Aurivo the globally focused Agri business headquartered in the Northwest of Ireland, today announced full-year financial results for the year ended 31 December 2024.
Despite the very difficult weather conditions on farm in the early part of 2024, the ongoing geopolitical issues and inflationary pressures, Aurivo delivered a very strong financial performance for 2024. Group turnover increased by 13.5% on the prior year at €725.1m which was underpinned by a strong operational performance across each of the Co-op’s business units. Operating profit for the year was at €17m, an increase of 236.1% on the previous year (2023: €5.1m). EBITDA (earnings before interest, taxes, depreciation, and amortisation) for 2024 was €27.3m, an increase of 94.8% on 2023.
Raymond Barlow, Chairman of Aurivo said: “A key highlight for the year was the resilience of our milk supply, with our farmers navigating the challenge of adverse weather conditions for a large part of the year. We were happy to have been in the position of maintaining a competitive average milk price for our suppliers over the course of the year. “Cognisant of the challenges that face the wider economy, we are prepared to adapt to same. Through prudent management, ongoing strategic investments and a steadfast commitment to supporting our farmer members, we will continue to position ourselves for long-term growth and resilience.”
| Financial Performance: | 2024 | 2023 | % Change |
| €m | €m | ||
| Group turnover | 725.1 | 638.6 | 13.5 |
| Gross profit | 144.7 | 121.6 | 19 |
| Operating expenses | 128.1 | 117.1 | 9.5 |
| Operating profit | 17.0 | 5.1 | 236.1 |
| EBITDA | 27.3 | 14.0 | 94.8 |
| Milk stability fund | 3.0 | 0.0 | |
| Net debt | 11.5 | 26.5 | |
| Debt/EBITDA times | 0.4 | 1.9 | |
| Capital investment | 8.8 | 17.8 | |
| Acquisition | 0.0 | 8.8 | |
| Shareholder funds | 108.7 | 98.1 | 10.9 |
| Average milk price | 52.9cpl | 43.1cpl | 22.5 |
| Consumer Foods turnover | 158.3 | 137.5 | 15.1 |
| Dairy Ingredients turnover | 289.6 | 236.3 | 22.5 |
| Agri Business turnover | 159.9 | 161.7 | (1.1) |
| Marts’ turnover | 117.3 | 103.1 | 13.8 |
Rymond Barlow, Chairman of Aurivo said: “A key highlight for the year was the resilience of our milk supply, with our farmers navigating the challenge of adverse weather conditions for a large part of the year. We were happy to have been in the position of maintaining a competitive average milk price for our suppliers over the course of the year. “Cognisant of the challenges that face the wider economy, we are prepared to adapt to same. Through prudent management, ongoing strategic investments and a steadfast commitment to supporting our farmer members, we will continue to position ourselves for long-term growth and resilience.”
