London · Delayed Price · Currency is GBP · Price in GBX Croda International Earnings Call Transcripts
Fiscal Year 2026
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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.