JDE Peet's N.V.

Latest Results (30.01.2026):

JDE Peet’s N.V. — Half‑Year (H1) 2025 results (six months ended 30 June 2025): the company delivered strong top‑line growth driven by pricing, modest organic volume/mix gains, improved adjusted operating performance on an organic basis, and robust cash generation. Reported sales were EUR 5,045m (up 19.8% reported; +22.5% organic), adjusted EBIT was EUR 709m (organic +2.0%), free cash flow was EUR 565m, net debt fell to EUR 3,992m (net leverage 2.5x), and management raised the full‑year outlook for sales and adjusted EBIT.

Top‑line performance

Sales: EUR 5,045m in H1 2025, +19.8% reported and +22.5% organic. Organic growth was driven by a +21.5% price effect and +1.0% volume/mix. All major categories and most segments showed stable or rising volume/mix, with especially strong price‑led growth in LARMEA.

Profitability and margins

Adjusted gross profit (organic) +2.2%; adjusted EBIT (organic) +2.0% to EUR 709m. Reported gross profit was EUR 1,537m and the press release notes reported gross profit down materially (impacted by mark‑to‑market, impairments and transformation costs). Adjusted EBITDA was EUR 849m.

Earnings per share

Underlying EPS reported EUR 1.33 (H1 2025). The company highlights a EUR 151m favourable non‑cash fair‑value gain on equity derivatives that inflated underlying results; excluding that effect underlying EPS would be EUR 1.02. Reported basic EPS was EUR 0.86.

Cash flow and balance sheet

Free cash flow EUR 565m (H1 2025 vs EUR 315m H1 2024). Net debt declined by EUR 337m to EUR 3,992m at 30 June 2025; net leverage improved to 2.5x adjusted EBITDA (LTM). Total liquidity (cash + undrawn RCF) ~EUR 2.4bn.

Capital returns and dividend

Share buyback: 38% of the EUR 250m 2025 buyback completed by 25 July 2025. Dividend: AGM approved EUR 0.73 per share for 2025 (two instalments); the first instalment (EUR 0.37) was paid 11 July 2025; a EUR 354m dividend payable was recognised at 30 June 2025.

Segments — quick snapshot

Europe: Sales EUR 2,677m, organic +17.2%, adjusted EBIT organic +8.6%. LARMEA: Sales EUR 1,286m, organic +53.8% (price +55.0%), adjusted EBIT organic +19.2%. Peet’s: Sales EUR 645m, organic +4.1%, adjusted EBIT organic down -37.6% (high base and gross‑profit phasing). APAC: Sales EUR 417m, organic +8.4%, adjusted EBIT organic down -14.7%.

Costs, commodities and pricing

Green coffee prices averaged >60% higher year‑on‑year in H1 2025 (sharp increase early in the period, easing later). JDE Peet’s offset much of the inflation via price increases (reflected in the +21.5% price effect), productivity measures and selective cost actions while aiming to balance affordability.

Strategy and corporate actions

At Capital Markets Day the company launched "Reignite the Amazing" (brand‑led: Peet’s, L’OR, 10 local icons led by Jacobs) and a three‑phase plan targeting EUR 500m savings (50% by end‑2027) with reinvestment into growth. H1 actions include divestment of Turkey tea business, pause/transfer decisions around L’OR Barista and capsule roll‑outs, intended closure of Banbury factory, Europe operating model consolidation, and centralisation of finance transactional activities.

Outlook

Full‑year 2025 outlook raised: management now expects high‑teens organic sales growth and at least stable adjusted EBIT on an organic basis; free cash flow guidance remains around EUR 1.0bn for FY 2025 (unchanged).