Valio products account for 25% of Finland’s total food exports, 2025 results note

Finnish dairy Valio’s business environment in 2025 was shaped by the geopolitical situation and uncertainties in the economy and global trade, the company says. Although the business environment was challenging, Valio’s net sales grew to €2,422.7 million and surpassed the 2024 net sales record (€2,278.5 million). The milk return, a measure of profitability, remained at a very high level.

In 2025, the value of Valio’s exports from Finland amounted to approximately €580.8 million, representing about 25% of Finland’s total food exports. Valio’s biggest export products are industrial milk powder and industrial butter, which food industry customers use in their own production. In particular, the high global market price of butter boosted the value of exports.

Global market prices have a significant impact on Valio’s profitability, as nearly 40% of Valio’s net sales come from export markets. In 2025, Valio also gained several new customers for its speciality milk powders, and Valio plans to increase exports of these products in line with its strategy.

Valio’s financial performance is measured by the milk margin and milk return. The milk margin amounted to €1,045.3 million (982.5 million), and the milk return was 56 cents per litre (52.2 c/l).

“We exceeded our targets in several business areas and in the operations of our subsidiaries. The growth of Valio’s brands and the strong performance in exports offset the otherwise moderate consumer demand in Finland. Net sales and profitability were also driven by successful product portfolio development and the strong performance of our own operations. During the year, we made several decisions that strengthen our productivity and competitiveness in the long term. At the same time, we unfortunately had to make decisions regarding the closure of production plants in Vantaa and Helsinki and the relocation of production to Joensuu and Riihimäki. A notable success in 2025 was the expansion of the Food 2.0 research and development programme’s ecosystem to a network of over 200 partners. Valio’s 120th anniversary was celebrated in many ways at various locations. We also celebrated our 120-year history nationwide in many ways,” CEO Annikka Hurme noted.

Valio is owned by around 3,000 dairy farms through cooperatives, and Valio pays its profits to dairy farms through the cooperatives. The cost situation for dairy farms was better than during the Covid-19 pandemic and the war in Ukraine, when prices for fertilizers, energy, feed, and other farm inputs rose to record highs. However, at the end of 2025, costs were still about 10-15% higher than at the beginning of 2021.

Valio’s domestic net sales were €1,522.1 million, and Valio’s net sales from international operations totalled €900.7 million. “In our home markets in Finland, Sweden, and Estonia, both net sales and profitability developed favourably. Growth was driven particularly by snack products, such as PROfeel protein snacks, as well as Valio Gefilus and Balans products, which support wellbeing. The Valio Aimo wholesale business also grew, and Aimo’s role as a partner to professional kitchens and wholesale customers was further strengthened,” Hurme added.

The PROfeel range reached net sales of €100 million, and the launch of PROfeel puddings in the United States exceeded expectations. In addition to Finland, PROfeel products are now sold in 15 countries, including the Baltics, Sweden, Poland and Spain.

In Estonia, the new Alma brand quark bar was well received, and cheese exports continued to grow. consumers showed particular interest in Middagsmagi meal prep products and PROfeel snacks. Valio started selling infant formula in China at the end of 2024 after obtaining export licenses for two consumer brands. In addition to baby food, sales of other speciality milk powders in China also increased.

During the year, Valio advanced several production-related development projects and investments. Work continued on the €60 million investment to modernise the cheese production process at the Lapinlahti production plant. The project is scheduled for completion in 2026. The Seinäjoki powder plant renovation and refurbishment project, scheduled for completion in 2026, also continued. In Estonia, a new cheese maturation warehouse was completed at the Võru plant, improving the competitiveness and profitability of the international cheese business.

Preparations were also made for previously decided production transfers that aim to streamline the production structure. Vantaa’s cheese production and the Kauhava plant operations, which Valio acquired from Raisio plc in March 2025, will continue in Joensuu.

The Food 2.0 research and development programme, launched in 2024 and partially funded by Business Finland, has grown into an extensive ecosystem of over 200 partners in just two years. The five-year programme is developing solutions for building a resource-wise and sustainable food system while promoting the competitiveness of Finnish food exports.