BRIEF-Milkiland FY 2015 net loss widens to 72.8 mln euros YoY – eDairyNews
Countries Europe Ukraine |3 mayo, 2016

Foreing trade | BRIEF-Milkiland FY 2015 net loss widens to 72.8 mln euros YoY

May 2Milkiland NV :

* Said on Saturday FY 2015 revenue was 191.4 million euros ($219.40 million) versus 288.7 mln euros year ago

* FY 2015 net loss was 72.8 mln euros versus loss of 71.8 mln euros year ago

* Total 2015 whole-milk products volume sales decreased by 10 percent to 105.1 mln euros

* In 2015 reported a drop in the cheese sales in volume terms by about 22 percent on y-o-y basis that was triggered by about 40 percent decline in cheese sales volumes in Russia due to Russian dairy import restrictions

* Major factors influencing Milkiland FY 2015 results were: continued stagnation of consumer markets and free fall of local currencies in Russia and Ukraine, decline in global prices for dry milk commodity products and trade restrictions between Russia and other world

* In 2016 plans to start an export of several types of high value-added products to the Ukrainian market, such as cheese with white and blue mould

* Also in 2016 aims to further develop local distribution network in Poland and also find the new export possibilities within and outside the EU

* In 2016 plans to finish the negotiations with the syndicate of international banks and sign the loanrestructuring agreement with the banks representing the syndicate, namely UniCredit Bank Austria AG and AO Raiffeisenbank

Source text for Eikon:

Further company coverage:

($1 = 0.8724 euros) (Gdynia Newsroom)

Source: Reuters
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