Kerry Group Stock Earnings Reports

Kerry Group delivered a strong FY2025: group revenue of EUR 6.8bn, EBITDA of EUR 1.2bn, volume growth of 3% (outperforming end markets), EBITDA margin expansion of 80 bps (to just under 18%) and constant-currency EPS growth of 7.5%. Key drivers were foodservice innovation, reformulation (salt/sugar reduction, enzymes, fermentation, proactive health), expansion in emerging markets (SE Asia, LatAm) and targeted capacity/technology investments (new biotech centre in Leipzig, manufacturing in Egypt/Rwanda, enzyme capacity expansion). Accelerate Operational Excellence completed and Accelerate 2.0 started — expected to deliver recurring annual savings of ~EUR 100m by 2028 (total net cost ~EUR 140m). Free cash flow was EUR 643m (81% cash conversion); net debt EUR 2.2bn with net-debt/EBITDA ~1.9x and a healthy maturity profile. Management guidance: constant-currency adjusted EPS growth of 6–10% for 2026, continued margin expansion (targeting 19–20% by 2028), limited input-cost deflation/pricing pressure in 2026 and a circa 4% FX headwind to EPS based on current rates. Capital allocation: EUR 500m share buybacks in 2025, dividends EUR 215m, and a new EUR 300m buyback announced. Regional notes: Americas strong (volumes and margins), Europe soft finish but expected to return to growth (likely H2-weighted), APMEA growing (China improving but still challenged). Risks/considerations: translation (currency) headwinds, working capital timing (year-end WCD ~41 days expected to normalize to ~35–40 days), and limited further disposals (<~EUR 60m revenue impact) as part of footprint optimization.