Last checked at 29 Mar 2022 07:00
29 March 2022
Investor seminar
Accelerating growth in Consumer Care
Croda International Plc ('Croda') is today hosting a seminar for investors and analysts on accelerating growth in its Consumer Care sector.
The event will focus on how Consumer Care has evolved significantly in recent years to become a highly differentiated sector for Croda, comprising four business units, each with leading market positions in fast growth niches. Leadership in sustainability and innovation, as well as increased proximity to customers, is accelerating growth, with Consumer Care sales targeted to reach £1 billion by 2025 (from £763m in 2021).
In the coming years, Consumer Care expects to deliver a minimum of 5% annual sales growth, with synergies from the recent Fragrances and Flavours ('F&F') acquisitions in addition to this. In 2022, there is likely to be an additional benefit to sales from the successful recovery of cost inflation. Return on sales is expected to improve over the medium term, from 24.7% in 2021, principally through improved business mix and innovation.
Commenting on current trading, Steve Foots, Group Chief Executive Officer, said:
"Trading in the first three months of 2022 has been robust, including a strong start for Consumer Care, and we continue to successfully recover input cost inflation."
No new information will be provided at the event.
Further information:
The event is being held at The Royal Society of Chemistry in London and will start at 1430 BST. The presentation will also be available at www.croda.com/investors. The webcast will include a facility for asking questions.
For enquiries contact:
Investors: | David Bishop, Croda | +44 7823 874428 |
| Reece De Gruchy, Croda | +44 7826 548908 |
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Press: | Charlie Armitstead, Teneo | +44 7703 330269 |