Croda is a successful global company with 105 operations across 39 countries, a focused Life Sciences and Consumer Care company.
Key metricsSales: £1,889.6m (2020: £1,390.3m)
Sales growth (constant currency): +43.2% (2020: +1.1%)
IFRS profit before tax (PBT): £411.5m (2020: £269.5m)
Ordinary dividend (proposed full year): +9.9% (2020: +1.1%)
NPP % Group sales (constant currency): 36.6% (2020: 27.4%)
Case study: Investing in mRNA and gene therapy
As the core of our lipid systems capability within the Health Care business, Avanti is primarily focused on developing innovative lipid-based products of unparalleled purity to address specific medical challenges that are not resolved by current technology.
With over 200 lipid-based vaccines and drugs in clinical trials, and a similar number in research, there is a huge opportunity for us to move to the forefront of the biologics delivery market. We have reinforced our market leading position through R&D investment and innovation augmented by significant capital investment since we acquired Avanti in August 2020. This investment expands our GMP manufacturing and quality assessment facilities, increasing production capacity for existing projects and also enhancing our innovation pipeline for new projects. The scale of the opportunity in future mRNA and gene therapy applications is reflected in the market size which has grown rapidly since the onset of COVID-19. We are investing to maintain and enhance our first mover advantage.
Reduction in scope 1 and 2 emissions intensity since 202027.0%
Hectares of land saved above our 2019 baseline33,734.0
Organic raw materials from bio-based sources69.0%
People protected through use of our sun protection ingredients55.0million people
Our business continues to grow and strengthen through our:
Purpose-led people and culture: Using Smart science to improve lives™, aligned with our ambitious commitment to be the most sustainable supplier of innovative ingredients.
Structure and focus on fast-growing sectors: Consumer focused business, investing in growing and harnessing technology and know-how within these fast growth areas. Strongly positioned in high-growth niches and well aligned with growing consumer demand for sustainability.
Dynamic innovation engine: Open approach to innovation with 500 partners working on over 100 projects increasingly focused on sustainability.
Sustainability focus: meeting the growing consumer and customer need for sustainable, high performance ingredients.
We have a...
Highly differentiated approach: Flexible, local manufacturing providing resilience, and direct selling to customers.
High-quality business with superior financial performance: Highly cash-generative operations with world-class profit margins.
Strong balance sheet: Clear capital allocation policy prioritising disciplined investment in growth.
Reputation for attractive shareholder returns: Track record of creating shareholder value through high returns on capital and 29 years of consecutive dividend progression.
Case study: Customer driven
Sustainability makes strong commercial sense for our customers. As consumers become more educated about the impact of their behaviour on the wider environment, they are looking to make choices in the products that they buy so that they can make a positive contribution to living more sustainably.
Consumer requirements differ country-by country and whilst emerging markets are recovering more slowly from COVID-19, they are increasingly setting new trends. They offer higher growth rates over the medium term, particularly in Asia where China’s personal care market is growing 9% a year.
We tailor our offering to those differing needs by listening to our customers wherever they are. Almost all customers have experienced huge growth in digital sales during the COVID-19 pandemic, accelerating trends we were already seeing in our markets. Digital is a huge disruptor and our digital strategy focuses on R&D and production as well as sales & marketing, helping us bring innovation to market faster and in a more targeted way.
Sustainability spans every area of our business and is a crucial way we add value to our customers.Find out more
Through our product portfolio we have access to the broadest range of formulation ingredients and formulation know-how, which allows our customers to get the best performance out of their products.Find out more
Developing and delivering innovative, sustainable ingredients is at the heart of our business.Find out more