25
APRIL, 2018
Full Year Financial Results
for year ended 31 December 2017
Strong business growth and financial performance
Wednesday 25th April 2018: Aurivo, the globally focused agribusiness headquartered in the north west of Ireland, today announced financial results for the financial year ended 31 December 2017.
For the business of Aurivo, it was a year of strong business development and financial performance in a volatile year, marked by historic butter prices internationally.
Financial performance:
Aurivo has reported a Group operating profit (before exceptional items) of €3.90m, an increase of 10% on the outturn for 2016 (2016: €3.57m). Turnover for the year was €426.4m, an increase of 9% on the previous year (2016: €391.0m). The performance illustrates the strength of Aurivo’s underlying business and that of its operational and commercial platforms. Net debt in the period reduced significantly from €16.6m in 2016 to €5.7m in 2017. Aurivo continued its capital programme in 2017, investing a further €4m in the business bringing total investment in the Co-Operative to €28.7m over the past seven years.
Operational highlights:
- Strong balance sheet that positions Aurivo for future growth
- Delivery of shareholder value in 2017, greatly assisted by the rally in milk prices up to Q3
- 420m litres of milk processed – a record year and an increase of 8% on 2016.
- Commenced five-year GMP investment programme in upgrade to Aurivo’s Dairy Ingredients facility in Ballaghaderreen.
- Third and strongest Fixed Milk Price Scheme launched – reaffirming Aurivo’s commitment to supporting suppliers through strong Co-Op performance.
- Market returns and business performance allowed Aurivo pay a competitive milk price for 2017
- Active year for new product development and innovation across the business.
- Unfavourable weather conditions in latter half of 2017 presented fodder issues for farmers. Aurivo was instrumental in highlighting issue and played a significant role in assisting farmers.
- Very strong year for Consumer Foods business with increased sales across milk, butter and health & nutrition
- Improved positions and sales for both Agri and Marts business divisions.
- Completion of Engage 2022, a five-year strategic plan that will ensure Aurivo’s continued growth.
Commenting on the financial performance of Aurivo and the outlook for the Co-Operative:
Aaron Forde, Chief Executive of Aurivo said, “2017 was a year of achievement based on meeting the needs and requirements of our members and customers, and a year of carrying out the necessary planning and development work to put in place the foundation blocks to ensure Aurivo’s continued growth and success.
“While milk supply growth continues in 2018, the current year will be one with significant volatility. Brexit is an uncertainty for our business and the wider sector. We continually monitor the situation and continue to put in place plans through our Brexit team to ensure we are as ready as possible for the inevitable fallout from the UK’s exit of the EU. Ultimately, the sector needs the Government to get the best possible deal for Irish food and agribusiness.”
Pat Duffy, Chairman of Aurivo said, “Aside from issues outside of our control, we have a real sense of renewed confidence for 2018 and beyond. This is a truly efficient and effective business that is delivering for all its stakeholders. We have an ambitious plan for the future growth of the business, and the operational plan to deliver that is now well underway.”
2017: Click here to view
Latest News
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Aurivo House
Finisklin,
Sligo, F91 N968
Phone: 071 9186500
Email: [email protected]
Aurivo Agribusiness
Finisklin,
Sligo, F91 N968
Phone: 071 9160883
Email: [email protected]
Web: homeland.ie
Web: nutrias.ie
Aurivo Consumer Foods
Finisklin,
Sligo, F91 N968
Phone: 071 9160883
Email: [email protected]
Web: connachtgold.ie
Aurivo Dairy Ingredients
Ballaghaderreen,
Co. Roscommon, F45 WK33
Phone: 094 9860114
Email: [email protected]
Aurivo House
Finisklin, Sligo.
Phone: 071 9186500 | Fax: 071 9185239
Email: [email protected]
| Title | Address | Description |
|---|---|---|
Aurivo House | Finisklin Business Park, Finisklin, Sligo, Ireland | Aurivo House |
Aurivo Dairy Ingredients | Aurivo Dairy Ingredients, Lung, Ballaghaderreen, Co. Roscommon, Ireland | Aurivo Dairy Ingredients |
Aurivo Animal Feeds | Unit 7A, The Mill Business Park, Dublin Rd, Kilcolman, Ballaghadereen, Co. Roscommon, Ireland | Aurivo Animal Feeds |
Homeland, Ballaghaderreen | 4 College Ct, Ballaghaderreen, Co. Roscommon, F45 DR13, Ireland | Address: Homeland, Ballaghaderreen, Roscommon - F45 F684 Opening Hours: |
