Latest news with #Jacobs
Yahoo
6 hours ago
- Business
- Yahoo
JDE Peet's reports half-year results 2025
Strong, broad-based performance across top-line, profitability and cash flowFY 25 outlook raisedPRESS RELEASEAmsterdam, July 30, 2025 Key items1 Organic sales up +22.5%, driven by +21.5% price and +1.0% volume/mix; Reported sales up 19.8% Organic adjusted gross profit up +2.2%; Reported gross profit down -8.7%2 Organic adjusted EBIT up +2.0% Free cash flow of EUR 565 million; Net leverage at 2.5x Underlying EPS EUR 1.33 (up +3.4% to EUR 1.02 excluding fair value change in equity derivatives);Reported EPS of EUR 0.86 38% of 2025 EUR 250 million share buyback completed A message from Rafa Oliveira, CEO of JDE Peet's "We are very pleased with our business and financial results in the first half of 2025. Our performance was broad-based and strong across top-line, profitability and cash flow, despite operating in a challenging environment that continues to be characterised by persistently high green coffee prices. In the first half of the year, we launched a range of new products to address evolving consumer needs and unlock new occasions, including Peet's unique Popping Pearls, L'OR Coconut Iced Espresso, Jacobs Dubai Chocolate, and Moccona Liquid Espresso sachets— each designed to expand our portfolio and enhance relevance across markets and formats. We made solid progress on the five key priorities we set at the start of the year to simplify our operating model and optimise resource allocation. Notable actions include the divestment of our tea business in Turkey, the discontinuation of the roll-out of the L'OR Barista machine in the U.S., and the transfer of the L'OR capsules business in the U.S. to Peet's. In addition, we announced the intended closure of our factory in Banbury, U.K, the optimisation of the operating model in Europe, and the centralisation of Finance transactional activities within a Global Business Services July 1, 2025, we unveiled our new strategy: "Reignite the Amazing", aimed at driving sustainable value creation. The strategy is brand-led and centred around three Big Bets: Peet's, L'OR and 10 local icons led by Jacobs. It is underpinned by a three-phase strategic framework designed to support the company's transformation and the delivery of our new medium-term our strong performance in the first half of the year and our expectations for the second half — including the dynamics related to volatile green coffee prices and the necessary measures these require — we are confident in raising our full-year outlook for top-line and adjusted EBIT."Strategic UpdateAt its Capital Markets Day on July 1, 2025, JDE Peet's introduced its new strategy: "Reignite the Amazing", aimed at driving sustainable value creation. This brand-led strategy is centred around three Big Bets: Peet's, L'OR and 10 local icons led by Jacobs. These brands have been selected because of their ability to meet both current and emerging consumer needs, driving long-term growth and market relevance. Underpinning this transformation is a three-phase strategic framework designed to: Simplify the portfolio and organizational model; Boost operational efficiency and productivity; Deliver EUR 500 million in savings, with more than 50% achieved by the end of 2027; Reinvest 50% of savings into high-potential growth initiatives and selective high-impact capabilities, the remaining 50% will strengthen profitability; Expand the company's global presence through new growth avenues. In the first half of 2025, the company started to make solid progress in simplifying its operating model and optimising resource allocation, including: Divesting its tea business in Turkey to Efor Holding; Discontinuing the roll-out of the L'OR Barista machine in the U.S.; Transferring the L'OR capsules business in the U.S. to Peet's to better capture the significant potential of the U.S. coffee market; Announcing the intended closure of its factory in Banbury, U.K.; Optimising the operating model in Europe by reducing the number of country clusters from 10 to 5, harmonising ways of working across teams, and centralising Finance transactional activities in a Global Business Services model to improve effectiveness and efficiency. Update on EUR 250 million share buyback programme On March 3, 2025, JDE Peet's started a share buyback programme to return up to EUR 250 million to shareholders in 2025. By July 25, 2025, JDE Peet's had completed 38% of the program and is on track to complete the EUR 250 million programme by year-end. Green coffee inflation Green coffee prices experienced a significant increase during the first four months of 2025, followed by an easing of prices in the last two months of the first semester. Green coffee prices were, on average, more than 60% higher in the first half of 2025, compared to the same period last year. To mitigate the impact of this significant cost inflation, the company