Full Year 2025 Kerry Group PLC Earnings Call Transcript
Key Points
- Kerry Group PLC (KRYAF) reported a strong in-market volume performance with a 3% growth, outperforming end markets.
- The company achieved an 80 basis points expansion in EBITDA margins, reaching just under 18%.
- Constant currency EPS growth was 7.5% in 2025, despite the dilution from the Dairy Ireland disposal.
- Strategic investments included opening a biotechnology center in Leipzig and expanding manufacturing presence in Egypt and East Africa.
- Innovations such as fermentation-derived taste technologies and new health-focused products were successfully launched.
- Overall market volumes remained relatively subdued, impacting growth potential.
- Europe experienced a soft finish to the year with slightly negative volume growth.
- Foreign currency translation was a 3.9% headwind due to significant movements in the US dollar and emerging market currencies.
- Net debt was higher than expected, with free cash flow slightly lower due to working capital timing impacts.
- China's volumes remained challenged, with slower-than-expected progression in the second half of the year.
Good morning and thank you for standing by. My name is John and I will be your conference operator today. At this time, I would like to welcome everyone to the Kerry Group full year 2025 results call. (Operator Instructions)
I would now like to turn the call over to William Lynch, Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning and welcome to Kerry's full year 2025 results call. I'm joined on the call by our CEO, Edmond Scanlon; and our CFO, Marguerite Larkin. Edmond and Marguerite will take you through today's presentation, and following this, we will open up the lines to your questions.
Before we begin, please take note of a disclaimer regarding forward-looking statements. I will now hand over to Edmund.
Thanks, William. Good morning, everyone and thank you for joining our call. Beginning with the overview of 2025 on slide 4 and
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