Mission Statement, Vision, & Core Values (2025) of Kerry Group plc.

An Overview of Kerry Group plc

General Summary of Kerry Group plc

Kerry Group plc, founded in 1972, is an Irish company specializing in the production of food ingredients and flavors. Headquartered in Tralee, County Kerry, Ireland, the company has evolved significantly over the decades, from a dairy processing business to a leader in the global food industry. As of 2024, Kerry Group offers a diverse range of products, including meat, dairy, culinary, and plant-based ingredients, alongside a vast array of flavors used in various food applications.

As of 2024, Kerry Group generates sales that amount to approximately €7.5 billion, showcasing its expansive reach in over 140 countries globally. The company operates through two primary segments: Taste and Nutrition, and Meat and Dairy, meeting the needs of both consumer and food service sectors.

Company’s Financial Performance in the Latest Financial Reports

Kerry Group’s financial performance for the year ended December 31, 2023, demonstrated remarkable growth, with reported revenue of €7.5 billion. This reflects an increase of 7.5% compared to the previous fiscal year. Notably, the Taste and Nutrition segment contributed significantly to this success, accounting for €5.2 billion in sales, an increase of 9% year-on-year.

The company’s EBITDA reached a record high of €1.1 billion, resulting in an impressive EBITDA margin of 14.7%. Key drivers of this growth included increased demand for plant-based products and innovative flavor solutions. Furthermore, Kerry Group's net profit for the period was reported at €700 million, up from €620 million in the previous year, highlighting a 12.9% growth in profitability.

Introduction to Kerry Group as a Leader in the Industry

Kerry Group plc has established itself as one of the leading companies in the food and beverage industry, recognized for its commitment to innovation and sustainability. The company is a key player in the global market, leveraging its extensive research and development capabilities to launch products that meet evolving consumer preferences. As of 2024, Kerry operates a network of over 150 manufacturing plants and 30 innovation centers worldwide, which support its ambitious growth strategy.

With an unyielding focus on quality and performance, Kerry Group continues to set industry benchmarks. Its successful portfolio of brands includes market leaders in various sectors, and the organization is well-positioned to capitalize on emerging trends, particularly in health and wellness, sustainability, and digital transformation. For investors and stakeholders, understanding the dynamics that contribute to Kerry Group's success is vital in appreciating its standing in the competitive landscape.

Mission Statement of Kerry Group plc

Mission Statement of Kerry Group plc

Kerry Group plc, a global leader in taste and nutrition, has a clear and impactful mission statement that articulates its commitment to providing sustainable food solutions while driving value for its stakeholders. The mission statement emphasizes a customer-centric approach, innovation, and the delivery of high-quality products and services. This mission is pivotal in guiding the company’s long-term objectives and ensuring alignment across all levels of the organization.

Core Components of Kerry Group's Mission Statement

1. Commitment to Sustainability

Kerry Group is dedicated to sustainability as a core tenet of its mission. The company recognizes the importance of reducing its environmental impact while delivering high-quality products. For instance, in 2022, Kerry Group reported a **42%** reduction in greenhouse gas emissions since 2016, underlining its commitment to sustainable practices. Additionally, the company aims to achieve **100%** recyclable or reusable packaging by **2025**.

2. Focus on Innovation

Innovation is a driving force behind Kerry Group's operations, enabling the company to adapt to changing consumer preferences and market demands. In 2022, Kerry Group invested over **€200 million** in research and development to enhance its product offerings. This investment has led to the introduction of over **1,500** new products annually, demonstrating the company’s dedication to innovation.

3. Delivering Quality Products and Services

The mission statement emphasizes Kerry Group's commitment to delivering high-quality products and services. In the fiscal year 2022, Kerry Group achieved a revenue of **€7.5 billion**, representing a year-on-year growth of **14%**. The company is dedicated to meeting the needs of its customers by providing tailored solutions across various sectors, including food and beverage, pharmaceuticals, and animal nutrition.

Vision Statement of Kerry Group plc

Vision Statement of Kerry Group plc

The vision statement of Kerry Group plc emphasizes innovation and sustainability, aiming to be the most trusted partner in the food, beverage, and pharmaceutical sectors. Dedicated to investing in R&D, the company seeks to develop healthier, sustainable food solutions that meet the evolving consumer demands.

Commitment to Sustainability

Kerry Group is committed to sustainability, with a vision to lead the industry in environmental and social governance. In 2023, Kerry set a target to achieve 100% renewable electricity in its global operations by 2025. The company is also focused on reducing food waste, targeting a 50% reduction in food waste across its manufacturing facilities by 2030.

Focus on Innovation

Kerry Group prioritizes innovation as a core element of its vision. For instance, in 2022, the company invested approximately €200 million in R&D, which contributed to the launch of over 1,000 new products. This reflects an ongoing commitment to enhancing product offerings in line with market trends.

Global Expansion

Kerry Group envisions expanding its global footprint to meet the growing demand for plant-based and alternative protein products. In 2023, the company reported an increase in revenue from its plant-based segment by 25%, reflecting a growing consumer trend towards health-conscious food choices.

Partnerships and Collaborations

Another key aspect of Kerry Group's vision is fostering strong partnerships. The company has collaborated with over 250 industry partners globally to innovate and bring products to market that align with consumer preferences and sustainability goals. This collaborative approach is expected to enhance Kerry's market position and drive future growth.

Core Values of Kerry Group plc

Integrity

Kerry Group emphasizes integrity as a foundational core value. This principle involves conducting business ethically and transparently, ensuring trust among stakeholders.

In 2023, Kerry Group was recognized with a score of 78 in the annual Corporate Ethics Survey, highlighting their commitment to ethical practices. The company has implemented a robust whistleblower policy, encouraging employees to report unethical behavior without fear of retaliation.

Innovation

Innovation drives Kerry Group's growth and ability to adapt to changing market demands. This core value supports the development of new products and solutions for customers.

In 2022, Kerry Group invested approximately €270 million in research and development, leading to the launch of over 300 new products. Their 'Taste & Nutrition' platform is a prime example, providing tailored solutions that meet consumer preferences.

Sustainability

Sustainability reflects Kerry Group’s commitment to environmental stewardship and social responsibility. The company aims to minimize its carbon footprint and promote responsible sourcing and production.

In 2023, Kerry Group achieved a 20% reduction in greenhouse gas emissions per ton of production compared to 2021 levels, aligning with their goal to reach net zero by 2030. They also introduced the 'Sustainable Agriculture Program,' which engages farmers in sustainable practices.

Customer Focus

Customer focus is critical to Kerry Group's approach, ensuring that they meet and exceed the needs of their clients. This value drives the company's service and product development.

Kerry Group's customer satisfaction score was reported at 85% in 2023, driven by a dedicated customer service team and tailored solutions that cater to specific market demands. The introduction of the 'Customer Innovation Hub' in 2022 has further strengthened their engagement with clients.

Teamwork

Teamwork emphasizes collaboration across all levels of the organization, fostering a culture of mutual respect and collective problem-solving.

Kerry Group has implemented cross-functional teams that contributed to a 10% increase in overall productivity in 2023. Their annual employee engagement survey showed 90% of employees feeling valued and included in decision-making processes.