London · Delayed Price · Currency is GBP · Price in GBX Croda International Earnings Call Transcripts
Fiscal Year 2026
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First half results were in line with expectations, with profits outpacing sales and strong growth in Consumer Care, especially Beauty Actives. Transformation initiatives and innovation are driving margin expansion, and full-year guidance is reaffirmed.
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Q1 2026 sales rose 1% at constant currency, with Consumer Care up and Life Sciences down. No material impact from Middle East conflict; full-year outlook unchanged, supported by strong order book, ongoing transformation, and price increases to offset inflation.
Fiscal Year 2025
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Sales rose 7% in constant currency with strong growth in patented ingredients and Consumer Care. Transformation initiatives are driving margin recovery, with a target of over 20% operating margin by 2028 and free cash flow conversion above 12%.
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Sales rose 6.5% in constant currency, led by innovation in Beauty Actives and F&F, with Crop recovering. Full-year guidance is unchanged amid market uncertainty, with cost savings and margin recovery on track. Q4 is expected to be seasonally lower.
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First half results showed 7% sales growth and 12% profit growth, driven by strong volumes and cost savings, despite price pressures and macro uncertainty. The transformation program targets £100 million in annualized savings by 2027, with full-year guidance unchanged.
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Sales grew 8% (9% at constant currency) in Q1, led by strong volumes across all businesses and improved asset utilization. Tariff surcharges are being applied, with no evidence of pre-buying, and full-year guidance is unchanged amid a stable margin and ongoing cost savings.
Fiscal Year 2024
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Sales declined 4% but profits met guidance due to cost control, with strong free cash flow and a modest dividend increase. Consumer Care and Life Sciences are set for growth in 2025, supported by operational efficiencies and a focus on local/regional customers.
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First half 2024 saw sequential sales and margin improvement, led by Consumer Care and innovation, despite a 7% revenue decline year-over-year. Free cash flow surged 69%, and the outlook remains positive for most segments, though Crop Protection and Consumer Health are still weak.