€2.8 billion revenue a highlight of Glanbia PLC half year results - issued today

Glanbia PLC has issued half year results, today. 

Half year highlights include:

• Group revenues of €2.8 billion (HY 2021: €2 billion) represents growth of 26.8% constant currency (up 38.5% reported);

• Strong operating performance:

      - Glanbia Performance Nutrition (“GPN”) branded like-for-like volume +1.9%, pricing +13.9%

      - Nutritional Solutions (“NS”) like-for-like volume +1.6%, pricing +17.9%;

• Group EBITA pre-exceptional €171.7m (HY 2021: €159.9m), a decrease of 3.5% constant currency (up 7.4% reported);

• Adjusted earnings per share1 (“EPS”) ahead of expectations at 52.31 cent (HY 2021: 48.84 cent), a decrease of 3.8% constant currency (up 7.1% reported);

• Basic EPS of 66.13 cent (HY 2021: 27.90 cent);

• Net debt to adjusted EBITDA ratio of 1.83 times (HY 2021: 1.51 times);

• Completed the disposal of 40% interest in Glanbia Ireland and acquired Sterling Technology, a US bioactive ingredient company;

• Continued progress against ESG targets and Board diversity increased;

• Returned €127.1m to shareholders in the period via share buybacks;

• Interim dividend increased by 10% to 12.93 cent per share; and

• Strong H2 EBITA growth expected over prior year – full year guidance upgraded to 9% to 13% adjusted EPS constant currency growth (21% to 25% reported2)

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