"Pieno žvaigždės' profit down 27% this year, revenue almost unchanged

Asociatyvi nuotr. Gedimino Stanišausko nuotr.

In the first three months of the year, one of the largest dairy processing companies in the country, „Pieno žvaigždės“, earned a net milk of €2.2 million, a decrease of 27% compared to the net profit of €2.8 million for the same period of last year.

The company's revenue in January–March was almost the same as in the same period in 2023– €45.58 million (€45.67 million), the company said in unaudited results on the „Nasdaq“ Vilnius Stock Exchange on Friday.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first quarter of the year amounted to EUR 3.9 million, down 18% from EUR 4.6 million in January/March 2023.

Revenues from sales of dry dairy products were down 1.6 times this year at €1.2 million (€1.9 million), cheeses were down 4% at €4.9 million (€5.1 million), but revenues from fresh dairy products were up 1% at €36.8 million (€36.4 million).

The company's sales in Lithuania in January –March fell by 4% year-on-year to €27.4 million (€28.4 million), but in the rest of the EU they rose by 6% to €8.9 million (€8.4 million), and in non-EU countries they rose 4% to €9.3 million (€8.9 million).

Pieno žvaigždžių„ shares are listed on the „Nasdaq“ of the Vilnius Stock Exchange's Official List.