Kri-Kri Milk Industry (KRI) Q3 2024 earnings summary

Executive summary

• Achieved sales of €207.5 million for the nine months ended 30 September 2024, up 17% year-over-year, driven by both ice cream and dairy segments.

• Net profit rose to €36.4 million, a 20% increase compared to the same period last year.

• Strong cash flow from operations of €28.5 million, despite increased investment and dividend payments.

Financial highlights

• Revenue increased to €207.5 million from €176.7 million year-over-year.

• Gross profit reached €69.4 million, up from €62.7 million.

• EBITDA was €43.7 million, compared to €41.5 million in the prior year.

• Earnings per share rose to €1.1020 from €0.9184.

• Operating cash flow was €28.5 million, down from €35.1 million due to higher working capital needs.

Outlook and guidance

• Management expects continued growth, supported by strong demand in both ice cream and yogurt segments.

• No material impact anticipated from new accounting standards adopted in 2024.