Kerry Group reports revenue of €8 billion for 2024
Kerry Group has reported revenue of €7.98 billion for 2024, which is down marginally (0.5%) when compared to the previous year (2023: €8.02 billion).
The company said that the 2024 revenue comprised volume growth of 3.3%, an overall pricing reduction of 1.9%, favourable transaction currency of 0.2%, unfavourable translation currency of 0.9%, contribution from acquisitions of 0.7% and the effect from disposals of 1.9%.
Revenue from continuing operations for the year was reported at €6.9 billion (2023: €6.975 billion).
The company noted that continuing operations exclude Kerry Dairy Ireland, which was divested at the end of last year, following a joint venture deal with Kerry Co-op.
Group earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 7.4% to €1.25 billion (2023: €1.16 billion).
Group EBITDA margin increased by 120 basis points (bps) to 15.7%, driven by benefits from the Accelerate Operational Excellence Programme, portfolio developments, operating leverage, product mix and the net effect from pricing.
Profit after tax in 2024 stood at €673 million, down from €743 million in the previous year.
The board has proposed a final dividend of 89c/share. Together with the interim dividend of 38.1c/share, this brings the total dividend for the year to 127.1c, an increase of 10.1% on 2023.
