There was no big surprise in the annual results release by Glanbia on Wednesday – yet their detail reveals how the pandemic has accelerated change in the business’s structure with high-tech consumer-facing brands taking a hammering, while B2B ingredients and the old cheese workhorse allowed damage limitation. At group level, revenue remained static at €3.8 billion in 2020. Earnings, reported by Glanbia as before interest, tax and amortisation (EBITA), took a beating after recovery in the second half of last year failed to make up for the onset of Covid-19 in a catastrophic second quarter. Glanbia saw its EBITA margin…

Join The Currency

INTRODUCTORY OFFER.

Sign up today: Full annual membership for just €200.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 3,200 exclusive interviews, investigations, and analysis, plus over 220 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.