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FIRST QUARTER 2021 INTERIM MANAGEMENT STATEMENT Glanbia reports a strong Q1 , FY 21 Adj EPS¹ growth expected to be upper end of 6 % to 12 % 06 May 2021 - Glanbia plc , the global nutrition group ( ' Glanbia ' , the ' Group ' , " plc " or the " Company " ) , is issuing this Interim Management Statement for the three month period ended 3 April 2021 ( " first quarter ” or “ Q1 2021 ” or “ Q1 ” ) . This statement is issued in conjunction with the plc's Annual General Meeting ( “ AGM " ) which is being held today . Summary Q1 2021 wholly - owned revenues up 10.5 % on a constant currency basis ( up 2.0 % reported ) versus prior year due to good demand across both Glanbia Performance Nutrition ( " GPN " ) and Glanbia Nutritionals ( " GN " ) ; Q1 like - for - like² ( " LFL " ) wholly - owned revenue growth of 9.7 % versus prior year ; GPN delivered revenue growth in Q1 2021 of 14.1 % on a constant currency basis with LFL branded revenue growth of 17.6 % largely driven by strong demand in North America and Asia Pacific ; GN Nutritional Solutions ( " NS " ) delivered volume growth in Q1 2021 of 10.3 % driven by strong customer demand for vitamin and mineral premix and solid trends in dairy solutions ; GPN Transformation Programme on track and delivering revenue and margin improvements ; Strong operating cash flow ; net debt at the end of Q1 2021 of € 498.5 million , a decrease of € 191.6 million versus the net debt position in the prior year ; and Following a strong first quarter . Glanbia expects FY 21 adjusted EPS to be in the upper end of the previously guided range of 6 % to 12 % growth on a constant currency basis . Commenting today , Siobhán Talbot , Group Managing Director said : " I would like to thank our colleagues and partners around the world for their continued resilience in managing the challenges of Covid - 19 , keeping supply chains going , delivering essential nutrition and helping Glanbia to deliver a strong start to 2021. In the first quarter of 2021 Glanbia's revenues increased by 10.5 % , constant currency , versus the prior year . Revenue growth was driven by improving trading conditions in North American and Asia Pacific markets for both the GPN and GN business segments . Globally , as we emerge from the pandemic , health , wellness and nutrition are prominent consumer trends . In our portfolio , we saw in Q1 strong consumer demand for the Optimum Nutrition brand within GPN and for vitamin and mineral premix from customers of Nutritional Solutions with revenue growth also reflecting the reopening of certain markets and channels . While the strong underlying demand for Glanbia's health and wellness focused portfolio is continuing into the second quarter we remain vigilant to the continued volatile and disruptive potential of the Covid - 19 pandemic . The strong first quarter gives us confidence for the remainder of the year and we expect FY 21 adjusted EPS growth to be in the upper end of the previously guided range of 6 % to 12 % on a constant currency basis . " ¹ Full Year 2021 Adjusted earnings per share on a constant currency basis . 2 Like - for - like revenue represents the sales increase / ( decrease ) year - on - year , excluding acquisitions made in the prior 12 months on a constant currency basis . 1