Kerry Group plc (KYGA) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.798 Good morning and welcome to our Q1 2025 trading update call. 00:00:04.798 -- 00:00:09.825 I'm joined on the call by our CEO, Edmund Scanlon, and our CFO, Marguerite Larkin. 00:00:09.825 -- 00:00:14.011 As usual, Edmund and Marguerite will take you through our presentation, and we will then 00:00:14.011 -- 00:00:16.575 open the lines up for your questions. 00:00:16.575 -- 00:00:21.962 Before we begin, please note the usual disclaimer on our Q1 presentation regarding forward-looking 00:00:21.962 -- 00:00:26.145 statements. I will now hand over to Edmund. 00:00:26.269 -- 00:00:29.950 Thanks, William, and good morning, everyone, and thank you for joining our call. 00:00:29.950 -- 00:00:35.014 So moving to slide four and my overview comments for Q1. 00:00:35.176 -- 00:00:39.622 We delivered a good overall performance in the first quarter, particularly given market 00:00:39.622 -- 00:00:41.344 conditions. 00:00:41.344 -- 00:00:45.829 Beginning with revenue, we delivered Q1 volume growth of 3.1%, 00:00:45.829 -- 00:00:50.495 which represented another strong end market outperformance. 00:00:50.495 -- 00:00:55.461 And this was driven by good volume growth in the Americas and AFMEA, with Europe similar 00:00:55.461 -- 00:00:57.828 to the prior year. 00:00:57.828 -- 00:01:02.636 From a channel perspective, food service delivered another good performance, driven by 00:01:02.636 -- 00:01:07.765 new menu innovations, LTOs, and solutions to reduce operational 00:01:07.765 -- 00:01:09.709 cost and complexity, 00:01:09.709 -- 00:01:14.677 with growth in the retail channel supported by increased nutritional enhancement activity 00:01:14.677 -- 00:01:16.958 with our customers. 00:01:17.763 -- 00:01:23.360 And across our end-use markets, growth was le...