Kerry Group Plc · EURONEXT:KRZ
Kerry — Q3 2023 Earnings Presentation
15 slides from Kerry's earnings presentation, Oct 26, 2023
Slide 1: Kerry Q3 Results 2023
KERRY 26 * 2023 . a
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer: Forward Looking Statements This presentation/announcement may contain forward looking statements with projections regarding, among other things, the Group’s strategy, revenues, earnings, EBITDA, EBITDA margin, finance costs, tax rate, capital expenditure, dividends, cash flow, net debt o
Slide 3: Q3 Results 2023
Q3 Results 2023 Edmond Scanlon Marguerite Larkin Chief Executive Officer Chief Financial Officer © Kerry 2023 | 3 |
Slide 4: Overview – Q3 YTD 2023
Overview – Q3 YTD 2023 Continued Volume Growth Margin Inflection +130bps 1.6% 1.6% 1.2% +40bps -80bps Q1 Q2 Q3 Q1 Q2 Q3 2023 2023 2023 2023 2023 2023 T&N Group T&N Group © Kerry 2023 | 4 |
Slide 5: Q3 YTD 2023 Financial Overview
Q3 YTD 2023 Financial Overview Group EBITDA Group Volumes Net Debt Margin +0.4% +10bps €1.8bn (Taste & Nutrition +1.5%) (Q3 +100bps) © Kerry 2023 | 5 |
Slide 6: Group Revenue Analysis
Group Revenue Analysis Q3 YTD Q3 YTD 2022 2023 (4.2%) Translation Acquisitions/ Currency Disposals Volume Price (1.9%) (4.0%) +0.4% +1.3% © Kerry 2023 | 6 |
Slide 7: Business Review: Taste & Nutrition
Business Review: Taste & Nutrition Growth driven by continued strong foodservice performance → Volumes +1.5% with Q3 growth of 1.6% vs strong comparatives → Pricing +3.0% with third quarter pricing of -1.4% reflecting deflationary environment → EBITDA Margin +20bps (Q3: +130bps) → EUMs: Growth led b
Slide 8: Taste & Nutrition Performance by Region
Taste & Nutrition Performance by Region Americas Europe APMEA -1.7% +3.7% +7.5% (Q3: -0.9%) (Q3: +2.0%) (Q3: +8.2%) → Overall volumes reflected customer → Good overall growth led by Meat, → Performance led by Meat, Meals inventory management and strong Snacks and Meals and Dairy prior year comparati
Slide 9: Business Review: Dairy Ireland
Business Review: Dairy Ireland Performance Impacted by Significant Reduction in Dairy Prices → Volumes -6.2% with overall growth in Dairy Consumer Products more than offset by lower volumes in Dairy Ingredients → Pricing -6.5% with reduced pricing reflective of dairy markets → EBITDA Margin -110bps
Slide 10: Other Matters
Other Matters Share Buyback Input Costs Currency Programme Current FY 2023 EPS Commencing €300m Turned deflationary in H2 translation outlook of c. -3% share buyback programme in Q4 2023 © Kerry 2023 | 10 |
Slide 11: Outlook and Future Prospects
Outlook and Future Prospects → While overall market conditions remain uncertain, Kerry remains strongly positioned for growth with a good innovation pipeline → The Group will continue to manage the current input cost environment in collaboration with our customers → Kerry will continue to develop th
Slide 12: Kerry
KERRY
Slide 13: Volume Growth Rates
Volume Growth Rates Q1 Q2 Q3 Q3 YTD Americas (1.6%) (2.7%) (0.9%) (1.7%) Europe 3.9% 5.3% 2.0% 3.7% APMEA 5.2% 8.8% 8.2% 7.5% Taste & Nutrition 1.2% 1.6% 1.6% 1.5% Dairy Ireland (5.8%) (0.5%) (12.1%) (6.2%) Group 0.2% 1.0% 0.1% 0.4% © Kerry 2023 | 13 |
Slide 14: Financial Metric Definitions
Financial Metric Definitions Volume Growth Free Cash Flow This represents the sales performance excluding pass-through Free cash flow is EBITDA plus movement in average working pricing on input costs, currency impacts, acquisitions (net of capital, capital expenditure net (purchase of assets, paymen
Slide 15: Kerry
KERRY 26 * 2023 . a