Lakeland Dairies reports 10% jump in turnover to €1.93bn for 2025
Lakeland Dairies today (Wednesday, April 15) reported an increase in turnover to €1.93 billion for 2025 up from €1.75 billion in 2024.
The 10% jump in revenue growth was chiefly driven by higher milk volumes, from the co-op's 3,000 farm families, which grew to a record 2.14 billion litres last year.
The increase in volumes was thanks to the "economics of producing milk" last year and also a good spring in 2025.
This 5.7% increase in milk volumes in turn delivered a 19% jump in pre-tax profits for Lakeland Dairies which grew to €25.2 million in 2025 - up from €21.3 million a year earlier.
According to the co-op's latest annual report published today EBITDA (earnings before interest, tax, depreciationand amortisation) "was robust" hitting €71.8 million - despite failing to meet the record level of €73.3 million reported in 2024.
Lakeland Dairies said that when exceptional costs are excluded from both years the EBITDA is up 11% year-on-year.
The co-op exited 2025 with shareholder funds sitting at €290.9 million, reflecting a enviable level of financial stability.
According to Colin Kelly, the co-op's group chief executive officer, Lakeland Dairies is "increasing value from the milk pool".
Kelly said the co-op is now moving "from a model primarily designed for milk volume throughput to one that competes for value-added returns in global markets".
He told Agriland that because Lakeland Dairies operates in a "very volatile environment" it must have a strong balance sheet and the 2025 results show the co-op's resilience.
"We're in a good position for future investment but it also puts us in a good position weather any challenges that might be coming in 2026.
"2025 seems a long time ago, given the events of the world locally but also crucially from a global perspective," Kelly added.
€1bn paid to farmers
According to Lakeland Dairies 2025 annual report 54% of the co-op's revenue went directly to farmers last year.
The co-op paid its farmer suppliers a total of €1.05 billion in 2025.
According to its group CEO Lakeland Dairies is clear about its "responsibility".
He said its role "is to convert the excellent raw material, that we receive in milk, into sustainable prosperity for dairy farmers, not only in strong markets, but also through difficult cycles".
Kelly told Agriland: "We're a dairy co-op, we're owned by our farmers.
"The biggest expense the business has is the milk check, and we're like probably no other business in that we want to pay as much as we possibly can for our raw material.
"Most other businesses are looking to procure their raw materials as cheap as they can".
He said the co-op paid a "competitive milk price" to its farmers last year and the €1.05 billion paid to suppliers was worth €4 billion to €5 billion to rural Ireland both North and South.
Lakeland Dairies estimates that its average milk price last year was 53.2c/L - compared to 52.3c/L in 2024.
The co-op's 2025 annual report also reflects on its long-term strategy - Foundations for a Better Future - which is focused on strengthening the business overall.
Last year, Lakeland Dairies also completed a number major capital investments including a new liquid milk processing facility in Killeshandra and high-capacity milk intake facilities in Bailieboro, Co. Cavan.
The co-op also upgraded its UHT blending capacity which increased its ability to produce a broader variety of products at scale.
In its 2025 annual report Lakeland Dairies outlined that its Food Ingredients division remains the largest contributor to its revenue. This division was "particularly important" last year delivering revenues of €1.26 billion - compared to €1.1 billion in 2024.
The co-op continued last year to integrate the Belgian-based butterfat business, De Brandt which it acquired in 2024 into its operations, which it said strengthens the co-op's position "inspecialised markets and reduces reliance on commodity products".
Meanwhile its Foodservice and Consumer Foods division also delivered a strong performance in 2025 reporting revenues of €544 million compared to €531 million in 2024.
Agribusiness
The co-op's Agribusiness division also boosted its revenues to €119 million - which represented an increase of €6 million on the previous year.
According to Lakeland Dairies animal feed sales saw growth of 4.5% year on year to hit 282,000 tonnes.
Overall Colin Kelly, the co-op's group chief executive officer, believe the 2025 results show a "strong performance" in an unpredictable and volatile year.
