Kerry Group announced revenue of 7.4 billion euros (£6.21 billion) in its preliminary results on Wednesday, up 8.3% year on year, which the company says reflects volume growth of 8.0%.
The London-listed company said taste and nutrition volumes were 8.3% higher for the 12 months ended December 31 and were ahead 7.2% in the fourth quarter, while volumes of food consumption increased 6% for the year and 7.1% over the past three. month.
Prices were 1.2% higher for 2021, the company reported.
Group EBITDA amounted to €1.1 billion, compared to €1 billion, representing an EBITDA margin of 14.7%, an improvement compared to 14.4% a year on the other.
Kerry Group said its trading margin increased 40 basis points to 11.9%.
Its adjusted earnings per share amounted to 380.8 euro cents, up 12.1% at constant exchange rates, while basic earnings per share were 430.6 cents, compared to 313 cents previously.
Free cash flow amounted to €566m, reflecting a cash conversion of 84%.
The board declared a final dividend of 66.7 cents per share, bringing the total dividend for 2021 up 10.1% year-on-year to 95.2 cents.
It also released guidance for 2022 adjusted earnings per share of 5% to 9% growth, at constant currency.
“We ended the year on a strong note with excellent growth across our businesses,” said Chief Executive Edmond Scanlon.
“The year was important for Kerry from a strategic point of view.
“We have continued to strengthen our position as a market-leading taste and nutrition company with a number of strategic portfolio developments, while strengthening our local footprint to support our growth ambitions, which we have outlined as part of our strategy update on Capital Markets Day. in October.”
Scanlon said while acknowledging that the current market environment and inflationary pressures presented challenges across the industry, Kerry was “stronger and more resilient than ever” as it entered a new strategic cycle. .
“Our earnings guidance range for 2022 reflects the group’s strong growth outlook and the net effect of recent portfolio developments.”
At 1:11 p.m. GMT, Kerry Group shares were up 2% in London at €109.80.