Milkiland EBITDA down 12% in 2013
KYIV. March 7 (Interfax) - Milkiland, a dairy group with assets in Ukraine, Russia and Poland, saw earnings before taxes, depreciation and amortization (EBITDA) fall tentatively 12% in 2013 to 33 million euro, according to unaudited data, the company said.
The company said that its revenue grew by 19%, to 341 million euro, mainly fuelled by dynamic growth of sales in whole-milk products segment (a rise of 22%) both in Russia and Ukraine (by 24% and 18% respectively). In the cheese segment the group achieved moderate single digit growth by 7% on the back of the restoration of export sales of this product to Russia (a rise of 2% in volume).
The group's management considers 2014 as a year of further steady development of Milkiland. In the current year we follow the next strategic priorities: development of Milkiland Ukraine business through improving the product mix towards high value added products, reconstruction of the production facilities; development of Milkiland-Agro business with a target to achieve the profitability of the agricultural segment, including the fine tuning of the operations of the first section of new dairy farm in order to increase an in-house milk production by c. 40%; development of Milkiland EU business with a target to secure the profitability of its business, including by focusing the efforts on the increase in the capacity utilization of Ostrowia up to 50% and the promotion of sales of cheese under the traditional Ostrowia brand in the Polish market, getting an access to Russian export market after the obtainment of the permission from the Russian veterinary authorities.
Milkiland group of companies is one of the five largest producers of dairy products on the markets of Russia and Ukraine. In Ukraine, the group operates ten factories producing a wide range of dairy products, including cheese, fresh dairy products and butter, which are sold under the trademarks of Dobriana and Koliada.