Kerry Group Q1 Report 2023

• Group organic growth of 8.5% (volume +0.2% | pricing +8.3%)
• Taste & Nutrition volume +1.2% | pricing +7.2%
• Dairy Ireland volume -5.8% | pricing +14.4%
• Group EBITDA margin -70bps
• Net Debt of €1.7bn
• Full year constant currency earnings guidance unchanged

Group reported revenue increased by 10.3% in the period. This comprised increased business volumes of 0.2%, increased pricing of 8.3%, favourable translation currency of 1.5% and contribution from business acquisitions net of disposals of 0.3%. Group EBITDA margin decreased by 70bps primarily driven by the mathematical impact of passing through input cost inflation, partially offset by the positive effect from cost efficiency initiatives.