Glanbia : H1 results mostly in line. FY guidance confirmed for adjusted EPS growth despite lower growth expected for GPN
>Organic H1 sales growth of -2.2% close to css expectations. EBITDA margin up 180bp to 14.4% vs 14.2% expected - H1 sales came in at $ 1815.6m, in line with expectations. Organic growth of – 0.8% is slightly below forecasts ( +0.3%e and css +0.9%) on lower pricing and volume for GPN and NS. GPN growth came in lower than expected at +0.9%, driven by volume growth (+3.1% vs -1.9% in Q1 and css +3.9%) while pricing is lower by 3.9%. ON brand remains very dynamic (+7.7% o...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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