The company’s profitability saw significant improvement, with an expansion of its EBITDA margin by 90 basis points (0.9%). This strong margin expansion was driven by a combination of key operational factors, including enhanced cost efficiencies, operating leverage, a favorable product mix shift, and the strategic contribution from recent acquisitions and disposals. This focus on internal optimization and high-value offerings has allowed the global ingredients giant to thrive even while top-line revenue dipped by 1% due to adverse currency translation effects.

Analyzing the sources of growth, the foodservice channel was a major outperformer, delivering a volume increase of 4.1%, which the company described as a “significant channel outperformance” during the period. Furthermore, emerging markets proved highly dynamic, with business volumes rising by 5.3%, primarily led by a strong performance in Southeast Asia. Regionally, the Americas showed “good growth” fueled by successful product launch activity, while both Europe and the APMEA (Asia Pacific, Middle East and Africa) region saw sequential volume improvement in Q3.

The success was supported by strong innovation activity within specific dairy end markets, including bakery, snacks, and the core dairy segment. Kerry is leveraging specialized solutions to drive growth, notably through its salt and sugar reduction technologies, as well as high-value ingredients like enzymes, natural extracts, and proactive health ingredients. In the retail channel, growth was sustained by increased focus on retailer brand innovation and nutritional enhancement renovation, catering to evolving consumer preferences.