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Kerry Group release preliminary statement of 2020 results

Strong recovery in business performance, with volumes returning to growth in the fourth quarter

Edmond Scanlon, Chief Executive Officer, Kerry Group

Kerry Group, the global taste & nutrition and consumer foods group, has reported business performance for the year ended 31 December 2020.

The figures show group revenue of €7.0bn, reflecting a volume reduction of 2.9% (Q4: +2.2%). Commenting, Edmond Scanlon, Chief Executive Officer, said: “This has been a truly unique year, with the daily lives of people across the world profoundly impacted by the COVID-19 pandemic. I am exceptionally proud of the response of our people, and how they have supported our customers and local communities throughout the year, aligned to our Purpose, Inspiring Food, Nourishing Life.

In the year, there were notable distinctions in business performance by channel. Sustained strong growth was achieved in the retail channel, primarily through growth in authentic cooking, plant-based offerings and health and wellness products. Performance in our foodservice channel was most significantly impacted in the second quarter, as the introduction of restrictions affected our customers’ operations. The proactive nature of our business model has been a key driver of our strong recovery through the year, as we supported foodservice customers in adapting their operations and menus to cater for increased consumer demand for takeaway, online and delivery.

We made very good progress on a number of strategic fronts. We commenced the strategic development of our Georgia, US facility, which will have world-leading capabilities. We launched our 2030 sustainability strategy - Beyond the Horizon, which details Kerry’s sustainability targets and will be central to our growth strategy, as we continue to innovate with our customers and expand our reach of sustainable nutrition solutions. We completed a number of key acquisitions aligned to our strategic growth priorities in the year, and have since announced our intention to acquire Spanish listed Biosearch Life.

While uncertainty from COVID-19 continues to impact our customers, consumers and industry, we will continue to cocreate with our customers to meet accelerating consumer demands, and look forward to a year of strong recovery and good growth.”