Glanbia publishes full year results

Glanbia, the global nutrition group, announces its results for the year ended 2 January 2016. Siobhán Talbot, group managing director, comments, “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.”

Total group revenue including the group’s share of joint ventures and associates was €3,667.4 million, down 7.4% constant currency. Total group EBITA was €310.7 million, up 9.0% constant currency. Total group EBITA margin was 8.5%, up 130 basis points constant currency.

Glanbia’s investment programme to underpin the development of its nutrition strategy continued in 2015. Total capital expenditure investment was €123.6 million in 2015, of which €86.2 million was strategic investment in support of the organic growth potential of the business. This primarily included the commissioning of a new high-end whey production facility by Global Ingredients in Idaho and the construction of additional packing capability in the Glanbia Performance Nutrition plant in Chicago.