Shares in food technology and ingredients company Kerry Group fell today after it reported lower revenues and profits for 2025.
Kerry today reported revenues of €6.758 billion for 2025 while its after tax profits came in at €658.8m for the year. This compares to revenues of €6.929 billion for 2024 and after tax profits of €733.2m.
The company also today announced a new €300m share buyback programme today.
Kerry said its board has proposed a final dividend of 98 cent per share, an increase of 10.1% on the final 2024 dividend.
It said that together with the interim dividend of 42 cent per share, this brings the total dividend for the year to 140 cent, an increase of 10.1% on 2024.
Kerry said that food and beverage markets in 2025 reflected soft overall consumer demand, due to macroeconomic and geopolitical uncertainty.
It noted that customer innovation centred around new and differentiated flavour combinations, products with functional health benefits and relative value options.
"Against this backdrop, Kerry delivered strong volume growth significantly ahead of food and beverage end markets, driven by good innovation activity in the foodservice channel and continued product renovation activity in the retail channel, addressing a variety of customer needs," the company said.
"Good growth was achieved across a broad range of technologies, including savoury taste, Tastesense salt and sugar reduction technologies, botanicals, natural extracts, proactive
health ingredients, taste solutions for high-protein applications, enzymes and bio-fermented ingredients," it added.
The company also said today that Tom Moran will retire as Chair and as a director of Kerry at the end of the AGM on 30 April. Kerry said that Fiona Dawson has been appointed by the Board of Directors as Chair Designate.
Edmond Scanlon, Kerry's chief executive, said the company delivered another year of strong end market volume outperformance and margin expansion, supporting high-single-digit constant currency adjusted earnings per share growth.
"We achieved Group revenue of €6.8 billion and EBITDA of €1.2 billion, as we extended our nutritional reach of positive and balanced solutions to 1.46 billion consumers," the CEO said.
He noted that volume growth was driven by a strong performance in the Americas throughout the year, on the back of foodservice innovation and increased nutritional renovation across a broad range of customers.
Mr Scanlon said the company continued to strategically evolve the business, including further developing its Biotechnology Solutions and Taste capabilities, expanding its manufacturing footprint in emerging markets and strengthening its customer innovation centre network, while executing on its Accelerate programme.
"As we look to 2026, Kerry remains well positioned for strong market outperformance, supporting our customers as their innovation and renovation partner," he said.
"We expect to deliver continued volume growth and margin expansion, resulting in constant currency adjusted earnings per share growth of 6% to 10%," he added.
Breaking down its divisions, Kerry said that revenues in its Americans unit rose by 3.8% to €3.674 billion with growth led by Snacks, Dairy and Bakery while it also saw strong growth across both foodservice and retail channels.
Its business in Latin America achieved strong growth, led by Brazil, it added.
Revenue in its Europe region dipped by 0.5% to €1.440 billion for the year. It said that volume performance in the retail channel reflected subdued market conditions, while foodservice achieved good overall growth despite a soft finish to the year.
"Performance in the region was led by Beverage, with good growth in nutritional and refreshing beverages through Kerry's integrated taste technologies and proactive health ingredients. Growth in Snacks was supported by innovation across global and regional customers, with lower volumes in Meals and Dairy reflecting a soft performance in Western Europe," it added.
Meanwhile, revenue in the APMEA Region rose by 4.2% to €1.644 billion, with growth led by Bakery, Meat and Meals.
It noted that its performance in the region was led by strong growth in Southeast Asia, with the Middle East and Africa delivering solid growth and volumes in China remaining challenged.
Shares in Kerry Group were lower in Dublin trade today.