continues to implement various measures, including productivity and efficiency initiatives, passing on only what is unavoidable while maintaining affordability for its consumers. As a category leader, JDE Peet's remains committed to creating value across the entire supply chain— supporting coffee farmers in adopting sustainable practices while delivering consumers and retailers innovative, high-quality and enjoyable coffee products. Outlook 2025 Taking into account the strong performance in H1 25 as well as the expectations for H2, the company increases its outlook for full-year 2025: High-teens organic sales growth (increased); At least stable adjusted EBIT on an organic basis (increased); and Free cash flow of around EUR 1 billion (unchanged). FINANCIAL REVIEW HALF-YEAR 2025 in EUR million (unless otherwise stated)6M 2025 6M 2024 Organic Reported change change Sales 5,045 4,210 22.5% 19.8 % Adjusted gross profit1 1,665 1,636 2.2% 1.8 % Gross Profit 1,537 1,683 -8.3% -8.7 % Adjusted EBITDA1 849 840 — 1.1 % Adjusted EBIT1 709 692 2.0% 2.4 % Operating profit 402 672 -40.2% -40.2 % Underlying profit for the period1 649 370 — 75.4 % Profit for the period 422 360 — 17.2 % Underlying EPS (EUR)1,2,3 1.33 0.76 — 75.0 % Basic EPS (EUR)2 0.86 0.74 — 16.2 % 1 Alternative Performance Measure. Refer to Reconciliation of non-IFRS information 2 Based on the weighted average number of shares outstanding 3 Underlying earnings (per share) exclude all adjusting items (net of tax) For the full and original version of the press release click here CONFERENCE CALL & AUDIO WEBCAST Rafa Oliveira (CEO) and Yang Xu (CFO) will host a conference call for analysts and institutional investors at 10:00 AM CET today to discuss the half-year 2025 results. A live and on-demand audio webcast of the conference call will be available via JDE Peet's Investor Relations website.1 This press release contains Alternative Performance Measures (APMs), which are not recognised measures of financial performance under IFRS. For a reconciliation of these APMs to the most directly comparable IFRS financial measures, refer to Reconciliation of non-IFRS information on page 7. 2 Includes i) the mark-to-market results and ii) impairment and transformation costs related to the closure of the Banbury plant and the discontinuation of the L'OR Barista machine in the U.S. ENQUIRIES Media Khaled RabbaniMedia@ 6 1588 0795 Investors & Analysts Robin JansenIR@ 6 1594 4569 About JDE Peet's JDE Peet's is the world's leading pure-play coffee company, serving approximately 4,400 cups of coffee per second in more than 100 markets, with a portfolio of strong iconic brands including Peet's, L'OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super and Moccona. In 2024, JDE Peet's generated total sales of EUR 8.8 billion and employed a global workforce of more than 21,000 employees. Read more about our journey towards a coffee for every cup and a brand for every heart at INFORMATION Market Abuse Regulation This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Presentation The condensed consolidated unaudited interim financial statements of JDE Peet's N.V. (the "Company") and its consolidated subsidiaries ("JDE Peet's") are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS"). In preparing the financial information in these materials, except as otherwise described, the same accounting principles are applied as in JDE Peet's's consolidated financial statements at, and for, the year ended 31 December 2024 and the related notes thereto. All figures in these materials are unaudited. In preparing the financial information included in these materials, most numerical figures are presented in millions of euro. Certain figures in these materials, including financial data, have been rounded. In tables, negative amounts are shown in parentheses. Otherwise, negative amounts are shown by "-" or "negative" before the amount. Forward-looking Statements These materials contain forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995 concerning the financial condition, results of operations and businesses of JDE Peet's. These forward-looking statements contain matters that are not historical facts, and involve predictions. No assurance can be given that such future results will be achieved. Actual events or results may differ materially as a result of risks and uncertainties facing JDE Peet's. