Kerry Group (OTCPK:KRYA.F) 2026 Conference February 19, 2026 08:00 AM ET Company ParticipantsEdmond Scanlon - CEOElizabeth Horvath - VP of Marketing for North AmericaMarguerite Larkin - CFOModeratorGood morning, welcome. If we could all find our seats, please, for our next presentation. It gives me great pleasure to introduce Kerry's presentation, which we always look forward to. Kerry is a global leader in the B2B specialty ingredients market, with a consistent, strong track record of growth. In fact, you' ...

Financial Data and Key Metrics Changes - The company has experienced a decline in performance this year, breaking a nine-year streak of increasing sales, EBITDA, and EPS [4][5][13] - The company is targeting a 1% to 3% CAGR for EBITDA over the next three years, with a focus on improving the quality of earnings and reducing exceptional items [39][50] Business Line Data and Key Metrics Changes - The frozen food category remains strong, with the company maintaining a leading position in Europe, but has faced challenges due to weather conditions impacting sales [2][36] - The company is focusing on innovation and renovation, with plans to accelerate product launches in key categories like fish fingers and pizza [11][21] Market Data and Key Metrics Changes - The frozen food category has shown growth over the last decade, but recent unusual weather patterns have led to a decline in growth numbers [36][37] - The company has seen a stabilization of value share and growth in volume share in the second quarter of 2025, despite earlier declines [36] Company Strategy and Development Direction - The company is implementing a €200 million productivity program over the next three years, focusing on supply chain efficiencies and overhead reductions [41][46] - The strategy includes a significant emphasis on brand investment, product quality, and innovation to maintain competitive positioning in the healthy food category [41][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges faced this year, including inflation and supply chain issues, but remains optimistic about future growth opportunities in the frozen food category [6][13] - The company is committed to learning from past experiences and adapting its strategies to better respond to market conditions [10][12] Other Important Information - The company is launching a new master brand advertising campaign aimed at maximizing media efficiency across various markets [17][20] - The company has a strong focus on health and nutrition, with a significant portion of its revenue coming from fish, protein, and vegetables [16] Q&A Session Summary Question: What has changed regarding long-term targets for revenue and EBITDA growth? - Management indicated that the previous targets were too tight given the volatile environment and emphasized the need for a larger savings program alongside lower EBITDA guidance [55][56] Question: Are the targeted cost savings real, and where will they be allocated? - Management clarified that the $200 million savings target is a cumulative increase and will be reinvested into product quality and innovation [60][62] Question: How does the company plan to manage pricing actions while minimizing market share loss? - Management explained that they have developed a revenue growth management tool to make more informed pricing decisions by category and country [67][70] Question: What is the outlook for capital allocation given strong free cash flow? - Management stated that they will continue to evaluate capital allocation strategies, including share buybacks and dividends, in light of current valuations [71]