Homeland, Ballina | Crossmolina Rd, Ballina, Co. Mayo, Ireland | Address: Crossmolina Road, Co. Mayo, F26 K288 Opening Hours: |
Homeland, Castlebar | Glencar, Fortfield, Moneenbradagh, Castlebar, Co. Mayo, Ireland | Address: Co. Mayo, F23 H283 Opening Hours: |
Homeland Plus, Westport | 5 Castlebar Rd, Carrowbeg, Westport, Co. Mayo, Ireland | Address: Lodge Road, Westport, Co. Mayo, F28 XH51 Opening Hours: |
Homeland, Swinford | 2 Fraunhill, Swineford, Co. Mayo, Ireland | Address: Co. Mayo, F12 WF98 Opening Hours: |
Homeland Agri, Achonry | Achonry, Co. Sligo, Ireland | Address: Achonry, TUBBERCURRY CO. SLIGO F56 R275 Opening Hours: |
Homeland Plus, Deep Water Quay, Sligo | Icos House, Finisklin Rd, Cartron, Sligo, Ireland | Address: Deep Water Quay, Sligo, F91 HR53 Opening Hours: |
Homeland Agri, Athleague | R362, Co. Roscommon, Ireland | Address: Co. Roscommon, F42 WY64 Opening Hours: |
Homeland Agri, Castlerea | Longford House, Longford, Castlerea, Co. Roscommon, Ireland | Address: Co. Roscommon, F45 A403 Opening Hours: |
Homeland, Rathscanlon | R294, Rathscanlan, Co. Sligo, Ireland | Address: Tubbercurry, Co. Sligo, F91 EP83 Opening Hours: |
Homeland Agri, Riverstown | Cuiltylough, Riverstown, Co. Sligo, Ireland | Address: Co. Sligo, F52 W957 Opening Hours: |
Homeland Agri, Ballymote | R293, Keenaghan, Co. Sligo, Ireland | Address: Co. Sligo, F56 XW26 Opening Hours: |
Homeland Agri, Skreen | N59, Co. Sligo, Ireland | Address: Co. Sligo, F91 RP44 Opening Hours: |
Homeland, Claremorris | 2 Clareville, Clare, Co. Mayo, Ireland | Address: Co. Mayo, F12 XW26 Opening Hours: |
Homeland, Ballinrobe | Abbey View, Abbey Rd, Friarsquarter West, Ballinrobe, Co. Mayo, Ireland | Address: Co. Mayo, F31 VK49 Opening Hours: |
Homeland Agri, Kinlough | 2 Spa Brae, Kinlough, Co. Leitrim, Ireland | Address: Co. Leitrim, F91 RH22 Opening Hours: |
Homeland Agri, Kilbarron | Nagin House, Creevy, Ballyshannon, Co. Donegal, Ireland | Address: Cashelard, Ballyshannon, Co. Donegal, F94 YK33 Opening Hours: |
Homeland Agri, Athlone | Moydrum Rd, Blyry Upper, Athlone, Co. Westmeath, Ireland | Address: Moydrum Business Park, Junction 9, Athlone, Co. Westmeath, N37 FY05 Opening Hours: |
Homeland Agri, Gurteen | R293, Co. Sligo, Ireland | Address: Co. Sligo, F56 E956 Opening Hours: |
Homeland Agri, Killala | Quay Rd, Townplots East, Co. Mayo, Ireland |
Address: The Quay, Killala, F26 X363 Opening Hours: |
Homeland Agri, Boyle | Station Rd, Termon, Co. Roscommon, Ireland | Address: Co. Roscommon, F52 KN28 Opening Hours: |
Homeland, Ballyhaunis | N83, Kilmannin, Co. Mayo, Ireland | Address: Co. Mayo, F35 Y429 Opening Hours: |
Homeland Agri, Easkey | R297, Co. Sligo, Ireland | Address: Castletown, Easkey, Co. Sligo, F26 D681 Opening Hours: |
Homeland Agri, Kiltoghert | R299, Co. Leitrim, Ireland | Address: Carrick-on-Shannon, Co. Leitrim, N41 V677 Opening Hours: |
Homeland, Mohill | 1 Hyde St, Mohill, Co. Leitrim, N41 V6T4, Ireland | Address: Co. Leitrim, N41 VP77 Opening Hours: |
Homeland, Letterkenny | Middle Rd, Ballyboe Lisnenan, Letterkenny, Co. Donegal, Ireland | Address: Middle Road, Ballyraine, Letterkenny, Co. Donegal Opening Hours: |
Homeland, Lifford | Letterkenny Rd, Lifford, Co. Donegal, Ireland | Address: Lifford, Co. Donegal, F93 TC97 Opening Hours: |
Homeland Agri, Creeslough | Sue's Cottage, Rosscad, Creeslough, Co. Donegal, Ireland | Address: Creeslough, Co. Donegal, F92 YH22 Opening Hours: |
Homeland Agri, Ardara | Corner House, The Diamond, Drumbaran, Ardara, Co. Donegal, Ireland | Address: Ardara, Co. Donegal, F94 FT59 Opening Hours: |
Homeland Agri, Omagh | 10 Dromore Rd Retail Park, Omagh BT78 1RE, UK | Address: Dromore Road, Co. Tyrone Opening Hours: |
Homeland, Kerrykeel | R246, Co. Donegal, Ireland | Address: Kerrykeel, Co. Donegal, F92 F766 Opening Hours: |
Homeland Agri, Longford | Cartrongeeragh Business Park, Athlone Road, Cartronageeragh, Co. Longford, Ireland | Address: Athlone Road, Longford Opening Hours: |
Homeland Belmullet | Áras Mhaoilchiaraín, Chapel St, Belmullet, Co. Mayo, Ireland | Address: Belmullet, Co. Mayo, F26 Y6P5 Opening Hours: |
Homeland Agri Ballinfull | 1, Carrigeens, Ballinfull, Co. Sligo, F91 K5D7, Ireland | Address: Ballinfull, Co. Sligo, F91 CR29 Opening Hours: |
Aurivo Livestock Mart Ballymote | Laburnum Lodge, Fairgreen Rd, Rathnakelliga, Ballymote, Co. Sligo, Ireland | Manager: Stephen Hannon |
Aurivo Livestock Mart Ballinrobe | Abbey St, Friarsquarter West, Co. Mayo, Ireland | Manager: Tom Mc Guire |
Aurivo Livestock Mart Balla | N60, Co. Mayo, Ireland | Manager: Michael Murphy |
Aurivo Livestock Mart Mohill | 1 Cappagh, Mohill, Co. Leitrim, Ireland | Manager: Stephen Hannon |
