"Vilvi Group's profit for the year increased 3-fold to EUR 4.9 million

Asociatyvi nuotr. Canva nuotr.

One of Lithuania's largest dairy processing groups Vilvi Group“ earned a consolidated net profit of EUR 4.9 million in January-March this year, 3.3 times more than last year's figure of EUR 1.5 million.

Group revenue grew by 5% in the quarter to €56.2 million (€53.7 million in the first quarter). Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 2.3 times to EUR 6.3 million (EUR 2.8 million), the „Vilvi Group“ reported on the „Nasdaq“ Vilnius Stock Exchange.

The highest revenue growth was recorded in the European Union (EU) – 30%, in Lithuania – 3% and in other markets it declined by 20%.

Greeting milk sales revenues grew by 83%, but fresh dairy products dropped by 24%, dry dairy products by 14% and cheese and cheese products by 1%. In January-March, 87,500 tonnes of milk were purchased, up 20% on last year's figure (73,100 tonnes). 

At the end of March, the „Vilvi Group“ employed 940 people. The Group operates Vilkyškių pieninė, „Modest“, „Kelmės pieninė, „Kelmės pienas“, „Pieno logistika“, and the Latvian „Baltic Dairy Board“.