Glanbia : FY results broadly in line with slightly better organic growth than consensus. A new SBB of € 100m is announced
>Organic sales growth of -8.2% (vs css -8.8%) hit by pricing, while EBITA margin is in line at 7.8% - Glanbia reported sales of $ 5.4bn in 2023, which is next to estimates. Organic sales came in at -8.2%, better than the consensus forecast and below ours on lower pricing for Glanbia Nutrition. GPN delivered +4.8% in line with expectations, driving by pricing. The decline in volumes is mainly driven by the SlimFast brand in the US. ON brand is growing by 17% both in v...Glanbia is a performance nutrition and ingredients group, engaged in providing performance nutrition, cheese, dairy ingredients, specialty non-dairy ingredients and vitamin and mineral premixes. Co. segments include: Global Performance Nutrition, which is involved in the branded performance nutrition business; Global Ingredients, which manufactures cheddar cheese, provides dairy and non-dairy nutritional ingredients and micro-nutrient premixes; Dairy Ireland, which is engaged in the manufacture and sale of a range of consumer products and farm inputs; and Joint Ventures & Associates, which is engaged in the manufacture and sale of cheese, dairy ingredients and dairy consumer products.
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