Glanbia Plc · EURONEXT:GL9
Glanbia — Glanbia Plc Ord — FY2025 Earnings Presentation
23 slides from Glanbia's earnings presentation, Feb 25, 2026
Slide 1: Full Year 2025 Results
FULL YEAR 2025 RESULTS 25 February 2026 Hugh McGuire Mark Garvey Chief Executive Officer Chief Financial Officer
Slide 2: Important Notice
I M P O R T A N T N O T I C E 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 uncertainties, including both econ
Slide 3: Robust performance with LFL revenue and volume growth across all three segments
Robust performance with LFL revenue1 and volume growth across all three segments and adjusted EPS2 of 134.93 $cent (-3.4% versus prior year) 4.5% pro-forma LFL revenue growth3 in PN with double digit volume growth in H2 for Optimum Nutrition, showing strong sequential improvement Strong volume growt
Slide 4: Business Review
Business 01 Review Hugh McGuire Chief Executive Officer 4 | Glanbia PLC FY 2025 Presentation
Slide 5: Performance Nutrition (PN)
PERFORMANCE NUTRITION (PN) Strong H2 performance showing sequential improvement Constant Currency $m FY 2025 Change1 Revenue 1,801.1 (0.9%) EBITDA 233.8 (23.2%) EBITDA Margin 13.0% (380bps) Americas International • Pro-forma LFL2 revenue +4.5% • Volume +3.6% driven by strong category growth, new % o
Slide 6: World's #1 Sports Nutrition Brand with More Growth Potential
WORLD’S #1 SPORTS NUTRITION BRAND WITH MORE GROWTH POTENTIAL New Campaign – The Digital Engagement LFL revenue L52W US L13W US Optimum Advantage growth1 consumption2 consumption3 +6.4% +3.4% +4.6% Volume growth of +5.0% driven by category growth across key channels and markets, increased distributio
Slide 7: Driving Growth in Our Premium Everyday Nutrition Brand
DRIVING GROWTH IN OUR PREMIUM E V E RY D AY N U T R I T I O N B R A N D C R E AT I V E – M O R E O F W H AT M AT T E R S D I G I TA L E N G A G E M E N T D I S T R I B U T I O N & R E TA I L V I S I B I L I T Y I N N O VAT I O N Ready-to- Stick Packs Colostrum Beauty Drink (Collagen) 7 | Glanbia PLC
Slide 8: Health & Nutrition (H&N)
H E A LT H & N U T R I T I O N ( H & N ) Delivering strong volume growth momentum Constant Currency $m FY 2025 Change1 Revenue 628.5 +11.5% EBITDA 115.8 +16.7% EBITDA Margin 18.4% +80bps • H&N LFL2 revenue growth of +6.8% driven by strong volume growth • Volume +7.4% driven by demand across end-use
Slide 9: H&N - A Key Platform for Growth
H & N – A K E Y P L AT F O R M F O R G R O W T H Operating in attractive end-use markets with opportunity for organic and inorganic expansion Strong position in Driven by strong trends Supported by acquisitions key ingredients in end-use markets and capital investment Acquisitions of Sweetmix (Brazi
Slide 10: Dairy Nutrition (DN)
D A I RY N U T R I T I O N ( D N ) Strong performance through volume and pricing Constant Currency $m FY 2025 Change1 Revenue 1,516.8 +2.8% EBITDA 149.5 +1.7% EBITDA Margin 9.9% (10bps) • LFL2 revenue growth of +5.0% • Volume +4.2% driven by continued strong demand for protein solutions and bioactiv
Slide 11: Ongoing Strategy to Navigate Whey Volatility
O N G O I N G S T R AT E G Y T O N AV I G AT E W H E Y V O L AT I L I T Y PROCUREMENT MARGIN PRODUCT MIX MANAGEMENT New supply, incl. additional Alternative proteins WPI capacity via JVs Marketing spend effectiveness Non-whey Structured, responsive Pricing and other revenue innovation procurement ap
Slide 12: Ambitious Group-Wide Transformation Programme
