Milkiland, a dairy group with assets in Ukraine, Russia and Poland, saw a net loss of EUR 2.52 million in H1 2018 compared with net profit of EUR 1.57 million a year ago.

According to a report of the group on the website of the Warsaw Stock Exchange (WSE), consolidated revenue in January-June 2018 fell by 11.1%, to EUR 66.15 million, and earnings before interest, taxes, depreciation and amortization (EBITDA) – by 29.3%, to EUR 3.5 million.

Milkiland saw EUR 1.74 million of operating loss compared with operating profit of EUR 1.16 million a year ago.

Gross profit fell by 20.2%, to EUR 11.31 million.

Whole-milk dairy revenue fell by 17% year-over-year, to EUR 32.9 million, while cheese and butter revenue grew by 17%, to EUR 24.25 million, revenue of the ingredients segment fell by 35%, to EUR 9 million.

In H1 2018, the group cut sales in Russia by 17%, to EUR 40.1 million, increased them in Ukraine by 4.6%, to EUR 17.71 million and in Poland by 35.1%, to EUR 7.43 million.

Milkiland group of companies is one of the largest dairy producers in the Ukrainian market. Its production facilities in Ukraine, Russia, Poland can process 1.33 million tonnes of milk per year.

In Ukraine, Milkiland Group owns ten plants producing a wide range of dairy goods, including cheese, fresh dairy products and butter sold under the Dobriana and Koliada trademarks.