Ingredients supplier Kerry published its Q1 Interim Management Statement for 2025, reporting a 6.3% increase in revenue over the period.
Kerry experienced volume growth of 3.1%, which it said was led by its bakery, snacks and beverage categories. It reported “good volume growth in the period given overall consumer market demand”.
Foodservice continued its outperformance with volume growth of 4.7%, driven by new menu innovations, seasonal products, and solutions to reduce operational cost and complexity. Growth in the retail channel was supported by an increase in nutritional enhancement renovation activity with a range of customers.
Business volumes in emerging markets increased by 6.4% in the period, led by a “strong performance” in Southeast Asia.
Outlook for 2025
Kerry found that against the backdrop of “highly macroeconomic conditions” and the continually evolving tariff and global trade landscape, Kerry’s extensive local footprint, global sourcing network, and customer-centric business model “position it well to navigate through this period”.
While recognising a heightened level of market uncertainty, Kerry said it “remains well positioned” for good volume growth and strong margin expansion.
Edmond Scanlon, Kerry CEO, commented: “We delivered a good overall performance in the first quarter, particularly given market conditions. We achieved good volume growth in the Americas and APMEA, with Europe similar to the prior year. Our strong EBITDA margin expansion was led by efficiencies delivered through Accelerate operational excellence.
“Against a backdrop of highly dynamic macroeconomic conditions, our extensive local footprint, our unique offering, and the strength of our business model positions us well to navigate through this period, supporting our customers as their innovation and renovation partner.
“While recognising the heightened level of market uncertainty, we remain well positioned for good volume growth and strong margin expansion, and we maintain our full-year constant currency earnings guidance.”
