Kerry Group Plc · EURONEXT:KRZ
Kerry — Investor Day (2026)
26 slides from Kerry's investor day presentation, 2026
Slide 1: The Future of Sustainable Nutrition: 2030 Targets
KERRY The Future of Sustainable Nutrition 2030 g TARGETS —S owes
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer: Forward Looking Statements This presentation may contain forward looking statements with projections regarding, among other things, Kerry’s strategy, revenues, earnings, EBITDA, EBITDA margin, finance costs, tax rate, capital expenditure, dividends, share buybacks, cash flow, net debt or
Slide 3: Chief Executive Officer, Kerry Group
KERRY Chief Executive Officer — Kerry Group
Slide 4: Overview
Overview 1. Track Record of Growth & Business Development 2. Today’s Market Landscape & Opportunity 3. Kerry’s Differentiated Capability 4. Key Growth Drivers 5. Balanced Financial Model & Growth Algorithm
Slide 5: Recent Business Performance and Strategic Development
Recent Business Performance and Strategic Development STRONG FINANCIAL PERFORMANCE STRATEGIC BUSINESS DEVELOPMENT GROWTH Completed Portfolio Transformation Volume Growth¹ +3.8% (300bps > market) EBITDA Margin² +320bps (FY2025: ~18%) Built out Biotechnology Capability Expanded our Global Footprint CC
Slide 6: Today's Changing Market Landscape Provides Significant Opportunity
Today’s Changing Market Landscape Potential Provides Significant Opportunity €100bn Market Landscape Shifts Driving Opportunity: • Health & Wellness Focus • Consumer Affordability • GLP-1 ~€87bn RENOVATION Today’s Total Addressable • Today’s Digital Consumer Market • Taste Optimisation • AI • Nutrit
Slide 7: Kerry's Differentiated Capability: Creating Value For Customers
Kerry’s Differentiated Capability Creating Value For Customers CREATING VALUE MULTIPLYING VALUE DELIVERING VALUE Integrated Technologies Unique End-to-End Food & Beverage Industry’s Broadest Empowered by deep process technology expertise Innovation Capability Channel & Market Access Deployed Locally
Slide 8: Solving our Customers' Most Complex Challenges
Solving our Customers’ Most Complex Challenges Natural Elevated Taste Nutrition Functional Immune Women’s Ingredient Therapeutics Authentic and Early Life & Vaccines Taste Health Modulation Nutrition Enzymes Raw Material Enabled Resilience Solutions Clean Cost Productivity Label Mitigation and Yield
Slide 9: Medium-Term Financial Targets (2027-2030)
Medium-Term Financial Targets (2027-2030) GROWTH Volume Growth1 3-5% EBITDA Margin2 20-21% CCY Adjusted EPS Growth HSD+ RETURN Cash Conversion 85%+ ROACE3 12-13% ¹ Based on assumption of flat end market growth | ² By 2030 and assumes neutral currency and input costs | ³ By 2030 | CCY = Constant Curr
Slide 10: Target Volume Growth: Breakdown & Key Drivers
Target Volume Growth Breakdown & Key Drivers Target Range 3-5% (2027-30) Our History Geographical Growth Profile Key Growth Drivers (2022-25) Indicative Ranges 2022-25 2027-30 Foodservice MSD+ Americas €3.7bn 3.6% ~3-5% 3.8% Emerging Markets HSD Europe €1.4bn 2.1% ~1-2% Renovation ~40% PIPELINE APME
Slide 11: 1. Foodservice: A Structural Tailwind for Kerry
1. Foodservice A Structural Tailwind for Kerry LEADING TRACK RECORD OUR COMPETITIVE ADVANTAGE SIGNIFICANT MARKET CHANGES DRIVING OPPORTUNITY 70% Deeply embedded INNOVATION Revenue PARTNERSHIPS across every foodservice segment High Growth Menu Areas Growth • Refreshing Beverage • Premium Coffee • Chi
Slide 12: 2. Emerging Markets
2. Emerging Markets FUTURE GROWTH DRIVERS Consumer Dynamics STRONG TRACK RECORD OUR PRESENCE TODAY Health Regulatory & Wellness Developments Foodservice/ Snacking Convenience 7% Volume CAGR Beverage Occasions / Platforms €2.2bn Kerry Differentiators €1.3bn Extensive In- Scale Market Footprint Custom
Slide 13: 3. Product Renovation
