Ornua, Ireland’s largest exporter of dairy products and owner of Kerrygold, has today (Wednesday, April 15) published its operating and financial results for the 12 months ending December 27, 2025.

The co-op has said that there was a solid trading performance with group turnover of €3.5 billion, marginally up year-on-year.

Group EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) and operating profit grew 3.6% and 4.7% to €171.4 million and €136.6 million respectively.

Over €1.8 billion in Irish dairy products was purchased from member cooperatives.

€74.3 million in premiums and bonuses was paid to member co-ops for product supplied in the year (Ornua Value Payment), according to the financial results.

€481.5 million in working capital facilities was provided to member co-ops in 2025.

Ornua and Kerrygold

Kerrygold surpassed the $1 billion retail sales milestone in the US for the first time and reached more households globally than ever before, Ornua has outlined.

Over 14,000 containers of Irish dairy products were shipped globally.

Ornua also recorded an 8.5% reduction in Scope 1 and 2 emissions compared to 2024, representing a total decrease of 39.6% from its 2020 baseline.

CEO, Ornua Conor Galvin said: "I am pleased to report a solid performance from the business in 2025, a complex year in which we delivered continued growth across key metrics despite challenging global market conditions.

"Ornua purchased over €1.8 billion in premium Irish dairy from our member cooperatives, providing a consistent and profitable route-to-market, while delivering on our core purpose of creating value for Irish farm families.

"Purchases were further supported by an Ornua Value Payment of €74.3 million paid to members for product supplied in 2025," he added.

According to the CEO, the brand's continued success demonstrates the world-class quality of Irish grass-fed milk, the strength of Ornua's talented global team and network, and the capabilities of our Irish dairy processors and farm families.

Turbulent year for global dairy markets

Global dairy markets experienced fluctuating supply levels and shifting demand patterns, according to the Ornua financial report.

At the same time at home, processors and producers felt the impact of this volatility, in addition to uncertainty around regulatory developments and unpredictable weather conditions.

Ornua said its priority has been to support farmers' long-term viability through "robust value creation".

Global milk supply expanded much more strongly than expected during 2025, rising by 2.5%, with all major regions contributing to growth.

Higher EU‑27 yields, supported by favourable conditions early in the year and improved farm margins, drove increased production of cheese, butter, and skim milk powder.

While global dairy demand remained generally firm, momentum softened through the summer as European retail growth slowed, exports eased, and foodservice demand lagged, according to the Ornua report.

With supply outpacing demand, dairy commodity availability increased and prices fell sharply towards the end of 2025.

Financial performance

Against this backdrop, Ornua outlined that its group turnover was slightly ahead year-on-year at €3.5 billion, while group EBITDA and operating profit, pre Ornua Value Payment, were also up at €171.4 million and €136.6 million respectively.

Central to this performance, according to the co-op, was the ability of Ornua’s teams to successfully navigate a challenging global trading environment, including renewed tariff pressures in the US.

Value to Irish farming families

Purchases of premium Irish dairy from member cooperatives amounted to over €1.8 billion in the year.

The Ornua Value Payment paid to member co‑ops for product purchased in the year amounted to €74.3 million – up €9.1 million on 2024 – of which €69.7 million was charged to the group income statement in the year.

Ornua said it also continued to support the working capital requirements of its member cooperatives with a facility of €481.5 million provided during 2025.

Commercial performance

In the US, growth momentum remained strong as Kerrygold surpassed the $1 billion retail sales milestone for the first time early in the year.

The brand continues to hold market-leading positions in many major international markets: Number one butter brand in Ireland and Germany; Number two butter brand in the United States; Number two block butter brand in the UK market.

Ornua has stated that Kerrygold’s innovation platform has become a critical engine to unlocking future growth, enabling the brand to enter new segments, develop new formats, and meet evolving consumer needs.

Kerrygold introduced 16 new products and product extensions globally in 2025 including a new range of butter blends, Kerrygold cheese snacking sticks, an expansion of the brand’s cream cheese range, and new flavoured butter sticks including cinnamon and sugar.

Ornua outlook

Recognising global challenges, shifting consumer expectations, and rapid technological change, Ornua outlined that it has introduced a new strategic growth plan to guide the business through to 2030.

The strategy focuses on strengthening Ornua’s leadership in premium dairy through commercial execution, enabled by operational excellence and a more connected global operating model.

Although the near‑term outlook remains uncertain amid geopolitical tensions, trade disruption, and energy market volatility, Ornua believes it is in a position to deliver sustainable growth in 2026.