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Record year for Irish dairy processor Ornua

17 June 2022

The company had an operating profit up 1.3%

Ornua, Ireland’s largest exporter of Irish dairy products, published its operating and financial results for the twelve months ending 26th December 2021.

The company performed exceptionally well in terms of trading performance with Group turnover up 6.9% to €2.5 billion. Kerrygold volume growth was up 12%, with over 11 million packets of butter and cheese sold globally each week. Group EBITDA and operating profit were up 7% and 1.3% respectively.

Irish dairy farmers received strong returns across 389,000MT of Irish product purchased, delivering an additional €78 million Ornua Value Payment to member suppliers, up 13.5% year-on-year.

Ornua Ingredients doubled its footprint in the US market with the acquisition of Whitehall Specialties Inc, unlocking significant growth and innovation capacity.

Approval granted for a €40 million expansion of Kerrygold Park to meet the growing global demand for Kerrygold.

Additionally, bank facilities totalling €580 million were successfully refinanced until 2026, supporting Irish dairy industry growth.

Ornua also launched an ambitious five-year CSR & Sustainability strategy incorporating environmental, animal welfare, and community targets.

“Ornua maintained a strong, stable, and sustainable performance year-on-year, as we marked our 60th year in business," said John Jordan, CEO of Ornua. "Despite persistent challenges, we are pleased to report a 6.9% increase in turnover and a 1.3% increase in operating profit for 2021."

"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," he added. "While challenges persist in 2022, we are commercially and strategically well-placed to manage their impact on our business and continue to return value to our member co-ops and the Irish farming families that they represent."



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