"Pieno žvaigždės will pay a dividend of EUR 6.3 million

One of the country's largest dairy processors „Pieno žvaigždės“, which generated a net audited profit of EUR 10.067 million last year, will pay out a dividend to its shareholders of EUR 6.319 million or 14 cents per share.

The company's shareholders on Friday distributed EUR 17.477 million of cumulative profits, of which EUR 11.158 million were decided to be carried forward to the next financial year, the company said on the „Nasdaq Vilnius“ exchange. Pieno žvaigždės“.

The company's net profit fell 24% last year compared to 2023 (€13.255 million in 2023), its pre-tax profit was down 29% to €11.11 million (€15.621 million), while earnings before interest, taxes, depreciation and amortisation (EBITDA) was €18.1 million (€23 million).

The company's audited revenue last year was €210.4 million, up 4.6% on the previous year's figure of €201.1 million.

The company is headquartered in Vilnius, with branches in Mažeikiai, Pasvalys, Kaunas and Panevėžys.  

In 2024, the average number of its employees will be around 1.7 thousand (in 2023, – around 1.64 thousand).