AMBITIOUS GROUP-WIDE TRANSFORMATION PROGRAMME SIMPLIFIED DELIVER SUPPLY CHAIN ACCELERATE DIGITAL OPTIMISE OPERATING MODEL EFFICIENCIES TRANSFORMATION PORTFOLIO Simplified operating model Centralised supply chain New IT operating model being Acquisitions to focus on growth model & acceleration of wid
Slide 13: A Clear Strategy to Drive the Next Stage of Growth
A C L E A R S T R AT E G Y T O D R I V E T H E N E X T S TA G E O F G R O W T H Drive Scale Optimise Expand Innovate Optimum Nutrition and Health & Nutrition as a Dairy Nutrition to internationally and to meet growing grow globally with our leading solutions partner maximise profits leverage our glo
Slide 14: Finance Review
Finance 02 Review Mark Garvey Chief Financial Officer 14 | Glanbia PLC FY 2025 Presentation
Slide 15: FY2025 Financial Summary
F Y 2 0 2 5 F I N A N C I A L S U M M A RY $3.95bn Revenue Increase of +2.3% constant currency $499.1m EBITDA Decline of -9.4% constant currency -170bps constant currency 12.6% EBITDA margin PN -380bps and H&N +80bps 134.93$c Adjusted EPS Decline of -3.4% constant currency 91% OCF Conversion % Opera
Slide 16: Significant Cash Flow Generation & Strong Balance Sheet
S I G N I F I C A N T C A S H F L O W G E N E R AT I O N & S T R O N G BALANCE SHEET Cash Flow FY 2025 FY 2024 Cash Flow Operating cash flow (“OCF”) $454m $485m Strong operating performance delivering 91% OCF conversion OCF conversion % (Target 80%+) 91.0% 88.0% Free cash flow (“FCF”) $360m $403m Ba
Slide 17: Active Allocation Driving Growth and Capital Returns
A C T I V E A L L O C AT I O N D R I V I N G G R O W T H A N D C A P I TA L R E T U R N S 2025 Capital Allocation1 Dividend Strategic Capex $118m Progressive dividend Automation, capacity, increased by 10% on FY24 business integrations and Payout ratio of 35.9% IT investments $51m FY 2025: $437m Acq
Slide 18: Other Financial Matters
O T H E R F I N A N C I A L M AT T E R S EXCEPTIONAL Net charges of ~$100m largely related to Group-wide transformation ITEMS programme and the loss on disposals of non-core brands NET FINANCE COSTS Charges of $29.4m, up $2.6m on the prior year INCOME FY 2025 effective tax rate 15.0% TAX Expected ra
Slide 19: FY26 Outlook Aligned to Medium-Term Growth Algorithm
FY26 OUTLOOK ALIGNED TO MEDIUM -TERM GROWTH ALGORITHM Organic Earnings ahead of revenue growth revenue growth3 PN: Up to 250bps by 2028 PN: 5-7%1 H&N: 17-19% H&N: 4-6% Adj. EPS DN: $150m-$160m +7-11%2 OCF Conversion 85%+ Invest for growth Transformation and returns savings of $60m Dividend payout: 3
Slide 20: Delivering Better Nutrition
DELIVERING BETTER NUTRITION 1 High-growth categories with leading brands and ingredients driven by consumer megatrends 2 Sharpened and focused operating model and portfolio to capture the growth 3 Our people, portfolio, and firepower will continue to drive strong shareholder returns 20 | Glanbia PLC
Slide 21: A Performance Driven Purpose Led Global Nutrition Company
A PERFORMANCE DRIVEN PURPOSE L E D G L O B A L N U T R I T I O N C O M PA N Y 21 | Glanbia PLC FY 2025 Presentation
Slide 22: Appendices
A APPENDICES 22 | Glanbia PLC FY 2025 Presentation
Slide 23: PN FY2025 Pro-Forma LFL Revenue Overview
PN FY 2025 PRO -FORMA LFL REVENUE OVERVIEW 1 12% 4% 5% 37% 34% 8% 21% BY BY BY REGION CHANNEL F O R M AT 63% 83% 33% L F L G R O W T H 1: Americas +1.3% Online +10.3% Powders +5.4% International +10.5% FDMC +2.8% RTE -14.4% Distributor +2.4% RTD +22.4% Specialty -2.0% Other +12.6% 23 | Glanbia PLC F