Carbery Group, the West Cork based ingredients, flavours, and cheese producer, has reported a positive financial performance for 2022.
It said its group turnover for the year increased by 31% to just under €700.8m.
Carbery said its group EBITDA (earnings before interest, tax, depreciation (net of grants), amortisation of goodwill and other intangibles and exceptional items) increased by 4% to €52.1m.
Carbery said its milk volumes at the Carbery Ballineen plant decreased to 598 million litres, down 2%.
Carbery is owned by four Irish co-operatives, Bandon, Barryroe, Drinagh and Lisavaird, and employs almost 1,000 people, with 1208 local farmer suppliers.
It operates from 12 locations including Ireland, the UK, the US, Brazil, Italy, Singapore, Indonesia and Thailand and supplies more than 50 countries worldwide.
In today’s results statement, Carbery said its cheese business continued to perform strongly last year.
It produced cheese for 12 months of the year, and of the 63,000 tonnes produced in 2021, 12,000 of this was mozzarella, produced through the expanded facility in Ballineen.
It noted that price inflation and rising energy costs were challenges that had to be tightly managed.
In the second full year of mozzarella production, it said that all product was placed in the market.