Rokiskio Suris (RSU1L) H2 2024 earnings summary

Executive summary

• Achieved record turnover and highest financial results in company history for 2024, with significant profit growth year-over-year despite a decrease in raw milk processed.

• Export volumes increased both in value and quantity, with 67% of sales from exports, up from 64% in 2023.

• Employee welfare initiatives included a 6% average salary increase and continued investment in training and development.

• Major investment projects completed: new storage for long-ripened cheese, curd production expansion, and launch of two significant projects to maintain regional leadership.

• Sustainability strategy advanced, focusing on responsible resource use, energy efficiency, and social initiatives.

Financial highlights

• Sales revenue reached €370.3 million, up 21.7% from €304.3 million in 2023.

• Net profit was €22.8 million, a 40.6% increase from €16.2 million in 2023.

• EBITDA rose to €37.3 million (10.07% margin), up from €29.9 million (9.83% margin) in 2023.

• Gross profit margin was 13.74% (2023: 14.11%).

• Basic earnings per share increased to €0.73 (2023: €0.46).

• Return on equity (ROE) was 15.82% (2023: 11.16%); return on assets (ROA) was 12.65% (2023: 9.46%).

• Liabilities/equity ratio improved to 0.46 (2023: 0.55).

Outlook and guidance

• 2025 focus: timely completion of planned investments, reliable partnership with milk suppliers, and continued employee development.

• Main investments in 2025: expansion of hard cheese production, equipment upgrades, and sustainability initiatives.

• Strategic plan targets 5% annual increase in milk processed and 3% net annual yield.