Kerry Group plc (KYGA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, operator. Good morning and welcome to our 2025 half-year results call. I'm joined in the call by our CEO, Edmund Scanlon, and our CFO, Marguerite Larkin. Edmund and Marguerite will take you through our presentation, and following this, we will then open up the lines for your questions. Before we begin, please take note of the disclaimer on our H1 presentation regarding forward-looking statements. I'll now pass over to Edmund. Thanks, William, and good morning, everyone, and thanks for joining our call. So beginning with slide four and the summary overview of H1, where we delivered a good overall performance, particularly given market conditions, with continued volume growth and strong margin expansion, driving strong constant currency earnings growth. So firstly on revenue, we delivered 3% volume growth, which was well ahead of end market and channel growth. This was led by a strong performance in the food service channel, with continued innovation activity on new menu items, seasonal launches, as well as cost reduction solutions. Growth in the retail channel was supported by increased retailer brand innovation and nutritional renovation across a range of customers. On EBITDA margins, we delivered very strong margin expansion of 100 basis points in the first half, with a key driver being its accelerated operational excellence, along with operating leverage and also product and portfolio and mixed benefits. And on earnings per share, the combination of volume growth and margin expansion enabled us to deliver strong constant currency growth of 9.8% in the first half. I'll touch on the outlook in a little more detail later, but to summarize, There's no change to our full year constant currency EPS guidance range. We're slightly moderating our volume growth ou...