3. Product Renovation A structural shift providing a growth platform for Kerry Consumer expectations, supply chain complexity and regulatory scrutiny are forcing brands to make existing products work harder - creating repeatable, scalable, renovation demand DRIVERS OF RENOVATION RENOVATION AREAS OPP
Slide 14: Customer Product Renovation Today
Customer Product Renovation Today Next Level High Protein Step Change Salt Reduction Masking Taste Enhancement ~40% of Kerry’s Pipeline is Product Renovation
Slide 15: Digital and AI
Digital and AI Enabling strategic execution within Kerry Digital is embedded in Kerry — better, faster and more efficient Unlocking new business models and doing things differently Commercial RD&A Supply Chain Manufacturing Operations Business Functions Personalised Agile Product Responsible Sourcin
Slide 16: Chief Financial Officer, Kerry Group
KERRY 7 j Chief Financial Officer ( Kerry Group
Slide 17: Kerry's Balanced Framework and 2030 Targets
Kerry’s Balanced Framework and Targets 2030 Targets GROWTH RETURN SUSTAINABILITY3 Volume Growth1 Carbon Reduction4 3-5% Cash Conversion % 55% 85%+ EBITDA Margin2 Food Waste Reduction4 20-21% 50% ROACE3 Constant Currency 12-13% Adjusted EPS Growth Nutritional Reach HSD+ 2bn people ¹ Based on assumpti
Slide 18: Target Volume Growth: Breakdown & Key Drivers
Target Volume Growth Breakdown & Key Drivers Historic Revenue Volume Growth Target Range Assumptions Key Growth Drivers Growth Perspective (Target Range 3-5% growth) (10 Year History) +3.7% • Continued end market outperformance of Foodservice MSD+ 300bps+ Emerging Markets HSD • Assumes flat end mark
Slide 19: Continued Strong EBITDA Margin Progression
Continued Strong EBITDA Margin Progression Strong Track Record of EBITDA Margin Expansion Clear Roadmap and Plans to Meet Targets 20-21% Key drivers: 19-20% • Operating leverage 17.9% • Portfolio mix • Efficiencies Continued investments 14.7% 320bps Key margin expansion drivers: • Portfolio developm
Slide 20: Key Drivers of Margin Development
Key Drivers of Margin Development Accelerate 2.0 FOOTPRINT OPTIMISATION DIGITAL EXCELLENCE OPERATING LEVERAGE / PORTFOLIO MIX Enterprise-wide initiative: Organisational digital enablement: → Volume Led Revenue Growth → Multi-layered Technology Solutions → Manufacturing Footprint → Operations and Sup
Slide 21: Cash and Returns
Cash and Returns Continued Strong Free Cash Further Progression on Flow Conversion Return on Average Capital Employed 85%+ New Cash Conversion Target 12-13% By 2030 €2.8bn Free Cash Flow €3.5bn 88% Cash Conversion Free Cash Flow 10.6% 10.6% (2022-2025) (2027-2030) 10.3% 10.0% €766m €701m €640m €643m
Slide 22: Capital Allocation Priority Framework
Capital Allocation Priority Framework REINVESTMENT CAPITAL RETURNS 1 Capital Investment 4-5% of revenue 2 Dividends Double-digit growth 3 M&A Disciplined strategic approach 4 Share Buybacks Evaluate ongoing based on market conditions and strategic alternatives Supported by a strong financial positio
Slide 23: Medium-Term Financial Targets (2027-2030)
Medium-Term Financial Targets (2027-2030) GROWTH Volume Growth1 3-5% EBITDA Margin2 20-21% CCY Adjusted EPS Growth HSD+ RETURN Cash Conversion 85%+ ROACE3 12-13% ¹ Based on assumption of flat end market growth | ² By 2030 and assumes neutral currency and input costs | ³ By 2030 | CCY = Constant Curr
Slide 24: Key Takeaways
Key Takeaways 1. Track Record of Growth & Business Development 2. Today’s Market Landscape & Opportunity 3. Kerry’s Differentiated Capability 4. Key Growth Drivers 5. Balanced Financial Model & Growth Algorithm
Slide 25: Appendix
The Future of Sustainable Nutrition APPENDIX
Slide 26: Financial Metric Definitions
Financial Metric Definitions Volume Growth Free Cash Flow This represents the sales performance period-on-period, excluding Free cash flow is EBITDA plus the movement in working capital, capital pass-through pricing on input costs, currency impacts, acquisitions, expenditure net (purchase of assets,