Vilkyskiu pienine (VLP1L) Q2 2024 earnings summary

Executive summary

• Consolidated sales turnover reached EUR 117 million in H1 2024, up 13% year-over-year.

• Net profit rose to EUR 10.5 million, a 113% increase compared to H1 2023.

• EBITDA amounted to EUR 13.4 million, up 74% year-over-year.

• 86% of sales were exports to over 60 countries, with main markets in the EU and Middle East.

Financial highlights

• Gross profit margin improved to 13.9% from 9.8% in H1 2023.

• EBITDA margin increased to 11.4% from 7.4% year-over-year.

• Net profit margin rose to 8.9% from 4.7% in H1 2023.

• Net profit per share reached EUR 0.88, up from EUR 0.41.

• Return on equity (ROE) improved to 16.2% from 9.7%.

Outlook and guidance

• Largest investment project in company history launched: EUR 50 million for new cheese production in Latvia, to be completed by 2026.

• Project financed by own funds, loans, and EUR 8.5 million from Latvian government.

• Continued focus on innovation, sustainability, and expanding international presence.