One of Lithuania's largest dairy processing groups, „Vilvi Group“, has earned earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 24.8 million in the first quarter of the year (EUR 14.8 million), 1.7 times more than the same period of last year.

„The increase in profit was driven by higher export sales prices for dry dairy products and fats“, „Vilvi Group“ said in its latest performance report.

The group's net profit in January–September grew 1.9 times to 19.9 million euros (10.6 million euros), while revenue –grew by 18% to 181.5 million euros (153.9 million euros), „Vilvi Group“ reported on the „Nasdaq“ Vilnius Stock Exchange– on Friday.

The group said it bought 264,000 tonnes of milk during the period, up 7.6%, and exported its production to more than 60 countries.

In 2023, the group earned an audited net profit of €2.5 million, five times less than in 2022, and paid a dividend of €3.7 million this year. Last year, it generated consolidated revenues of €212.2 million – down 9.3%.

„Vilvi Group“ consists of Vilkyškių pieninė, „Modest“, Kelmės pieninė, „Kelmės pienas“, „Pieno logistika“ and Latvia's „Baltic Dairy Board“.