JDE Peet's N.V.

Latest Results (16.03.2026):

JDE Peet's N.V. — Half‑year (H1) 2025 results: the company reported strong top‑line growth driven by price, modest organic margin expansion on adjusted measures, solid cash generation and a raised full‑year outlook. 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 and net leverage fell to 2.5x. Management highlighted continued green‑coffee cost volatility and launched a new strategy, "Reignite the Amazing".

Headline sales and volume

Reported sales: EUR 5,045m (+19.8% reported). Organic sales +22.5%, driven by a +21.5% price effect and +1.0% volume/mix — all major categories and most segments delivered stable to rising volumes.

Profitability (adjusted vs reported)

Adjusted gross profit (organic) +2.2%; adjusted EBIT (organic) +2.0%. Reported gross profit declined (company notes an ~‑8.7% reported decline when including mark‑to‑market, impairment and transformation costs). Adjusted EBITDA was EUR 849m.

Earnings per share and underlying profit

Underlying profit (excluding adjusting items) EUR 649m (up 75.4% largely due to a EUR 151m non‑cash fair value gain on equity derivatives). Underlying EPS EUR 1.33; excluding that fair‑value effect underlying EPS would be EUR 1.02 (up 3.4%). Reported basic EPS EUR 0.86.

Cash flow, leverage and balance sheet

Free cash flow H1: EUR 565m (net cash from operations EUR 688m less capex). Net debt at 30 June 2025: EUR 3,992m (down EUR 337m vs year‑end); net leverage 2.5x (vs 2.7x at year‑end). Total liquidity EUR 2,405m (cash + undrawn RCF).

Capital returns and dividend

EUR 250m share buyback programme: 38% completed by 25 July 2025. AGM approved a EUR 0.73 per share dividend for 2025 (two instalments); dividend payable at 30 June recognised as EUR 354m.

Commodity headwinds and cost response

Green coffee prices averaged >60% higher in H1 2025 vs H1 2024. Management is offsetting inflation through productivity, selective price pass‑through and cost measures while aiming to keep products affordable.

Segment performance (organic)

Europe: organic sales +17.2%, organic adjusted EBIT +8.6%. LARMEA: organic sales +53.8% (price-driven), organic adjusted EBIT +19.2%. Peet’s: organic sales +4.1%, organic adjusted EBIT down -37.6% (high prior‑year base and phasing). APAC: organic sales +8.4%, organic adjusted EBIT down -14.7%.

One‑off / restructuring actions and strategy

Notable actions in H1: divestment of Turkish tea business, discontinuation of L'OR Barista US roll‑out, transfer of L'OR capsules in the US to Peet’s, intended closure of Banbury factory and Europe operating model simplification (10→5 clusters). On 1 July 2025 JDE Peet’s announced "Reignite the Amazing" (three Big Bets: Peet’s, L’OR and 10 local icons led by Jacobs) with a target of EUR 500m savings and reinvestment of 50% into growth.

Outlook

Full‑year 2025 guidance upgraded: now targeting high‑teens organic sales growth, at least stable adjusted EBIT on an organic basis (raised), and free cash flow around EUR 1.0bn (unchanged).