Results from Kerry Group for 2024 published on Tuesday morning include the performance of Kerry Dairy Ireland showing earnings climbed by almost €10m during the year to €63m, with EBITDA margin at the business rising to 4.8% during the year.

Revenue at Kerry Dairy Ireland, net of inter-Kerry Group-segment revenue, was virtually unchanged at €1.05bn.

Kerry Group reported that it made a profit after tax on the disposal of Kerry Dairy Ireland to Kerry Co-op of €27.8m. Kerry Group said that it will account for its 30% shareholding of Kerry Dairy Ireland, valued at €150m, as a financial asset as Group “does not have significant influence” over Kerry Dairy Ireland and does not have access to the economic benefits of ownership.

Looking at the group as a whole, adjusted earnings before tax were €932m, up from €866m in 2023. The company said it will pay a final dividend of 89c per share.

Revenue overall

Group revenue overall was €7.981bn in 2024 and €6.929m net of Kerry Dairy Ireland. Looking ahead, Kerry Group forecast adjusted earnings per share growth of between 7% and 11% in 2025. While the group’s current €300m share buyback programme continues, there was no announcement of a new programme when it is completed.

Edmond Scanlon, Kerry Group Chief Executive Officer said: “We are pleased to report a strong performance across the year, with earnings per share growth of 9.7% reflecting continued volume progression in Taste and Nutrition and strong margin expansion across the business,” and that “Kerry remains strongly positioned for good market outperformance due to our unique positioning with our customers as an innovation and renovation partner.”

He thanked employees at Kerry Dairy Ireland and wished them well for the future.

Initial investor reaction to the results from Kerry Group were mixed with shares trading slightly lower at €97.45 in the wake of the announcement.

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