Ornua delivers strong performance for 2019
Ornua, Ireland’s largest exporter of dairy products, published its operating and financial results for year ended 2019.
Ornua delivered a very strong trading performance in 2019 with group turnover up by 11.5%, reaching €2.3 billion, and operating profit of €49.1 million up by 21.5%. This performance was achieved against a backdrop of significant external challenges and places Ornua in a strong financial position to manage the unprecedented challenges presented by Covid-19.
Operation highlights included: Ornua’s Kerrygold brand became Ireland’s first food brand to reach €1 billion in annual retail sales, 340,000 metric tons of Irish co-ops’ dairy products were purchased, to the value of over €1 billion, €18.5 million in premium for the Kerrygold product was paid to member co-ops, and the members’ bonus was €26m, up 37% year-on-year.
Ornua also provided €350m in working capital facilities to member co-ops, purchased 400 million litres of milk equivalent under fixed price contracts from members, and opened a €30m pizza cheese production facility in Ávila, Spain.
“Our key focus for 2020 is to support our 2,400 strong team, our customers, our member co-ops and farmers as we face the challenges of Covid-19 together. We are firmly focussed on protecting the health and safety of our people, keeping our factories running safely to serve our customers and ensuring markets for Irish dairy remain open,” notes John Jordan, CEO of Ornua.