Ornua has announced that it has delivered a €3.4 billion turnover – an increase of 36.7% on its 2021 performance.
According to the Kerrygold owner’s latest financial results, group EBITDA and operating profit – pre-Ornua Value Payment – were €157.0 million and €127.2 million, respectively.
Commenting on the results, John Jordan, CEO, Ornua, said, “Ornua continued to build on its strong and consistent growth trajectory, delivering a robust performance in what was a uniquely challenging year, with factors such as rising inflation impacting the entire supply chain.
“Ornua responded to these shifting market dynamics by remaining focused on our strategy and committed in our efforts to deliver for customers, consumers, and our member cooperatives. This is reflected in the exceptional sales performance, underpinned by the hard work and commitment of our 3,000-strong global team.”
Irish Farming Families
As a cooperative whose purpose is to create value for its members and the 14,000 Irish farming families whom it represents, Ornua noted that it prioritised strong returns throughout the year.
This is reflected in an Ornua Value Payment of €72.5 million, which is made up of monthly and year-end cash bonuses and the premium paid on purchases from members.
“The Kerrygold brand reached a significant milestone, celebrating six decades since the brand’s launch in 1962, by achieving continued volume growth globally,” Jordan added.
“The brand’s success is testament to the generations of Irish dairy farming families who produce the best-quality milk, our member cooperatives, who operate well-invested, world-class manufacturing facilities, and the teams, spanning 60 years, who proudly bring the taste of Kerrygold to the world.”
‘Optimistic For The Future’
Jordan said that the group is very optimistic for the future of its brands and its business.
This, he said, will be “supported by a newly remodelled five-year strategy, focused on addressing emerging challenges and opportunities to drive sustainable growth in key markets, ensuring we continue to deliver value for our member cooperatives and the 14,000 Irish dairy farming families we represent.”
Today, Ornua exports to over 110 countries and sells over 11 million packets of butter and cheese each week.
Read More: Ornua Reports ‘Excellent’ Trading Performance In Full Year
© 2023 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click subscribe to sign up for the Checkout print edition.