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements. There are a number of factors that could affect JDE Peet's' future operations and could cause those results to differ materially from those expressed in the forward-looking statements including (without limitation): (a) competitive pressures and changes in consumer trends and preferences as well as consumer perceptions of its brands; (b) fluctuations in the cost of green coffee, including premium Arabica coffee beans, tea or other commodities, and its ability to secure an adequate supply of quality or sustainable coffee and tea; (c) global and regional economic and financial conditions, as well as political and business conditions or other developments; (d) interruption in JDE Peet's' manufacturing and distribution facilities; (e) its ability to successfully innovate, develop and launch new products and product extensions and on effectively marketing its existing products; (f) actual or alleged non-compliance with applicable laws or regulations and any legal claims or government investigations in respect of JDE Peet's' businesses; (g) difficulties associated with successfully completing acquisitions and integrating acquired businesses; (h) the loss of senior management and other key personnel; and (i) changes in applicable environmental laws or regulations. The forward-looking statements contained in these materials speak only as of the date of these materials. JDE Peet's is not under any obligation to (and expressly disclaim any such obligation to) revise or update any forward-looking statements to reflect events or circumstances after the date of these materials or to reflect the occurrence of unanticipated events. JDE Peet's cannot give any assurance that forward-looking statements will prove correct and investors are cautioned not to place undue reliance on any forward-looking statements. Further details of potential risks and uncertainties affecting JDE Peet's are described in the Company's public filings with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) and other disclosures. Market and Industry Data All references to industry forecasts, industry statistics, market data and market share in these materials comprise estimates compiled by analysts, competitors, industry professionals and organisations, of publicly available information or of JDE Peet's' own assessment of its markets and sales. Rankings are based on revenue, unless otherwise stated. Attachment jde-peets-half-year-results-2025-reportSign in to access your portfolio
Newsweek
13 hours ago
- Sport
- Newsweek
Packers Star Josh Jacobs Has Blunt Warning for NFL Defenses
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Green Bay Packers are feeling very confident ahead of the 2025 NFL season. Led by Jordan Love, the offense appears ready to have a breakout season. Last year, the same was expected from the Packers. However, the season got off to a brutal start with Love going down in Week 1 against the Philadelphia Eagles. He suffered a knee injury that forced him out for two games. After the injury, Love never looked the same. He was unable to take the big leap that many fans and media members were expecting. Josh Jacobs #8 of the Green Bay Packers reacts to a first down during a game against the San Francisco 49ers at Lambeau Field on November 24, 2024 in Green Bay, Wisconsin. Josh Jacobs #8 of the Green Bay Packers reacts to a first down during a game against the San Francisco 49ers at Lambeau Field on November 24, 2024 in Green Bay, Wisconsin. Photo byEntering his third full year as the starter in Green Bay, Love is ready to prove his doubters wrong. To help him, the Packers made some moves on the offensive side of the football. Read more: Minnesota Vikings Receive Concerning Quarterback Update In NFL free agency, general manager Brian Gutekunst went out and signed offensive lineman Aaron Banks to improve Love's protection. Then, in the 2025 NFL Draft, Green Bay brought in wide receiver Matthew Golden in the first round and wide receiver Savion Williams in the third round. Along with the two rookies, the Packers have a lot of talent at the wide receiver position. Romeo Doubs, Jayden Reed, and Dontayvion Wicks are all ready for the start of the season and Christian Watson is progressing well in his recovery from a torn ACL. At tight end, the team has both Tucker Kraft and Luke Musgrave. Add in the fact that star running back Josh Jacobs leads the way in the backfield and Green Bay looks even more dangerous. Jacobs is excited about the Packers' offense. He recently spoke out with a blunt warning for opposing defenses. "I think we can do whatever we want," Jacobs said. "We have so many weapons. We have to get some of these guys the ball." Read more: Steelers' Super Bowl Window Could Swing Wide Open With This Trade He might just be right. On the ground last season, Jacobs racked up 1,329 yards and 15 touchdowns on 301 carries, averaging 4.4 yards per carry. With an improved passing game and Jacobs terrorizing defenses on the ground, Green Bay will be difficult to stop. Most of their dominance or lack thereof will rest on the arm of Love. That's a position the Packers are comfortable being in. It will be interesting to see what the 2025 season has in store for Green Bay. Should the team play up to its full potential, the Packers will without question be a serious Super Bowl contender. For more Green Bay Packers and NFL news, head over to Newsweek Sports.
