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THIRD QUARTER 2021 INTERIM MANAGEMENT STATEMENT Glanbia reports a strong Q3 , FY 21 adjusted EPS¹ growth expected to be upper end of 17 % to 22 % Memorandum of Understanding signed for the sale of 40 % shareholding in Glanbia Ireland to Glanbia Cooperative for € 307 million - 10 November 2021 – Glanbia plc , the global nutrition group ( " Glanbia " , the ' Group ' , " plc " or the " Company " ) , is issuing this Interim Management Statement for the nine month period ended 2 October 2021 ( “ third quarter ” or “ Q3 2021 ” or “ Q3 ” ) . Summary ● ● ● Q3 2021 year - to - date wholly - owned revenues up 15.7 % on a constant currency basis ( up 9.7 % reported ) versus prior year due to good demand across both Glanbia Performance Nutrition ( " GPN " ) and Glanbia Nutritionals ( " GN ” ) ; GPN delivered revenue growth in the period up 23.2 % on a constant currency basis with LFL branded revenue growth of 25.2 % driven by strong performance nutrition consumption trends across the Americas and International which continued in the third quarter ; GN Nutritional Solutions ( " NS " ) delivered volume growth in the period up 15.7 % on a constant currency basis driven by strong ongoing customer demand for micro - nutrients and healthy snacking solutions ; ● Acquisition completed of PacMoore Process Technologies , LLC ( " PacMoore " ) , a US food ingredient solutions business for $ 52m in Q3 2021 ; ● Announcing memorandum of understanding signed for the sale of the plc's shareholding in Glanbia Ireland to Glanbia Cooperative Society Ltd ( " Glanbia Co - op " ) for € 307 million ; Strong operating cash flow ; net debt at the end of Q3 2021 € 589.0 million which represents a decrease of € 39.1 million versus the net debt position in the prior year ; and Following a strong third quarter , Glanbia expects FY 21 adjusted EPS to be at the upper end of the previously guided range of 17 % to 22 % growth on a constant currency basis . Commenting today , Siobhán Talbot , Group Managing Director said : " In the first nine months of 2021 Glanbia grew its wholly - owned revenue by 15.7 % on a constant currency basis . This was driven by strong demand across our portfolio as GPN grew like - for - like branded revenue by 25.2 % and NS grew like - for - like volume by 15.7 % . We continue to make progress on our strategic initiatives . GPN's transformation programme is running to schedule and NS completed the acquisition of PacMoore , a US based ingredients solutions business . Furthermore I'm pleased to announce that we have signed a memorandum of understanding for the sale of the plc's shareholding in Glanbia Ireland to Glanbia Co - op for € 307 million . A separate announcement with details of this agreement has been published today . The Group continues to navigate the various impacts of the Covid - 19 pandemic well delivering strong volume growth in the third quarter with our plants operating to plan and price increases implemented in response to cost inflation . We are focused on progressing our ESG agenda , working towards emissions reductions and implementing our diversity and inclusion strategy . The strong third quarter gives us confidence for the remainder of the year and we expect FY 21 adjusted EPS growth to be at the upper end of the previously guided range of 17 % to 22 % , on a constant currency 1 Full Year 2021 adjusted Earnings Per Share ( " EPS " ) on a constant currency basis . 1