Gintaras Bertašius, the CEO and shareholder of one of the largest dairy processing groups in Lithuania, „Vilvi Group“, promises to pay dividends to the shareholders again this year. He has not yet disclosed the specific amount, but says it will amount to 25% of the net profit for 2024. 

„Yes, we will pay dividends and we will pay them in accordance with our dividend policy – that is 25% of net profit. If we had an EBITDA (earnings before interest, taxes, depreciation and amortisation – BNS) of almost EUR 25 million for the three quarters that are announced, then of course it will be more than that, and I would say it is a good result, and the shareholders should be satisfied," Bertašius said in an interview with the „Verslo žinios“ portal's blog.

In 2023, the group earned a net audited profit of EUR 2.5 million and paid out EUR 3.7 million in dividends to its shareholders last year. It paid dividends of €3.17 million, or 31 cents per share, out of its 2022 profits (€12.6 million), €3.17 million, or 26.5 cents, and €2.4 million, or 20 cents, out of its 2021 profits (€10.8 million).

According to Mr Bertašius, the Group's strong performance in 2024 is the result of many years of work and investment. 

„This is not the profit of one decade, we have been very targeted with certain products, we have built a plant in Tauragė, where we are drying the whey parts (...), and this is where the profit, the EBITDA contributes to the profit basket, the EBITDA. All I can say is that all our plants were profitable last year and each one of them made a good contribution to the overall basket (...). All the vectors worked in one direction," said the owner of „Vilvi Group“.

„As a group, we've taken it to the next level (...), we've found our own way, (...) we're working extremely efficiently. The Group is growing, we are creating new divisions, in 2023 we created a logistics division (...), we created a new project implementation division. All this has produced results," added Mr Bertašius.

In 2018, Gintaras and Romualda Bertašiai transferred a controlling 50.8% stake in the company to a joint life insurance policy in the name of their daughter and son with the Austrian company „Swisspartners“, which in April 2023 owned 58.56 shares in Vilkyškės pieninė, the rest being held by around 1,600 minority shareholders.

„Vilvi Group“ generated consolidated revenues of €245.4 million last year, up 16.6% on 2023. The Group has not yet announced its 2024 earnings, and in the three quarters it generated EBITDA of €24.8 million – 1.7 times more than at the same time last year (€14.8 million).

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

„Vilvi Group“ is currently constructing a €50 million cheese plant in Bauska, Latvia – the largest investment project in its history. According to Mr Bertašius, the plant should be operational by early 2026.