Kerry Group: announces FY-2022 preliminary results

Tralee / IE. (kg) Irland’s Kerry Group PLC announced its preliminary FY-2022 results for the year ended 31 December – for the company a year of record growth in a dynamic operating environment. Overview:

  • Group revenue of EUR 8.8 billion reflecting 18.0 percent organic growth
  • Group volume growth of 6.1 percent and pricing of +11.7 percent
    Taste + Nutrition volume +7.8 percent and pricing +8.7 percent
    Dairy Ireland volume +0.2 percent and pricing +36.0 percent
  • Ebitda increased by 12.9 percent to EUR 1.2 billion
  • Ebitda margin of 13.9 percent (2021: 14.7 percent)
  • Adjusted EPS of 440.6 cent; +7.3 percent in constant currency (15.7 percent reported currency growth)
  • Basic EPS of 341.9 cent (2021: 430.6 cent)
  • Free cash flow of EUR 640m reflecting 82 percent cash conversion
  • Final dividend per share of 73.4 cent (total 2022 dividend up 10.1 percent to 104.8 cent)
  • Strong progress on sustainability commitments including increasing our nutritional reach to 1.2 billion consumers

Chief Executive Officer Edmond Scanlon: «As we marked Kerry’s 50th year in 2022, we achieved record organic revenue growth against the backdrop of an exceptionally dynamic operating environment. I am proud of the broad-based volume growth we delivered across our end use markets, channels, regions and emerging markets despite the macroeconomic conditions. Our teams worked closely with our customers to actively manage through the inflationary environment, while continuing to innovate and develop their offerings to meet evolving marketplace needs.

«We made good strategic progress in the year through development of our innovation platforms, footprint expansion and continued portfolio development. We completed a number of acquisitions aligned to our strategic priorities of Taste, Nutrition and Emerging Markets, and since year-end we announced the potential sale of our Sweet Ingredients Portfolio, as we continue to enhance and refine our business to areas where we can add most value.

«While recognising the current market uncertainty, we believe we are strongly positioned to continue to grow our business through this period. In 2023, we expect to achieve 3 percent to 7 percent adjusted earnings per share growth on a constant currency basis, before the dilution from the potential sale of the Sweet Ingredients Portfolio.»

For additional information please read the company’s PDF file below (202 KB):