Vilkyskiu pienine (VLP1L) Q3 2024 earnings summary

Executive summary

• Launched a €50 million investment project in Latvia to expand cheese production, with completion targeted for 2025.

• Extended and issued multiple food safety and quality certificates across subsidiaries.

• Rebranded international products under the VILVI name and refreshed packaging.

• Ranked 3rd among Lithuania's most sustainable food and beverage brands in 2024.

Financial highlights

• Q3 2024 revenue rose 18.0% year-over-year to €181.5 million.

• EBITDA increased 67.6% year-over-year to €24.8 million, with EBITDA margin up to 13.7%.

• Net profit for the nine months reached €19.9 million, up 88.8% from the prior year.

• Net financial debt increased 45.7% year-over-year to €17.5 million.

• Purchased milk volume grew 7.6% year-over-year to 264,034 tons.

Outlook and guidance

• Profit growth driven by higher export sales prices for dry milk products and fats.

• Largest investment in group history expected to boost cheese production capacity by 2025.