Yahoo Finance

• Revenue: $3.8 billion, an increase of 5.8% on a pro forma constant currency basis.

• Adjusted Earnings Per Share (EPS): $0.40, a growth of 6.8%.

• Pre-exceptional EBITDA: $551.3 million, up 11.8%.

• EBITDA Margin: 14.4%, an increase of 80 basis points.

• Dividend Increase: 10% increase, with EUR102 million returned via share buyback programs.

• Glanbia Performance Nutrition (GPN) Revenue Growth: 0.5%.

• GPN EBITDA Growth: 8.3%, with an EBITDA margin of 16.9%.

• Optimum Nutrition Revenue Growth: 7.5%, with volume growth of 10.4%.

• Nutritional Solutions Revenue Growth: 14% on a constant currency and pro forma basis.

• Nutritional Solutions EBITDA: $200 million, up 27.2%.

• Operating Cash Flow: $485 million, with a conversion rate of 88%.

• Net Debt: $436 million, with a net debt to EBITDA ratio of 0.8 times.

• Capital Expenditure: $58 million on strategic capital expenditure.

• Flavor Producers Acquisition: $300 million.

• Exceptional Items: Net after-tax charge of $145.6 million.

• 2025 Adjusted EPS Guidance: $0.124 to $0.130, second half weighted.

• Warning! GuruFocus has detected 3 Warning Signs with GLAPF.

Release Date: February 26, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Glanbia PLC (GLAPF) reported a strong performance in 2024 with adjusted earnings per share growing by 6.8% to $0.40.

• The company delivered revenues of $3.8 billion, representing an increase of 5.8% on a pro forma constant currency basis.

• Glanbia PLC (GLAPF) raised its dividend by 10% and returned EUR102 million to shareholders via share buyback programs in 2024.

• The Nutritional Solutions segment saw revenue growth of 14% on a constant currency and pro forma basis, driven by strong demand in pre-mix and protein solutions.

• The company announced a further EUR100 million share buyback for 2025, indicating confidence in its financial position and future prospects.

Negative Points

• Glanbia PLC (GLAPF) faced significant headwinds from unprecedented high-end whey costs, impacting the GPN business.

• The company expects a double-digit increase in GPN's cost of goods sold, representing a headwind of almost $200 million in 2025.

• The decision to exit the SlimFast brand and Body & Fit direct-to-consumer e-commerce business indicates challenges in these areas.

• Competitive dynamics in the club channel and increased competition in the second half of the year negatively impacted revenue in the Americas.

• The company anticipates EBITDA margins to be lower in the first half of 2025 due to increased input costs, with only partial mitigation expected.