REG - Tate & Lyle PLC - Trading Statement

Tate & LyleAnnouncement

Today 07:00

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RNS Number : 4242U  Tate & Lyle PLC  26 February 2026

26 February 2026 - Tate & Lyle PLC

 

Q3 trading in line with expectations; outlook for the full-year unchanged;

focused on actions to drive top-line growth

 

Tate & Lyle issues the following trading statement for the nine months
ended 31 December 2025.

Nick Hampton, Chief Executive said:

"Tate & Lyle's third quarter operating performance was in line with our
expectations and consistent with the first half.

In November, at our interim results, we outlined a series of actions to drive
top-line growth and improve performance.  We made good progress on these
actions during the quarter.  We continued to make targeted investments in
capabilities and technology to strengthen our customer offering, and saw
further encouraging momentum in customer engagement in our combined
portfolio.  The value of cross-selling opportunities in the new business
pipeline increased significantly in the third quarter.

Delivering the benefits of the CP Kelco combination continues to progress well
with run-rate cost synergies and revenue synergies tracking in line with our
expectations.  Our 5-year US$200m productivity programme remains on-track
with further savings delivered during the quarter.

The renewal of customer framework agreements for the 2026 calendar year is
well-advanced.  With our number one priority returning the business to
top-line growth, we have selectively chosen to invest to drive volume* and
revenue growth.  This is the right thing to do for the business, giving us a
stronger platform for future growth and we are pleased with the engagement we
are seeing from customers to our expanded offering.

In the near term, I am confident that the actions we are taking will improve
the top-line performance of the business.  Looking further ahead, our leading
positions in sweetening, mouthfeel and fortification put us in a strong
position to benefit from consumer demand for healthier, more nutritious food
and drink.  The breadth of our portfolio coupled with the targeted
investments we are making to accelerate customer wins in key growth areas
position us well to drive profitable revenue growth over time."

Trading

For the three months to 31 December 2025, Group revenue was 15% higher on a
reported basis and in constant currency, reflecting the combination with CP
Kelco on 15 November 2024.  On a pro forma basis and in constant currency,
revenue was 2% lower reflecting continued muted market demand.  Performance
in all regions was broadly in line with the first half.

For the nine months to 31 December 2025, on a pro forma basis revenue in the
Americas was 2% lower than the prior period, with modestly higher pricing more
than offset by lower volume*.  In Europe, Middle East and Africa lower
pricing resulted in 5% lower revenue, while in Asia Pacific revenue was up 1%,
driven by higher volume*.

Financial results

                                 9 months to

31 December 2025
                                 Revenue  Revenue change  Revenue Change

                                 £m       reported(1)     pro forma(2)

                                          %               %
 Americas                        749      18%             (2)%
 Europe, Middle East and Africa  475      27%             (5)%
 Asia Pacific                    282      79%             1%
 Group                           1 506    29%             (3)%

1     Comparative information is on a statutory basis, including CP Kelco
from acquisition on 15 November 2024.  Change is in constant currency.

2     Comparative information is pro forma basis, including the impact of
CP Kelco for the entire period.  CP Kelco acquisition completed 15 November
2024. Change is in constant currency.

Outlook

Our outlook for the 2026 financial year is unchanged from our interim results
statement on 6 November 2025.  For the year ending 31 March 2026, in constant
currency and compared to pro forma comparatives, we continue to expect revenue
and EBITDA to decline by low-single digit percent compared to the prior year.

*  Volume is the change in revenue in the period attributable to both the
change in volume and the change in composition or mix of revenue.

END

 

Conference call

The third quarter conference call will be held today at 08.00am GMT hosted by
Nick Hampton, Chief Executive and Sarah Kuijlaars, Chief Financial Officer.
Please note that participants are required to pre-register for the call using
this link
(https://event.loopup.com/SelfRegistration/registration.aspx?booking=1WJ6t8mW6TgG6fQTSUHzDWwpJoCOlamu0pF9nCBQW2o=&b=2389e96d-457b-46a8-bebb-fec356d5b031)
. Following registration, participants will be sent an email containing dial
in numbers and their unique pin codes. Participants are requested to dial-in
at least 10 minutes before the start of the call.  Dial in details are as
follows:

 

UK dial in number: +44 (0)33 0551 0202

UK toll free number: 0808 109 0701

US dial in number: +1 786 496 5601

US toll free number: +1 866 571 0905

Conference ID: 6840649#

User ID: Provided upon registration (register here
(https://event.loopup.com/SelfRegistration/registration.aspx?booking=1WJ6t8mW6TgG6fQTSUHzDWwpJoCOlamu0pF9nCBQW2o=&b=2389e96d-457b-46a8-bebb-fec356d5b031)
)

 

14 day conference call replay:

UK replay number: +44 (0)20 8196 1480

UK toll free replay number: 0800 640 6344

US toll free replay number: +1 866 583 1035

Access code: 6840649#

 

For more information contact Tate & Lyle PLC:

Kate Postans, VP, Investor Relations

Mobile: +44 (0)7388 702 934

 

Nick Hasell (FTI Consulting), Media Relations

Mobile: +44 (0)7825 523 383

 

About Tate & Lyle:

Supported by our 165-year history of ingredient innovation, we partner with
customers to provide consumers with healthier and tastier choices when they
eat and drink. We are proud that millions of people around the world consume
products containing our ingredients and solutions every day.  Through our
leading expertise in sweetening, mouthfeel and fortification, we develop
ingredients and solutions which reduce sugar, calories and fat, add fibre and
protein, and provide texture and stability to food and drink in categories
including beverages, dairy, bakery, snacks, soups, sauces, and dressings

 

Tate & Lyle recently acquired CP Kelco, a leading provider of pectin,
speciality gums and other nature-based ingredients to create a leader in
mouthfeel, significantly enhancing our solutions capabilities. Following this
combination, we now have more than 5,000 employees working in around 75
locations in 38 countries, serving customers in more than 120 countries.
Science, Solutions, Society is our brand promise and how we will achieve our
purpose of Transforming Lives through the Science of Food. By living our
purpose, we believe we can successfully grow our business and have a positive
impact on society. We live our purpose in three ways, by supporting healthy
living, building thriving communities and caring for our planet.

 

Tate & Lyle is listed on the London Stock Exchange under the symbol
TATE.L. American Depositary Receipts trade under TATYY. For the year ended 31
March 2025, and on a pro forma basis which assumes for illustrative purposes
that the combination with CP Kelco took place on 1 April 2024, revenue for the
enlarged Tate & Lyle Group would have been £2.12 billion. For more
information, please visit www.tateandlyle.com or follow Tate & Lyle on
LinkedIn, X (Twitter), Facebook or YouTube.

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