Glanbia Reports 5.5% Decline in Q1 Revenue
Source: The DairyNews
Glanbia plc has released its interim management statement for the first quarter of 2024, revealing a 5.5% decrease in revenue compared to the same period last year, ending March 30.
Despite this decline, the company states that its Q1 performance aligns with expectations. While there was a 1.5% increase in volume, a significant 6.9% price decrease, primarily in the dairy market, led to the revenue drop on a constant currency basis.
Glanbia Performance Nutrition (GPN) experienced a like-for-like revenue decrease of 1.9%. Although volume grew by 1.4%, a 3.3% price decline impacted overall revenue. Notably, Optimum Nutrition, a segment within GPN, demonstrated robust volume growth supported by increased brand investment, reinforcing its leadership position in the protein powder market.
In terms of regional performance, GPN revenue in the Americas declined by 5.1%, while international revenue increased by 4.7%, driven by strong volume growth, particularly in key markets where Optimum Nutrition saw increased consumer traction.
Shifting focus to the Nutritional Solutions segment, like-for-like revenue declined by 1.7% due to a 5.5% price decrease, despite a 3.8% volume growth.
Glanbia Performance Nutrition (GPN) experienced a like-for-like revenue decrease of 1.9%. Although volume grew by 1.4%, a 3.3% price decline impacted overall revenue. Notably, Optimum Nutrition, a segment within GPN, demonstrated robust volume growth supported by increased brand investment, reinforcing its leadership position in the protein powder market.
In terms of regional performance, GPN revenue in the Americas declined by 5.1%, while international revenue increased by 4.7%, driven by strong volume growth, particularly in key markets where Optimum Nutrition saw increased consumer traction.
Shifting focus to the Nutritional Solutions segment, like-for-like revenue declined by 1.7% due to a 5.5% price decrease, despite a 3.8% volume growth.
