Pieno Zvaigzdes (PZV1) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached €101.9 million, up from €98.1 million year-over-year.

• Net profit for H1 2024 was €6.2 million, compared to €7.5 million in H1 2023.

• EBITDA for H1 2024 was €9.7 million, down from €11.2 million in H1 2023.

• The company remains one of Lithuania's largest dairy processors, exporting to EU, CIS, and Asia.

Financial highlights

• Gross profit for H1 2024 was €25.5 million, up from €24.7 million year-over-year.

• Operating cash flow for H1 2024 was €6.7 million, compared to €9.98 million in H1 2023.

• Investments in property, plant, and equipment totaled €2.7 million in H1 2024.

• Dividend payout in H1 2024 amounted to €6.3 million.

• No own shares were acquired, transferred, or annulled during the period.

Outlook and guidance

• Targeted full-year 2024 revenue is €205.9 million.

• The company continues to invest in efficiency and growth initiatives.