Glanbia Plc · EURONEXT:GL9
Glanbia — Investor Day (November 2025)
15 slides from Glanbia's investor day presentation, Nov 19, 2025
Slide 1: Capital Markets Day - Chief Financial Officer
Glanbia plc C A P I TA L M A R K E T S D AY Mark Garvey Chief Financial Officer 19 November 2025
Slide 2: Important Notice
I M P O R T A N T N O T I C E The Glanbia Capital Markets Day (“CMD”) presentations contain 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 the CMD presentations. Due to the inh
Slide 3: Strong performance from 2023-2025
STRONG PERFORMANCE FROM 2023-20251 AVERAGE ADJUSTED AVERAGE OCF AVERAGE EPS GROWTH 2 CONVERSION ROCE 5% - 10% 80%+ 10% - 13% Average expected to be Average expected to be Average expected to be 7%+ 85%+ ~12% D E M O N S T R AT I N G R E S I L I E N C E T H R O U G H V O L AT I L I T Y MACROECONOMIC
Slide 4: Resilient divisional performance 2023-2025
RESILIENT DIVISIONAL PERFORMANCE 2023 -20251 PN AVERAGE ANNUAL PN EBITA NS PROFORMA NS PROFORMA REVENUE GROWTH MARGIN 3 AVERAGE ANNUAL EBITA MARGIN 3 5% - 7% 12%+ VOLUME GROWTH 12%+ 3% - 5% Average expected to be Average expected to be Average expected to be Average expected to be ~2% ~14% ~3%4 ~15%
Slide 5: 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 RETURNS 1,2 2023-2025 Capital Allocation Strategic Capex $170m Dividends $320m $1.3bn $430m OCF Acquisitions3 Share Buybacks $450m AV E R A G E Y E A R E N D N E T D E B T / E B I T D A < 1 X A N D R O C E O F ~ 1 2 % 1. Sum
Slide 6: Our core financial principles
OUR CORE FINANCIAL PRINCIPLES Key focus for financial discipline 2026-2028 Deliver strong revenue and EBITDA growth across our Better Nutrition portfolio Group-wide Transformation programme to unlock efficiencies to fund growth and EBITDA Strong cash conversion to fuel investment and returns Discipl
Slide 7: Ambitious Group-wide transformation programme to deliver annual savings of $60m+ by 2027
A M B I T I O U S G R O U P - W I D E T R A N S F O R M AT I O N P R O G R A M M E T O D E L I V E R A N N U A L S AV I N G S O F $ 6 0 M + B Y 2 0 2 7 Simplified operating model • Savings increased to $60m+ per annum by 2027 • Programme will drive growth and margin Primary progression: drivers of D
Slide 8: PN - Continued momentum in revenue growth with margin progression over the medium-term
PN – CONTINUED MOMENTUM IN REVENUE GROWTH WITH MARGIN PROGRESSION OVER THE MEDIUM-TERM O R G A N I C G R O W T H P. A . 1 EBITDA growing ahead of revenue2 +5% - 7% Key drivers of revenue growth Progression of up to 250bps from FY25 base Increased Group-wide Commercial Input cost Category growth pene
Slide 9: H&N - Driving organic and inorganic revenue growth and continued margin discipline
H&N – DRIVING ORGANIC AND INORGANIC REVENUE GROWTH AND CONTINUED MARGIN DISCIPLINE O R G A N I C G R O W T H P. A . EBITDA growing ahead of revenue1 +4% - 6% Key drivers of revenue growth Margins in the range of 17% - 19% End-use market Commercial Operating Group-wide transformation Added Capability
Slide 10: DN - Driving value in Dairy Nutrition through operational excellence
D N – D R I V I N G VA L U E I N D A I R Y N U T R I T I O N T H R O U G H O P E R AT I O N A L E X C E L L E N C E EBITDA …with a beneficial operating model $150m – $160m US JV OPERAT ING MODEL Operational and commercial partner with Dairy Nutrition One of the key suppliers of whey to Performance N
Slide 11: OCF conversion upgraded to 85%+
TA R G E T I N G $ 1 . 5 B N I N O C F D U R I N G 2026-2028 Consistently high operating cash flow Operational efficiencies through automation OCF conversion Optimisation of working capital with a target to upgraded to reduce inventory by ~5% 85%+ D E M O N S T R AT I N G S T R O N G F I N A N C I A
Slide 12: Strong track record of returns to shareholders
STRONG TRACK RECORD OF RETURNS TO SHAREHOLDERS W E H AV E R E T U R N E D €1 . 2 B N T O S H A R E H O L D E R S S I N C E 2 0 2 0 1 Share Dividends buybacks, €M payable, €M Progressive dividend policy 10% annual increase since 2020 197 174 Targeted buyback strategy 100 102 c.52m shares repurchased
Slide 13: Balanced capital allocation supporting investment and returns
B A L A N C E D C A P I TA L A L L O C AT I O N S U P P O R T I N G I N V E S T M E N T AND RETURNS Strategic Capex Dividends Investment in strategic Maintain progressive projects and capabilities dividend policy targeting a across the Group payout ratio of 30 – 40% $1.5bn Acquisitions OCF Share Buy
Slide 14: Group growth ambition 2026-2028
GROUP GROWTH AMBITION 2026 – 2028 Adjusted EPS Growth 7% - 11% OCF $1.5bn OCF conversion 85%+ ROCE 10% - 13% Dividend payout ratio 30% - 40% 14 || Glanbia GlanbiaPLC PLC2025 2025CMD CMD
Slide 15: Glanbia investment case
GLANBIA INVESTMENT CASE Key strengths and unique competitive advantage Complimentary brands Powerful consumer trends and ingredients with and growing categories leading market positions Evolved to a simplified Talented team of brand & operating model focused business builders with on growth strong c