Kerry Group (KRZ) Q2 2026 Pre recorded earnings summary

Executive summary

• Group revenue reached €3.34bn with 3.3% volume growth, led by strong Q2 performance and outperformance in end markets.

• EBITDA margin expanded by 60bps to 16.7%, driven by Accelerate 2.0 efficiencies and favorable product mix.

• Adjusted EPS rose 7.9% in constant currency to 214.1 cent; interim dividend increased by 10% to 46.2 cent per share.

• Free cash flow was €262m, reflecting 76% cash conversion; share buybacks totaled €173m.

• 2030 targets announced: 3-5% volume growth, 20-21% EBITDA margin, high-single-digit+ adjusted EPS growth.

Financial highlights

• Revenue reached €3.3bn, with 3.3% volume growth year-over-year, but reported revenue declined 3.7% due to currency headwinds and disposals.

• EBITDA increased to €558m, margin up to 16.7% (+60bps from H1 2025).

• Adjusted EPS at 214.1 cent (+7.9% constant currency); basic EPS at 175.5 cent (-3.8%).

• Free cash flow of €262m, with a 76% cash conversion rate.

• Interim dividend per share up 10% to 46.2 cent; €173m spent on share buybacks.

Outlook and guidance

• Full-year constant currency adjusted EPS guidance maintained at 6-10% growth.

• Foreign currency translation expected to be a 1-2% headwind on EPS for 2026.

• 2030 targets: 3-5% volume growth, 20-21% EBITDA margin, 85%+ cash conversion, 12-13% ROACE.

• Positioned for continued volume growth and margin expansion, supported by innovation and renovation pipeline.