eNCA
18 hours ago
- eNCA
High Court confirms that filming police is legal
JOHANNESBURG - A landmark judgment has affirmed the rights of South Africans when dealing with police. The High Court in Johannesburg has ruled that citizens can question officers and record them without fear of arrest. READ | Survey shows aggressive policing not inspiring trust This comes after attorney Jacobs was wrongfully arrested for filming a roadblock near his home. The court found the arrest unlawful and awarded Jacobs R250,000 in damages. The High Court judge stressed that asking questions and demanding explanations is not interference with police duties.
Daily Maverick
a day ago
- Politics
- Daily Maverick
‘Continue Kenny's good work' — McKenzie appoints PA's Liam Jacobs to replace Kunene
It's been just more than a month since former MP Liam Jacobs resigned from the DA to join the Patriotic Alliance. Now, he's back in a leading role as a City of Johannesburg councillor. Liam Jacobs is the new councillor for the Patriotic Alliance (PA) in the City of Johannesburg, PA president Gayton McKenzie announced on Monday evening, 28 July, during an address to party supporters. Jacobs replaced the party's deputy president, Kenny Kunene, who resigned last week after being found at the Sandton house of murder accused Katiso 'KT' Molefe when police were there to arrest Molefe. 'The party is deploying Liam Jacobs as the new councillor in the City of Johannesburg,' said McKenzie. He said Jacobs needed local government experience. The former DA MP was announced as the PA's mayoral candidate in Tshwane for the 2026 local government elections earlier in July. 'You're about to fix the potholes of Joburg. So you can know what is expected of you when you run Pretoria,' said McKenzie. While Jacobs will fill Kunene's council seat, it's unclear whether he will take over Kunene's role as mayoral committee member (MMC) for transport. Kunene made headlines after he was found at the home of Molefe, who was arrested in connection with the killing of Oupa Sefoka, popularly known as DJ Sumbody, in a 2022 drive-by shooting in Woodmead, Johannesburg. Sefoka died alongside his bodyguard after the vehicle they were travelling in was peppered with bullets. As Daily Maverick reported, Kunene claimed he was not friends with Molefe, but had visited the Sandton house in his capacity as the owner of online publication African News Global. He had gone there with an unnamed individual who had arranged for Kunene's media company to conduct an exclusive interview with Molefe. During his address to his supporters, McKenzie also said Johannesburg mayor Dada Morero would appoint a new MMC to replace Kunene. As Daily Maverick reported, in addition to Kunene's position needing replacing, Morero needs to appoint a new MMC for finance, since Margaret Arnolds has shifted to the role of council Speaker. From Parliament to Joburg Jacobs joins the PA's 10-seat caucus. Following the 2021 municipal elections, the PA received 2.93% of the vote in Johannesburg, enough for eight seats in the council. The party has since gained two more ward seats. In March 2025, when the PA won its 10th seat in a by-election, elections analyst Wayne Sussman wrote: 'The PA is the only party to win new seats in by-elections in Johannesburg since 2021.' This will be Jacobs's first leadership role since joining the PA during a midnight announcement on Youth Day. Before joining the PA he had been a member of the DA and head of the party's students' organisation at university. McKenzie said he expects Jacobs to 'continue the good work the DP [Kunene] has been doing'. In 2024, he was sworn in as an MP and sat on the oversight committee on sports, arts and culture, of which McKenzie was the minister. Jacobs had been a critic of McKenzie's department, often posting on social media about various alleged failures in the department and its entities. Jacobs also used social media to showcase himself, posing questions to officials, which built his profile among supporters as a rising politician who kept officials on their toes. Critics viewed his online presence