Aurivo saw its revenues increase by 34% in 2022 to reach a record €764m, while its operating profit was up by 41.2%, from €12.6m in 2021 to €17.8m last year
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A significant bounce in powder and butter sales helped reinforce western-based Aurivo’s financial results for 2020.
Aurivo’s dairy ingredients business is mainly made up of butter and powder sales.
Aurivo produces a lot of enriched powders, which essentially are dried milk with the fat percentage increased with the addition of varying levels of vegetable oil.
Aurivo sell this product in Africa, which is a growing market. Once it lands in Africa, the powder is sold in small local stores.
Turnover in dairy ingredients jumped from €172m to €198m
The African consumer takes the powder home where water is added again. This product is used as a substitute for milk in Africa, where they can’t get ‘normal’ milk as Irish consumers know it.
Dairy processor Aurivo achieved a record sales turnover in 2020 despite what was a “uniquely challenging year”.
Aurivo has announced its full-year financial results for the year ended December 31, 2020.
The co-op hit a sales turnover of €488.7 million in 2020, an increase from €446.8 million in 2019. It delivered an operating profit (before one-off exceptionals) of €8.5 million, increased from €3.2 million in 2019.
Group earnings (before interest, taxes, depreciation, and amortisation) was €15.1 million, an increase from €8.9 million in 2019.
The closing net debt position was significantly improved at €2.2m from €18.8 million in 2019.
Aurivo businesses
Aurivo’s
Consumer Foods business unit recorded a sales turnover of €96.9 million, an increase from €95.1 million the previous year.
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