One of Lithuania's largest milk processing groups, „Vilvi Group“, made a net profit of 25.7 million euros last year, 1.7 times more than the year before.

The Group generated consolidated revenues of EUR 245.4 million for the year, up 16.6% from EUR 210.5 million in 2023, „Vilvi Group“ said on Friday on the „Nasdaq“ Vilnius Stock Exchange.

The group's earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 60% to EUR 33.6 million.

„Vilvi Group“'s sales in Lithuania were down 12% last year to €32.2 million, but grew 37% to €141 million in the EU and 2% to €72.1 million in the rest of the EU.

In 2024, the Group's companies will buy 351.6 thousand tonnes of baseline milk – 0.1% less than in 2023.

The Group exports its products to more than 60 countries.

„Vilvi Group“'s CEO and shareholder Gintaras Bertašius has previously said that he promises a dividend to shareholders this year, which he says will account for 25 percent of the net profit for 2024. 

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