Carbery Group, the West Cork based ingredients, flavours, and cheese producer, has reported higher revenues and group EBITDA for 2025 and said it continued to support farmer shareholders with a leading milk price.
Carbery said its revenue increased by 8% to €723m last year, adding that this "strong performance" allowed it set aside a further €3m contribution to its Stability Fund to support milk price during times of volatility.
Its group EBITDA (Earnings before interest, tax, depreciation (net of grants) amortisation of goodwill and other intangibles and exceptional items) increased by 1% to €52.3m.
But it added that its group EBITA decreased by 3% to €29.7m, reflecting weaker dairy market returns in Ireland in the second half of 2025, despite strong underlying performance across the wider business.
It reported operating profits of €23.4m for the year.
The dairy group said that €5.8m was paid to farmers through the FutureProof sustainability bonus in recognition of actions taken on farm, bringing total FutureProof payments since the scheme began in 2022 to €18m. The scheme covered 90% of Carbery's milk pool last year.
Carbery said it processed a total of 608.8 litres of milk through Ballineen last year.
Jason Hawkins, CEO of Carbery Group, said the group delivered strong global business performance in 2025, while continuing to support its farmer shareholders in West Cork.
"We grew revenue and saw strong underlying contributions from our Nutrition, Taste and Dairy businesses, despite a more challenging dairy market environment in the second half of the year. That reflects the strength of our diversified business model and the benefits of continuing to invest in the growth of the business while reducing debt levels," Mr Hawkins said.
"Our Nutrition and Taste businesses delivered significant profit growth in 2025, while our Dairy business also performed strongly. Continued demand in whey protein, particularly across sports, clinical and active nutrition, alongside progress in our global flavours business, helped offset weaker dairy market returns later in the year," he added.
The CEO said that supporting the group's farmer shareholders remains at the centre of everything it does.
"In 2025, we paid a leading milk price, distributed €5.8m through our FutureProof sustainability bonus and made a €3m contribution to our Stability Fund, which will help us support milk price through future periods of market volatility," he stated.
He also said that sustainability remains central to its strategy and Carbery have long-term investment plans to reach net zero across operations.
"While absolute emissions increased in 2025 due to higher production volumes, our emissions intensity continued to improve, and we have made strong long-term progress across our operations and wider value chain," he said.
"Through FutureProof, Farm Zero C and the commitment of our farmer shareholders, we are continuing to make practical progress on emissions reduction, soil health and water quality," he added.
Looking ahead, Jason Hawkins said that while the outlook for dairy markets in 2026 remains challenging, Carbery was confident in the strength of its business and the clarity of its long-term direction.
"We will continue to invest in growth, our people, innovation, digital capability and sustainability, while staying focused on delivering value for our farmer shareholders and customers around the world," he said.
"In the year ahead, we will build on the momentum in our existing business, expanding into new geographies, deepening customer relationships and broadening our customer offering. We will also continue to pursue opportunities to further diversify the business, particularly in areas where our experience and expertise position us to deliver strong long-term returns," he added.
