Glanbia PLC Glanbia plc holds Capital Markets Day (0483P)

TIDMGLB

RNS Number : 0483P

Glanbia PLC

23 May 2018

Glanbia plc holds Capital Markets Day and sets out five year ambition

23 May 2018, Glanbia plc ("Glanbia", the "Group" or the "PLC") is holding a Capital Markets Day ("CMD") today at its Downers Grove, Illinois, USA innovation center. The CMD will run from 8am local time (2pm BST) to 12 noon local time (6pm BST). During the CMD, Glanbia will reiterate its 2018 full year guidance and outline its five year financial ambition. The CMD will be webcast, details of which are provided below.

Commenting today, Siobhán Talbot, Group Managing Director of Glanbia said:

"I'm very pleased to host our 2018 Capital Markets Day at our innovation Center in Downers Grove, Illinois. Over the course of the event, my colleagues and I will outline our ambition to grow total Group revenue from EUR3.6 billion, pro forma(1) , in 2017 to over EUR5.0 billion by 2022. Glanbia is today a focused Group with market leading platforms in performance nutrition, value added nutritional solutions and dairy ingredients. We are well positioned to capture growth from global consumer nutrition trends related to health & wellness, active lifestyles and clean ingredients."

Medium term ambition

Glanbia Group, with its three platforms of Glanbia Performance Nutrition, Glanbia Nutritionals and Strategic Joint Ventures is positioned to deliver long term sustainable growth. This will be enabled by organic growth and selective M&A. The Group's balance sheet is strong and Glanbia has the capacity to fund future growth opportunities.

The five year ambition which will be outlined at the CMD is as follows:

 
 Key performance indicator                             Metric 
----------------------------------------------------  --------------- 
 Total Group revenue (including Glanbia share 
  of Joint Ventures) by 2022                           EUR5.0 billion 
----------------------------------------------------  --------------- 
 5 year average adjusted earnings per share growth, 
  constant currency, 2018 to 2022                      5% to 10% 
----------------------------------------------------  --------------- 
 Annual return on capital employed                     10% to 13% 
----------------------------------------------------  --------------- 
 Annual operating cash conversion                      Greater than 
                                                        80% 
----------------------------------------------------  --------------- 
 

CMD Agenda - 23 May 2018

 
 Speaker                                   CST                 BST 
---------------------------------------  -------------------  ----------------- 
 Siobhán Talbot, Glanbia             8:00am to 8.45am     2.00pm to 2.45pm 
  Group Managing Director, Introduction 
  and strategy 
---------------------------------------  -------------------  ----------------- 
 Brian Phelan, CEO, Glanbia               8.45am to 9.30am     2.45pm to 3.30pm 
  Nutritionals 
---------------------------------------  -------------------  ----------------- 
 Break                                    10 minutes           10 minutes 
---------------------------------------  -------------------  ----------------- 
 Hugh McGuire, CEO Glanbia Performance    9.40am to 10.25am    3.40pm to 4.25pm 
  Nutrition 
---------------------------------------  -------------------  ----------------- 
 Mark Garvey, CFO, Glanbia                10.25am to 11.10am   4.25pm to 5.10pm 
---------------------------------------  -------------------  ----------------- 
 Questions and answers with               11.10am to 11.50am   5.10pm to 5.50pm 
  all speakers 
---------------------------------------  -------------------  ----------------- 
 

Webcast

Details on how to view the webcast can be found at the following link: https://www.glanbia.com/investors/investor-day-2018

Full year 2018 reiteration of guidance

Glanbia reiterates its previously stated guidance that on a pro-forma(2) basis adjusted earnings per share for the continuing Group is expected to grow between 5% - 8%, constant currency, for full year 2018. Earnings growth is expected to be delivered in the second half of 2018.

1 Total Group Revenue includes wholly owned revenue and Glanbia's share of revenue from Joint Ventures. The 2017 pro-forma total Group Revenue number includes the full year effect of an acquisition made by Joint Ventures during the year.

2 Pro-forma adjusted Earnings Per Share of the continuing Group, constant currency. This eliminates the contribution of discontinued operations from prior year comparatives. Discontinued operations relates to assets which were sold on 2 July 2017.

ENDS

Cautionary statement

This announcement contains forward-looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this announcement. Due to the inherent uncertainties, including both economic and business risk factors underlying such forward looking information, actual results may differ materially from those expressed or implied by these forward-looking statements. The Directors undertake no obligation to update any forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise.

For further information contact

Glanbia plc [phone]

Mark Garvey, Group Finance Director

Liam Hennigan, Head of Investor Relations: [phone]

Martha Kavanagh, Head of Media Relations: [phone]

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May 23, 2018 07:00 ET (11:00 GMT)