and style of questioning as brash. When Jacobs left the DA, another rising star in the party, deputy federal chairperson and campaign manager Ashor Sarupen told EWN that Jacobs had made a 'huge mistake' and that 'he'll come to regret it'. Since his departure Jacobs has been working within the PA doing by-election work, using the same kind of social media blitz. This is something he will bring to the party's Johannesburg caucus in the hope of solidifying more support for the party in the lead-up to the 2026 elections. Jacobs was not immediately available for comment. But he posted on X: Pointing out problems is easy. Fixing the problem is the real work. Let's get to the REAL work! 🕳️ Salute 💚🙏 — Liam Jacobs (@LiamJacobsZA) July 29, 2025 PA deputy position vacant Addressing internal matters – and social media rumours of Jacobs replacing Kunene as deputy president – McKenzie said: 'Liam is not the DP (deputy president) of the PA.' McKenzie claimed this was gossip coming from outside the PA. 'For as long as the result of the deputy president (Kunene) is not out yet, we will not have a DP,' said McKenzie. According to McKenzie, the party will, within about 48 hours, announce a legal firm that will investigate the circumstances of Kunene's presence at Molefe's house. Among the issues the firm would probe was locating the journalist who reportedly accompanied Kunene and how Kunene was able to get Molefe's address. Kunene remains under a 30-day suspension from party activities. McKenzie, who is best friends with Kunene (they are godparents to each other's children), said this was done to show transparency. He claimed information would come out to show 'the DP was set up', but that the party needed to investigate what happened. DM
Canada News.Net
a day ago
- Business
- Canada News.Net
LVMH eyes Marc Jacobs sale amid portfolio reshuffle efforts
NEW YORK CITY, New York: Marc Jacobs, once a crown jewel in LVMH's fashion portfolio, may soon find a new home. The French luxury conglomerate is in advanced talks to sell the American label, according to sources familiar with the matter. The discussions are ongoing with several potential buyers, including Authentic Brands Group, owner of Reebok, and brand management firm WHP Global. Both declined to comment or did not immediately respond. Bluestar Alliance, which owns Brookstone and recently acquired Off-White from LVMH, is also reportedly in the running. A deal could value Marc Jacobs at around US$1 billion, according to the Wall Street Journal, which first reported the development. LVMH, Marc Jacobs, and Bluestar Alliance have not responded to requests for comment. In 2024, Bloomberg reported that LVMH was evaluating strategic options for the brand, though LVMH denied the claim at the time. Founded in 1984 by designer Marc Jacobs, the brand is known for its eclectic, irreverent aesthetic that blends luxury with streetwear. LVMH acquired a stake in the label after naming Jacobs the creative director of Louis Vuitton in 1997, a post he held until 2013. The potential sale reflects a broader portfolio reshaping by LVMH. Last year, it sold streetwear label Off-White to Bluestar Alliance, and earlier this year, designer Stella McCartney repurchased LVMH's minority stake in her eponymous label. While McCartney will continue advising LVMH on sustainability, the move marked another step away from the group's diversification strategy in fashion. A sale of Marc Jacobs would mark a significant shift for LVMH, which is navigating a softer luxury market and intensifying global competition. The company's second-quarter earnings came in slightly below expectations, though executives noted signs of recovery in the Chinese market, a critical growth engine. Analysts say LVMH appears focused on its core powerhouses, Louis Vuitton, Dior, and Tiffany & Co., and may be trimming niche or underperforming assets to tighten focus and unlock capital. If finalized, the Marc Jacobs sale would follow a string of high-profile deals reshaping the luxury sector, including Prada's $1.4 billion acquisition of Versace from Capri Holdings earlier this year.
