Ornua has reported an ‘excellent’ trading performance, with group turnover up by 6.9%, to €2.5 billion, in the year to 26 December 2021.
According to the dairy firm’s latest trading update, the group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) and operating profit were up by 0.7% and 1.3%, respectively, during the period.
John Jordan, CEO, Ornua, commented, “This performance delivers on our commitment to maximise returns to our member cooperatives and to the 14,000 farmers who supply them, with a 13.5% increase in our Ornua Value Payment in the year.”
It was another milestone year for Kerrygold, with volume growth up by 12% on 2020 and over 11 million packets of butter and cheese sold globally each week.
Jordan said, “Kerrygold continues to be the fastest-selling brand on supermarket shelves in Germany and is the number-two butter brand in the US – a market serving 330 million consumers. Our ingredients business also performed strongly, as we completed the acquisition of US cheese ingredients business Whitehall Specialities, Inc.
“The addition of these four facilities across Wisconsin and Pennsylvania unlocks substantial growth in both the US and in other markets, as we enhance our innovation and manufacturing capabilities, as well as adding 450 new skilled professionals to our workforce.”
Sixty Years In Business
This year, the dairy cooperative marks 60 years in business.
“Our 60 years in business has stood to us in our capacity to respond to change, and to continue to deliver for our customers, colleagues and shareholders. While challenges persist in 2022, we are commercially and strategically well placed to manage their impact on our business, and to continue to return value to our member co-ops and to the Irish farming families that they represent,” Jordan added.
“We have been devastated by the tragic events that have unfolded in Ukraine and recognise the plight of the Ukrainian people at this very difficult time. As a long-standing organisation with a global footprint, we acknowledge the impact of world events on our customers and on the communities we serve, and we will continue to support all our stakeholders in navigating the knock-on effects of this terrible situation.”
The company noted that the advantages and fundamental issues of the Ornua business were evident in 2021 and will remain important, as it grapples with the challenges of 2022 and beyond.
The expansion of Kerrygold Park, in Mitchelstown, Co. Cork, commenced this year, and the company noted that this facility will play ‘an essential role in enabling the long-term growth of the brand for the benefit of Irish farming families and the wider Irish economy’.