Pieno žvaigdės, a company engaged in the production of Lithuanian dairy products, presented its second quarter performance results. It turned out that revenues were growing, while profits were shrinking.
Compared to the second quarter of 2023, this company's revenue grew by more than seven percent to 56.358 million. euros. Meanwhile, the cost of sales rose somewhat faster, i.e. by 10.5 percent, which led to a drop in profits.
Milk stars' EBITDA profit during the comparative period shrank by 13.2 percent to 5.727 million. euros, while the net profit fell by about fifteen percent to 3.996 million. euros.
After the first half of this year, the total income of the company engaged in the production of dairy products reaches 101.942 million. euros, or about four percent more than a year ago during the same period. EBITDA profit shrank by 13.7 percent to 9.673 million. euros, and the net – 16.4 percent to 6.244 million. euros.
Since the beginning of this year, the milk star's market value has increased by six percent, and in the last one year – over eighteen percent. For comparison, the value of the OMX Vilnius GI index grew by seven percent and 6.4 percent, respectively.