In the first half of this year, one of Lithuania's largest dairy processing groups, „Vilvi Group“, earned earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 13.4 million, 1.7 times more than in the same period of the previous year (EUR 7.7 million).

The Group's net profit in January-June grew 2.1 times to €10.5 million (€4.9 million), while revenue grew by 12.9% to €117.1 million (€103.7 million). The „Vilvi Group“ reported on Friday on the „Nasdaq“ Vilnius Stock Exchange.

The group said it bought 176,400 tonnes of milk in the first six months of the year, up 13.9% (154,800 tonnes), and produced 44,000 tonnes of milk, up 6.5% (86%), which was exported to more than 60 countries.

Gintaras Bertašius, the group's CEO and main shareholder, told BNS earlier that „Vilvi Group“ has already exceeded forecasts this year and expects a good year. He said the good results were due to higher production and sales volumes and higher pricing for export products. 

In 2023, the Group generated an audited net profit of €2.527 million – a 5-fold decrease compared to 2022, and paid a dividend of €3.7 million, compared to consolidated revenues of €212.2 million – a decrease of 9.3% last year.

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

The Group's shares are listed on the Official List of the Stock Exchange.