Uelzena sees milk supply grow
Total milk supply for the German Uelzena Group reached a new record of 629m kg last year.
Growth in raw milk alone was 12%. The increased delivery volumes are due to the addition of new milk producers as raw milk suppliers in the regional environment.
Sales of the Uelzena Group amounted to €648 million and thus could not quite match the above-average revenue situation of 2017.
As payment for raw milk, the producers were able to get 0.3368 cents per kg in 2018. The level was thus just under three cents per kilogram below the previous year.
Large investments were made as part of the modernisation and expansion program. This led to an increase in total assets of approximately €210m for 2018 compared to €175m in 2017.
The equity ratio reached a very good 37% despite strong growth in total assets.
“An adequate equity ratio is important for financing and implementing our extensive, multi-year investment program,” said CEO Jörn Dwehus. Net income amounted to almost €9m.
Sales of milk powder, cheese and specialty products developed positively and often reached production capacity limits.
In 2018 several investment projects were completed, including modernisation measures in milk drying for an increase in capacity and production as well as a significant reduction in air and noise emissions.