Glanbia has reported total group earnings (EBITA) of €310.7m for its 2015 financial year, a 9% year-on-year increase in constant currency terms. In reported terms, earnings were nearly 27% ahead of the previous year.
Group sales for the year reached €3.67bn, a 4.1% increase on a reported basis. However, in constant currency terms Glanbia’s sales for 2015 actually declined 7.4%, reflecting the strength of the US dollar versus the euro last year.
The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets.
Glanbia continued to widen its margins, with group earnings (EBITA) margins improving by 130 bps to 8.5%, while adjusted earnings per share for the year grew by 10.6% to 79.14c.
Glanbia is recommending a final shareholder dividend of 7.22c, while the total dividend for the year will increase by 10% to 12.1c per share.
Commenting on the results, Glanbia chief executive Siobhan Talbot said she was pleased that Glanbia could deliver its sixth consecutive year of double-digit growth.
“The results demonstrate the resilience and diversification of the Glanbia model during a difficult year for dairy markets. Glanbia Performance Nutrition was the main driver of earnings growth supported by Dairy Ireland which saw a recovery in performance in 2015. The outlook for 2016 is positive and we are guiding 8% to 10% growth in adjusted earnings per share, constant currency,” added Talbot.