Glanbia Plc · EURONEXT:GL9
Glanbia — Q1 2021 Earnings Presentation
18 slides from Glanbia's earnings presentation, May 6, 2021
Slide 1: Glanbia plc Q1 2021
Glanbia plc Q1 2021 06 May 2021 Group Managing Director Group Finance Director
Slide 2: Important notice
2 Glanbia plc | Quarter 1 2021 presentation Important notice This presentation contains forward-looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this presentation. Due to the inherent unc
Slide 3: Q1 2021 Results summary
3 Glanbia plc | Quarter 1 2021 presentation Q1 2021 Results summary Glanbia delivers strong Q1; wholly-owned revenue +10.5% cc Good performance across GPN & GN GPN LFL Branded revenue +17.6% cc GN Nutritional Solutions volume +10.3% cc FY 21 Adjusted EPS growth, constant currency, expected to be in
Slide 4: 2021 Outlook
4 Glanbia plc | Quarter 1 2021 presentation 2021 Outlook Deliver double-digit GPN EBITA Vigilant to risks and navigating Deliver good LFL revenue growth margins ongoing headwinds Progressing to plan across demand and efficiency workstreams 2021 Adjusted EPS, constant currency, growth expected to be
Slide 5: Glanbia Performance Nutrition
Glanbia Performance Nutrition Q1 2021 review
Slide 6: GPN Transformation delivering benefits
6 Glanbia plc | Quarter 1 2021 presentation GPN Transformation delivering benefits Efficiency • Exit of contract business in North America Demand Efficiency • Consolidation of supply chain activity Growth • Driving consumption through marketing investment • Route-to-market optimisation projects larg
Slide 7: GPN Q1 2021 update
7 Glanbia plc | Quarter 1 2021 presentation GPN Q1 2021 update Q1 2021 Revenue progression 20% +14.1% +17.6% 16% 12% 4.6% 8% Americas • Strong performance driven by Optimum Nutrition 9.5% • Lifestyle brands flat with trends improving 4% • Q1 revenue driven by good consumption growth and market inven
Slide 8: Leading brands positioned for growth
8 Glanbia plc | Quarter 1 2021 presentation Leading brands positioned for growth Brand health Brand health • 12 week consumption to 18 April 2021 in NA • 12 week consumption to 18 April 2021 in NA measured channels* +23.6% measured channels* -0.5% Category Update Category Update • Strong start in Am
Slide 9: Glanbia Nutritionals Q1 2021 review
Glanbia Nutritionals Q1 2021 review
Slide 10: Glanbia Nutritionals Q1 2021 update
10 Glanbia plc | Quarter 1 2021 presentation Glanbia Nutritionals Q1 2021 update Q1 2021 Revenue progression 20% 16% Volume • Q1 LFL volume increased by 12.4% driven by 12% strong demand in NS and new capacity in (4.5%) Cheese 1.1% 8% Price 12.4% • Q1 LFL price decreased by 4.5% driven by 4% lower c
Slide 11: Nutritional Solutions Q1 2021 update
11 Glanbia plc | Quarter 1 2021 presentation Nutritional Solutions Q1 2021 update +11.2% Q1 2021 Revenue progression 20% Non-dairy Ingredients 15% • Strong volume performance in vitamin & mineral premix 3.7% • Consumer trends in health and wellbeing driving demand 10% 0.9% • Foodarom acquisition per
Slide 12: US Cheese Q1 2021 update
12 Glanbia plc | Quarter 1 2021 presentation US Cheese Q1 2021 update Q1 2021 Revenue progression 20% Volumes • Q1 volumes driven by new Joint Venture capacity 16% Price 12% • Price decline driven by lower cheese markets (6.9%) 8% New Michigan plant 13.4% • Commissioning expected to be completed as
Slide 13: Finance Q1 2021 review
Finance Q1 2021 review
Slide 14: Strong Cash Flow and Balance Sheet
14 Glanbia plc | Quarter 1 2021 presentation Strong Cash Flow and Balance Sheet Q1 2021 Q1 2020 Cash Net Debt €499m €690m generative Net debt: Adjusted 1.5X 1.9X EBITDA • Rolling 12 months operating cash flow generation ahead of 80% conversion target Facilitating Balance investment Sheet • Strong Ba
Slide 15: Capital Allocation
15 Glanbia plc | Quarter 1 2021 presentation Capital Allocation €50m Share Buyback Programme completed Share Buyback Programme summary • €50m Share Buyback Programme completed in April 2021 Total spend €50m Total shares repurchased 4.8m • Capital expenditure for FY 21 expected to be in the €80 to €9
Slide 16: Conclusion
Conclusion
Slide 17: Conclusions
17 Glanbia plc | Quarter 1 2021 presentation Conclusions Good performance in Q1 2021 with trends continuing in Q2 Strategic initiatives on track Strong balance sheet to fund growth Positive outlook; in FY 21 Adjusted EPS growth, constant currency*, expected to be in the upper end of the 6% to 12% ra
Slide 18: Questions
Questions