Ornua delivers ‘another robust’ performance in 2024
Kerrygold’s growth in the United States continued at pace with the brand reaching a record number of households in 2024, securing its position as the clear number two butter in the market
Print22 April 2025
Ornua Co-operative recorded another robust performance in 2024, in the face of significant change in the external environment, its latest financial results show.
According to the Kerrygold-owner’s 2024 annual report, group turnover was relatively stable year-on-year and high historically, at €3.4 billion, representing another solid performance.
Group earnings before interest, taxes, depreciation, and amortisation (EBITDA) and Operating Profit (pre-Ornua Value Payment), climbed by 10.5% and 11.8% respectively to reach €165.5 million and €130.5 million, during the period.
Ireland’s largest exporter of Irish dairy products noted that the results reflect a ‘strong trading performance amid volatile conditions driven by the impact of cost inflation and a pressurised milk supply’.
In a statement, incoming CEO Conor Galvin, said: “Guided by our purpose of creating value for the Irish dairy farming community that Ornua represents, our teams around the globe responded well to difficult market conditions to deliver for our Member Co-operatives, our customers, and the consumers that enjoy our products.”
Kerrygold’s growth
Kerrygold’s growth in the United States continued at pace with the brand reaching a record number of households in 2024, securing its position as the clear number two butter in the market.
Despite the continued impact of food cost inflation in many major markets, Kerrygold strengthened its position as Ireland’s most
successful food export, driven by strategic growth, investment in innovative new products, and highly impactful brand activations across multiple territories, the company added.
In total, over 12 million retail packs of Kerrygold butter and cheese were sold globally every week in 2024.
“The continued strength of Kerrygold’s performance ensures we can deliver on our purpose of creating value for Irish dairy farming families through the products we bring to the world,” he added.
Ornua Ingredients
Ornua’s Ingredients division continued to nurture partnerships with key customers around the world, strengthening routes to value and unlocking new opportunities.
This performance, in a tough market environment, ‘showed the resilience of the business, the advantages of our diverse product portfolio, and the hard-earned trust its customers have in Ornua’s innovation capabilities, its understanding of their needs,
and its service delivery’.
“We have continued to build an innovation culture internally within our Ingredients division through cross-functional projects
and knowledge-sharing across geographies,” Galvin said.
“During the year we held our second annual Global Innovation Forum in Moorepark, Co. Cork, where colleagues from across Ornua convened to share insights and showcase cutting-edge new product development (NPD) projects we are leading with our customer partners in international markets.”
‘Supply and demand challenge’
In an environment where milk expansion has slowed, ‘innovation holds the key to resolving the supply and demand challenge and unlocking future value growth opportunities’.
“Ornua has a strong innovation and NPD platform which we are focused on further developing,” he concluded.
Read more: Ornua delivers turnover of €3.4 billion, up 36.7%, in ‘uniquely challenging year’
ShelfLife reporter
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