Ingredients supplier Kerry has released its half year results for 2025, finding its Europe foodservice category delivered “good growth” while its bakery category “performed well”.
Reported revenue for the period increased by 1.3% to €3.5 billion, while Kerry achieved a 3% increase in volume growth.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 7.5% to €556 million, with its EBITDA margin increasing by 100 basis points to 16.1%.
Kerry said its business volume growth in the period was “well ahead” of food and beverage end markets, which it said was supported by continued product renovation activity in the retail channel and continued innovation in the foodservice channel.
Growth in the period was led by Kerry’s bakery, snacks and beverage categories, and the supplier highlighted that this was supported by “strong growth” in savoury taste and its Tastesense™ salt and sugar reduction technologies.
Europe revenue decreased
Reported revenue in the Europe region decreased by 0.4% to €731 million reflecting volume growth of 0.2%, and Kerry said performance in the region was driven by growth in foodservice through seasonal and new launch activity with quick service restaurants, while performance in the retail channel reflected continued soft market dynamics.
It also highlighted that growth in its bakery category was led by texture systems, with performance in the meals category reportedly reflecting softer overall market dynamics.
Edmond Scanlon, chief executive officer, commented: “The first half of the year reflected a good performance particularly given market conditions, where we delivered volume growth and strong margin expansion, driving constant currency EPS growth of 9.8%.
“Volume growth was led by a strong performance in the Americas, with Europe in line with expectations, and growth in APMEA reflective of variable market dynamics. Our strong EBITDA margin expansion was driven by efficiencies delivered through Accelerate Operational Excellence as well as portfolio and product mix benefits.
“We continued to strategically develop our business, including expanding our capacity within APMEA and LATAM, and further investing in our taste and bio-fermentation technology capabilities across the business.
“Looking to the remainder of the year, while recognising a heightened level of market uncertainty, we remain well positioned for volume growth and strong margin expansion, as we continue to support our customers as an innovation and renovation partner.”
