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Glanbia shareholders vent frustration at AGM - Premium
The almost 12% rise in Glanbia’s share price following the publication of the company’s results for the first three months of 2025 on Wednesday morning did little to dampen shareholder frustration about Glanbia’s recent market performance at the annual general meeting held later that day in Naas.
Despite the bounce in shares to around €11.30 each by the time the AGM started, Glanbia shares were still trading more than 35% lower than where they were a year ago. The meeting heard from Clearway Capital’s Gianluca Ferrari, who outlined again that he felt the company should be broken into its component parts to maximise value for shareholders.
Other speakers, several of whom identified themselves as dairy farmers or members of Tirlán, spoke of their disappointment that their shares in the company are at the same price they were more than a decade ago, and called for significant changes.
Glanbia chair Donard Gaynor said that the AGM was not the correct forum for discussing a strategic review of the company. In its quarterly report, Glanbia had said that its performance had been in line with expectations and that it maintained its full-year earnings guidance for earnings-per-share of between $1.24 and $1.30 (€1.09 to €1.14).
The company announced it was suspending its share buyback programme for now, as Tirlán shareholding had reached 29.9%, but expected to restart it following the Tirlán share spinout to its members.
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The almost 12% rise in Glanbia’s share price following the publication of the company’s results for the first three months of 2025 on Wednesday morning did little to dampen shareholder frustration about Glanbia’s recent market performance at the annual general meeting held later that day in Naas.
Despite the bounce in shares to around €11.30 each by the time the AGM started, Glanbia shares were still trading more than 35% lower than where they were a year ago. The meeting heard from Clearway Capital’s Gianluca Ferrari, who outlined again that he felt the company should be broken into its component parts to maximise value for shareholders.
Other speakers, several of whom identified themselves as dairy farmers or members of Tirlán, spoke of their disappointment that their shares in the company are at the same price they were more than a decade ago, and called for significant changes.
Glanbia chair Donard Gaynor said that the AGM was not the correct forum for discussing a strategic review of the company. In its quarterly report, Glanbia had said that its performance had been in line with expectations and that it maintained its full-year earnings guidance for earnings-per-share of between $1.24 and $1.30 (€1.09 to €1.14).
The company announced it was suspending its share buyback programme for now, as Tirlán shareholding had reached 29.9%, but expected to restart it following the Tirlán share spinout to its members.
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