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 sports 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
Aurivo invests to create most sustainable liquid milk facility at its Killygordon site
Investment allows Aurivo to significantly reduce on-site fossil fuel consumption by some 80%.
Official Launch of Aurivo’s Dryer Facility Investment
On Friday 26th July, Minister for Agriculture, Food and the Marine, Michael Creed TD presided over the official launch of Aurivo’s spray dryer facility in Ballaghaderreen.
Aurivo host ‘Neighbourhood Lunchtime Mile’ as part National Workplace Wellbeing Day
Aurivo, hosted a ‘Lunchtime Mile’ in association with its 2019 charity partner Croí as part of National Workplace Wellbeing Day which took place on Friday 12th April.
Aurivo House
Finisklin,
Sligo.
Phone: 071 9186500
Fax: 071 9185239
Email: info@aurivo.ie
Aurivo Animal Feeds
Ballaghaderreen,
Co. Roscommon
Phone: 094 9860234
Fax: 094 9860238
Email: nutrias@aurivo.ie
Aurivo Consumer Foods
Finisklin,
Sligo.
Phone: 071 9160883
Email: consumerfoods@aurivo.ie
Web: connachtgoldfoods.ie
Aurivo Dairy Ingredients
Ballaghaderreen,
Co. Roscommon
Phone: 094 9860114
Fax: 094 9860157
Email: dairyingredients@aurivo.ie
Aurivo House
Finisklin, Sligo.
Phone: 071 9186500 | Fax: 071 9185239
Email: info@aurivo.ie
| 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 | Contact Name: Francis McDonagh Farm Commercial Specialist: Gary Keane Opening Hours: |
Homeland, Ballina | Crossmolina Rd, Ballina, Co. Mayo, Ireland | Contact Name: Donal Tuohy Address: Crossmolina Rd, Ballina, Co Mayo. Farm Commercial Specialist: Martin Boland Opening Hours:
|
Homeland, Castlebar | Glencar, Fortfield, Moneenbradagh, Castlebar, Co. Mayo, Ireland | Manager: Padraic Prendergast Farm Commercial Specialist: Gary Keane Opening Hours: |
Homeland Plus, Westport | 5 Castlebar Rd, Carrowbeg, Westport, Co. Mayo, Ireland | Contact Name: Gerard Coyne Farm Commercial Specialist: David Whelan Opening Hours: |
Homeland, Swinford | 2 Fraunhill, Swineford, Co. Mayo, Ireland | Contact Name: Alan Gibbons Farm Commercial Specialist: Gary Keane Opening Hours: |
Homeland Agri, Achonry | Achonry, Co. Sligo, Ireland | Contact Name: Darragh Halligan Farm Commercial Specialist: Emer Reilly Opening Hours: |
Homeland Plus, Deep Water Quay, Sligo | Icos House, Finisklin Rd, Cartron, Sligo, Ireland | Contact Name: Lisa Doocey Farm Commercial Specialist: Emer Reilly Opening Hours: Mon - Fri: 9am - 6pm |
Homeland Agri, Athleague | R362, Co. Roscommon, Ireland | Contact Name: Tony White Farm Commercial Specialist: James Kelly Farm Commercial Specialist: Mark Whelan Opening Hours: |
Homeland Agri, Castlerea | Longford House, Longford, Castlerea, Co. Roscommon, Ireland | Manager: John Ruane Farm Commercial Specialist: Colm Duffy Opening Hours: |
Homeland, Rathscanlon | R294, Rathscanlan, Co. Sligo, Ireland | Contact Name: Francis Gallagher Farm Commercial Specialist: Gary Keane Opening Hours: |
Homeland Agri, Riverstown | Cuiltylough, Riverstown, Co. Sligo, Ireland | Contact Name: David Faughnan Farm Commercial Specialist: Emer Reilly Opening Hours:
|
Homeland Agri, Ballymote | R293, Keenaghan, Co. Sligo, Ireland | Contact Name: Anita McNicholas Farm Commercial Specialist: Emer Reilly Opening Hours: |
Homeland Agri, Skreen | N59, Co. Sligo, Ireland | Contact Name: Cathal Kelly Farm Commercial Specialist: Martin Boland Opening Hours: |
