Kerry Group (KRZ) Status update summary

Strategic growth drivers and market opportunity

• Focus on food service, emerging markets, and renovation as primary growth drivers, leveraging deep taste and biotechnology capabilities and a global innovation ecosystem.

• Consistent outperformance of end-markets, with 3.8% average volume growth and 320 basis points of EBITDA margin expansion over four years.

• Portfolio transformation to a pure play taste and nutrition company, expansion into emerging markets, and investment in next-generation technologies.

• Addressable market expected to exceed EUR 100 billion within the decade, driven by innovation, renovation, and regulatory trends.

• Differentiated capabilities in taste and biotechnology, supported by over €3 billion investment in science and technology, enable value creation for customers.

Financial performance and 2030 targets

• Volume growth targeted at 3%-5%, with regional expectations: Americas 3%-5%, Europe 1%-2%, APMEA 5%-9%.

• EBITDA margin goal set at 20%-21% by 2030, supported by operating leverage, product mix, and efficiency initiatives.

• High-single-digit plus constant currency EPS growth and increased cash conversion target to 85%.

• Return on capital employed target raised to 12%-13% by 2030, with EUR 3.5 billion free cash flow expected from 2027-2030.

• Capital allocation priorities remain: reinvestment, dividends, strategic M&A, and share buybacks.

Innovation, renovation, and operational excellence

• Renovation is a structural market shift, with key areas including sodium reduction, protein enhancement, and clean label solutions; product renovation accounts for ~40% of the pipeline.

• Integrated technology solutions and digital and AI initiatives drive efficiency, supply chain optimization, customer experience, and agile product innovation.

• Accelerate 2.0 program focuses on footprint optimization, digital excellence, and operating leverage.

• R&D investment exceeds EUR 300 million, focused on new innovations in taste and biotechnology.

• Digital excellence and operational optimization programs are driving efficiency and supporting growth ambitions.