Kerry reported group revenue of €4.1 billion, representing 15.2% organic growth.
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Kerry has released its interim management report for 2022, resulting in strong growth across a dynamic marketplace.
Related: Kerry Debuts Taste Facility in Africa
Highlights of the report include:
- Group revenue of €4.1 billion representing 15.2% organic growth.
- Taste & Nutrition reported revenue increased by 27.5% to €3,445m in the period driven by volume growth, positive pricing, favorable foreign currency impacts and a positive contribution from acquisitions net of disposals.
- Group pricing +8.3% (Q2: +10.4%).
- Group EBITDA of €518m with margin % maintained.
- Adjusted EPS of 176.4 cent; +9.0% on a constant currency basis (16.1% reported currency growth).
- Basic EPS of 128.4 cent (H1 2021: 128.2 cent).
- Free cash flow of €226m reflecting 72% cash conversion.
- Interim dividend per share of 31.4 cent (H1 2021: 28.5 cent).
- Divestment of Russian subsidiary completed post the period end.
- Full-year EPS guidance reaffirmed.
- Reported revenue in the Americas region increased by 29.1% to €1,934m in the period driven by volume growth, positive pricing, favorable foreign currency impacts and contribution from acquisitions.
- Reported revenue in Europe increased by 27.5% to €729m in the period driven by volume growth, positive pricing, favorable foreign currency impacts and a positive contribution from acquisitions net of disposals.
- Reported revenue in the APMEA region increased by 26.1% to €768m in the period driven by volume growth, positive pricing, favorable foreign currency impacts and contribution from acquisitions.
- Dairy Ireland delivered solid overall volume growth through the period, while managing the heightened inflationary cost environment, which resulted in significant price increases across the business.
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