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KERRY Date 16 February 2021 KERRY GROUP PRELIMINARY STATEMENT OF RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 Strong recovery in business performance , with volumes returning to growth in the fourth quarter Kerry Group , the global taste & nutrition and consumer foods group , reports business performance for the year ended 31 December 2020 . OVERVIEW Group revenue of € 7.0bn reflecting a volume reduction of 2.9 % ( Q4 : + 2.2 % ) > Taste & Nutrition volumes -3.0 % ( Q4 : + 0.7 % ) Consumer Foods volumes -2.6 % ( Q4 : + 8.8 % ) > Pricing + 0.3 % > Group trading margin of 11.5 % ( 2019 : 12.5 % ) LEI : 635400TLVVBNXLFHWC59 Taste & Nutrition trading margin of 14.2 % ( 2019 : 15.3 % ) Consumer Foods trading margin of 7.8 % ( 2019 : 7.6 % ) > Adjusted EPS reduction of 9.4 % on a constant currency basis to 345.4 cent ( -12.3 % reported ) Basic EPS of 313.0 cent ( 2019 : 320.4 cent ) Final dividend per share of 60.6 cent ( total 2020 dividend up 10.1 % to 86.5 cent ) Free cash flow of € 412m ( 2019 : € 515m ) > Strategic review of Dairy business > Edmond Scanlon , Chief Executive Officer " This has been a truly unique year , with the daily lives of people across the world profoundly impacted by the COVID - 19 pandemic . I am exceptionally proud of the response of our people , and how they have supported our customers and local communities throughout the year , aligned to our Purpose , Inspiring Food , Nourishing Life . In the year , there were notable distinctions in business performance by channel . Sustained strong growth was achieved in the retail channel , primarily through growth in authentic cooking , plant - based offerings and health and wellness products . Performance in our foodservice channel was most significantly impacted in the second quarter , as the introduction of restrictions affected our customers ' operations . The proactive nature of our business model has been a key driver of our strong recovery through the year , as we supported foodservice customers in adapting their operations and menus to cater for increased consumer demand for takeaway , online and delivery . We made very good progress on a number of strategic fronts . We commenced the strategic development of our Georgia , US facility , which will have world - leading capabilities . We launched our 2030 sustainability strategy - Beyond the Horizon , which details Kerry's sustainability targets and will be central to our growth strategy , as we continue to innovate with our customers and expand our reach of sustainable nutrition solutions . We completed a number of key acquisitions aligned to our strategic growth priorities in the year , and have since announced our intention to acquire Spanish listed Biosearch Life . While uncertainty from COVID - 19 continues to impact our customers , consumers and industry , we will continue to co create with our customers to meet accelerating consumer demands , and look forward to a year of strong recovery and good growth . " Kerry Group | Preliminary Statement of Results 2020 1