Milkiland boosts EBITDA 10% in 2012
KYIV. March 11 (Interfax) - Milkiland Group with assets in Ukraine, Russia and Poland boosted Earnings before taxes, depreciation and amortization (EBITDA) 10% in 2012 to 30 million euro, reads a company report on the Warsaw Stock Exchange (WSE).
According to preliminary unaudited results, the group's revenues grew by around 3% to 287 million euro on the back of higher volumes of whole-milk products sales both in volume and value terms, combined with a decline in cheese and butter segment sales because of the decrease in cheese export to Russia.
The group's gross profit grew by around 16%, to 78 million euro, and the gross margin improved from 24% to 26% on the back of improved efficiency and lower raw milk prices.
As reported, Milkiland Group is a top five CIS diversified dairy producer operating in Russia, Ukraine and Poland. In Ukraine, the group operates 10 plants and offers a wide range of fresh dairy, cheese and butter under the Dobryana and Kolyada brands. In Russia, Milkiland produces dairy foods under the Ostankinskaya brand at OJSC Ostankinsky dairy.