Irish dairy, sports nutrition and ingredients group Glanbia has set out five-year financial ambitions during a capital markets day held at its US innovation centre in Illinois.

Glanbia’s targets include reaching annual group revenue of EUR5bn (US$5.85bn) by 2022 and five-year average, adjusted earnings per share growth, at constant currency from 2018-2022, of 5% to 10%.

Siobhán Talbot, group managing director of Glanbia, said: “Glanbia is today a focused group with market leading platforms in performance nutrition, value added nutritional solutions and dairy ingredients. We are well positioned to capture growth from global consumer nutrition trends related to health & wellness, active lifestyles and clean ingredients.”

Glanbia, with its three divisions of Glanbia Performance Nutrition, Glanbia Nutritionals and Strategic Joint Ventures, suggests it is positioned to deliver long-term sustainable growth from a mixture of organic growth and “selective M&A”. 

The company saw its revenue increase by 9.2% in 2017, on a year-on-year basis, to EUR2.38bn.

In March it revealed it had joined forces with cooperative Dairy Farmers of America (DFA) and others on a new production facility in Michigan.