacks announced today,” he said.
Glanbia continues to evolve and optimise its portfolio, which included the acquisition of Flavor Producers in April and the decision to exit the Body & Fit business and the SlimFast brand.
McGuire noted: “We have commenced a multi-year group-wide transformation programme to drive efficiencies and support the next phase of growth. This includes setting up a new operating model, delivering productivity initiatives, and further optimising our portfolio, targeting annual cost savings of at least $50 million by 2027.”
These actions are designed to drive focus, unlock value and position Glanbia for its next phase of growth.
2025 Outlook
Looking ahead to 2025, Glanbia will focus on continuing to drive performance across its portfolio of better nutrition brands and ingredients, while navigating short-term input cost inflation.
Glanbia expects to deliver adjusted EPS between 124 $cent and 130 $cent in FY 2025.
This will be driven by a good performance from Health & Nutrition (“H&N”), Dairy Nutrition and the Group’s US joint venture ahead of prior year, with Performance Nutrition (“PN”) expected to deliver a decline in performance versus prior year as a result of an unprecedented level of input cost inflation.
Read more: Glanbia announces new operating model in Q3 2024 update
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