Homeland, Claremorris | 2 Clareville, Clare, Co. Mayo, Ireland | Contact Name: Shane Kivlehan Farm Commercial Specialist: David Whelan Opening Hours: |
Homeland, Ballinrobe | Abbey View, Abbey Rd, Friarsquarter West, Ballinrobe, Co. Mayo, Ireland | Contact Name: Michael Canny Farm Commercial Specialist: David Whelan Opening Hours: |
Homeland Agri, Kinlough | 2 Spa Brae, Kinlough, Co. Leitrim, Ireland | Contact Name: Ernan McGarrigle Farm Commercial Specialist: Emer Reilly Opening Hours: |
Homeland Agri, Kilbarron | Nagin House, Creevy, Ballyshannon, Co. Donegal, Ireland | Contact Name: Hugh McGarrigle Farm Commercial Specialist: Emer Reilly Opening Hours: |
Homeland Agri, Athlone | Moydrum Rd, Blyry Upper, Athlone, Co. Westmeath, Ireland | Contact Name: Jack Moran Farm Commercial Specialist: James Kelly Opening Hours: |
Homeland Agri, Gurteen | R293, Co. Sligo, Ireland | Contact Name: Kevin Kane Farm Commercial Specialist: Colm Duffy Opening Hours: |
Homeland Agri, Killala | Quay Rd, Townplots East, Co. Mayo, Ireland |
Contact Name: Darragh McGarry Farm Commercial Specialist: Martin Boland Opening Hours:
|
Homeland Agri, Boyle | Station Rd, Termon, Co. Roscommon, Ireland | Contact Name: Paul Fahy Farm Commercial Specialist: Colm Duffy Opening Hours: |
Homeland, Ballyhaunis | N83, Kilmannin, Co. Mayo, Ireland | Contact Name: Joe Slattery Farm Commercial Specialist: Martin Boland Opening Hours: |
Homeland Agri, Easkey | R297, Co. Sligo, Ireland | Contact Name: Kevin Flynn Farm Commercial Specialist: Martin Boland Opening Hours: |
Homeland Agri, Kiltoghert | R299, Co. Leitrim, Ireland | Contact Name: Ursula Crossan Farm Commercial Specialist: Colm Duffy Opening Hours: |
Homeland, Mohill | 1 Hyde St, Mohill, Co. Leitrim, N41 V6T4, Ireland | Contact Name: Fiona Heslin Farm Commercial Specialist: Colm Duffy Opening Hours: |
Homeland, Letterkenny | Middle Rd, Ballyboe Lisnenan, Letterkenny, Co. Donegal, Ireland | Contact Name: Chris Lyons Farm Commercial Specialist: Johnathan Smyth Farm Commercial Specialist: John Alexandar Opening Hours: |
Homeland, Lifford | Letterkenny Rd, Lifford, Co. Donegal, Ireland | Contact Name: Joe Carlin Farm Commercial Specialist: Johnathan Smyth Farm Commercial Specialist: John Alexandar Opening Hours: |
Homeland Agri, Creeslough | Sue's Cottage, Rosscad, Creeslough, Co. Donegal, Ireland | Contact Name: Dominick Gallagher Farm Commercial Specialist: Johnathan Smyth Farm Commercial Specialist: John Alexandar Opening Hours: |
Homeland Agri, Ardara | Corner House, The Diamond, Drumbaran, Ardara, Co. Donegal, Ireland | Contact Name: Laurence Breslin Farm Commercial Specialist: Emer Reilly Opening Hours: |
Homeland Agri, Omagh | 10 Dromore Rd Retail Park, Omagh BT78 1RE, UK | Manager: Alister Erskine Farm Commercial Specialist: Johnathan Smyth Farm Commercial Specialist: John Alexandar Opening Hours: |
Homeland, Kerrykeel | R246, Co. Donegal, Ireland | Contact Name: Derek Stewart Farm Commercial Specialist: Johnathan Smyth Farm Commercial Specialist: John Alexandar Opening Hours: |
Homeland Agri, Longford | Cartrongeeragh Business Park, Athlone Road, Cartronageeragh, Co. Longford, Ireland | Contact: Padraig Heany Farm Commercial Specialist: James Kelly Opening Hours: |
Homeland Belmullet | Áras Mhaoilchiaraín, Chapel St, Belmullet, Co. Mayo, Ireland | Manager: Stephen Killeen Opening Hours: |
Homeland Agri Ballinfull | 1, Carrigeens, Ballinfull, Co. Sligo, F91 K5D7, Ireland | Contact Name: David Currid 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 |
