12 March 2014
Siim Kaevats, Avonmore
Siim Kaevats, Avonmore
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CAPITAL INVESTMENT AND RETURNS<br />
• Significant capital investment<br />
programme over recent years<br />
• Range of attractive investment<br />
opportunities<br />
• €1<strong>12</strong>m capex for 2013 (€77m<br />
strategic)<br />
• Strong track record of delivery of<br />
returns on investment<br />
• 2013 ROCE 14.2% (20<strong>12</strong>: 14.1%)<br />
• €<strong>12</strong>0m capex for <strong>2014</strong> (€80m<br />
strategic)<br />
€m<br />
180<br />
160<br />
140<br />
<strong>12</strong>0<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
15.0%<br />
14.0%<br />
13.0%<br />
<strong>12</strong>.0%<br />
11.0%<br />
10.0%<br />
9.0%<br />
8.0%<br />
Significant investment programme....<br />
2010 2011 20<strong>12</strong> 2013<br />
Bus. Sustaining Strategic Acquisitions<br />
... with strong track record for ROCE<br />
2010 2011 20<strong>12</strong> 2013<br />
2013 FULL YEAR RESULTS<br />
www.glanbia.com 20
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