Glanbia Plc · EURONEXT:GL9
Glanbia — Q1 2023 Earnings Presentation
14 slides from Glanbia's earnings presentation, May 4, 2023
Slide 1: Glanbia plc Q1 2023 Interim Management Statement Presentation
Glanbia plc Q1 2023 Interim Management Statement Presentation 4 May 2023 Siobhán Talbot Mark Garvey Group Managing Director Group Finance Director
Slide 2: Important notice
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 uncertainties, including both economic and busi
Slide 3: Q1 2023 Highlights
Q1 2023 Highlights Q1 Group performance broadly in line with expectations Upgrading full year guidance to 7% to 11% growth in adjusted EPS* reflecting improved outlook for GPN margins in the second half of 2023 Consumption trends continue to be good across the performance nutrition and healthy lifes
Slide 4: Q1 2023 Revenue overview
Q1 2023 Revenue overview Q1 revenue broadly in line with expectations GPN growth in line with FY 2023 guidance; GN NS impacted by customer supply chain rebalancing in the quarter Q1 2023 Revenue Growth (Constant Currency) Acquisitions / Volume Price LFL* Total Disposals BRANDED -9.2% +14.2% +5.0% -
Slide 5: GPN – Q1 2023 performance
GPN – Q1 2023 performance Q1 2023 GPN Revenue Mix % LFL* Branded Revenue Growth +5.0% Volume -9.2% 17% Price +14.2% 60% • LFL revenue +2.2% in Americas and +10.3% in International • Continued consumption momentum in performance nutrition 12% with Q1 positive volumes Other • Volume decline largely dr
Slide 6: Optimum Nutrition performance
GN NS – FY Optimum Nutrition (“ON”) 2022 performance Strong revenue & consumption momentum continuing Q1 % of GPN Q1 LFL growth US Consumption* Revenue 60% +20.8% +36.1% Brand Activation • “More of You in You” campaign activated in all markets with strong early results following expanded media inves
Slide 7: GN NS – Lifestyle performance
GN NS –Lifestyle Healthy FY 2022 &performance Weight Management Consumption trends as expected Healthy Lifestyle Weight Management Q1 % of GPN Q1 % of GPN Q1 LFL growth US Consumption* Q1 LFL growth US Consumption* Revenue Revenue 17% -1.0% +15.4% 12% -28.3% -27.0% Brand Activation Brand Activation
Slide 8: GN NS – Q1 2023 performance
GN NS – Q1 FY 2022 2023 performance Revenue Growth* -14.8% Volume -17.4% Price +1.0% Acquisitions / Disposals +1.6% • Volume decline driven by customer supply chain rebalancing in Q1 2023, expected to normalise in the second half of 2023 • Positive pricing in premix business offset by lower dairy ma
Slide 9: GN NS – serving a broad range of markets
GN NS – serving FY 2022aperformance broad range of markets Sub categories Mid-term growth rate expectations Sports Dietary Functional Nutrition Supplements Beverages unchanged End use markets remain dynamic Mainstream Healthy Food & driven by good consumer demand Snacking Beverage NS customer supply
Slide 10: Glanbia: At the Heart of Better Nutrition
Glanbia: At the Heart of Better Nutrition Better Nutrition category trends remain positive Momentum expected to improve through the year Strong FY 2023 Group earnings and margin progression expected, driven by GPN Upgrading full year guidance to 7% to 11% growth in adjusted EPS, constant currency Ou
Slide 11: Q1 2023 Finance review
Q1 2023 Finance review Mark Garvey Group Finance Director 11
Slide 12: Q1 2023 Strong Balance Sheet
Q1 2023 Strong Balance Sheet Completed the sale of Net debt $604.8m FY 2023 expected to be €31.7m returned in share Glanbia Cheese JVs on $75m - $85m buybacks in 2023 YTD 28 April 2023 for proceeds of €178.9m Total committed facilities €50m share buyback (including repayment of of $1.3 billion progr
Slide 13: 2023 Guidance
2023 Guidance Lead & grow Optimise our Disciplined our core business financial management Organic revenue growth Margin & earnings growth Capital allocation GPN LFL revenue growth: GPN EBITA margin: OCF conversion %: +5-7% 12.5-13.5% 80%+ GN NS volume: GN NS EBITA margin: ROCE: marginal decline vs.
Slide 14: Questions?
Questions?