The group’s earnings after taxes increased from $248 million (€229.2 million) to $298.1 million (€275.4 million) in the previous year.
The worldwide nutrition group’s revenue dropped 8.7% to $5.4 billion in the previous year, which Glanbia attributed to modifications in dairy prices.
The company with its headquarters in Kilkenny also recorded 5.1 percent revenue growth in its performance nutrition sector in 2023, with 5.4 percent pricing increases. Over the year, volumes decreased by 0.3 percent.
With volume and price increases, the Optimum Nutrition brand saw revenue growth of 17% over the previous year.
The nutritional solutions sector of Glanbia saw a 12.3% decline in revenue from 2022 to 2023 due to a 9% decrease in price.
The nutritional solutions division saw a 3.3 percent decline in volumes, but they rebounded in the second half of the year.
Chief Executive Officer Hugh McGuire stated, “The Group delivered an excellent performance in 2023 with adjusted EPS (earnings per share) growing by 20.5pc to 131.37c.”
“Optimum Nutrition continued its growth momentum, delivering volume and price growth in the period, and this was driven by strong global consumer demand.”
A final dividend of 21.21 euro cents per share, or 35.43 euro cents overall, is now the group’s recommended payout. This is a 10% rise over the previous year.
In 2023, Glanbia bought back €100 million worth of shares to give back to owners.
The nutritional solutions division saw a 3.3 percent decline in volumes, but they rebounded in the second half of the year.
Chief Executive Officer Hugh McGuire stated, “The Group delivered an excellent performance in 2023 with adjusted EPS (earnings per share) growing by 20.5pc to 131.37c.”
“Optimum Nutrition continued its growth momentum, delivering volume and price growth in the period, and this was driven by strong global consumer demand.”
A final dividend of 21.21 euro cents per share, or 35.43 euro cents overall, is now the group’s recommended payout. This is a 10% rise over the previous year.
In 2023, Glanbia bought back €100 million worth of shares to give back to owners.
Glanbia has revised its forecast for adjusted EPS growth this year to be between 5 and 8 percent.
Mr. McGuire continued, “Going forward, we will concentrate on generating growth and shareholder value by increasing awareness and distribution of our fantastic brands, with a strong innovation pipeline across both our growth platforms.”
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