Ornua, Ireland’s largest exporter of dairy products and owner of Kerrygold, has today (Wednesday 15 April) published its operating and financial results for the 12-month period ending 27 December 2025.
The cooperative said there had been a strong trading performance with group sales reaching €3.5 billion, up slightly year-on-year.
Group EBITDA (earnings before interest, taxes, depreciation and amortization) and operating profits grew by 3.6% And 4.7% to 171.4 million euros and 136.6 million euros, respectively.
More than €1.8 billion of Irish dairy products were purchased from member cooperatives.
€74.3 million in premiums and bonuses were paid to member cooperatives for products supplied in the year (Ornua value payment). According to financial results.
€481.5 million in working capital facilities have been provided to member cooperatives in 2025.
Ornoa and Kerrygold
Kerrygold has surpassed $1 billion in retail sales in the United States for the first time and has reached more households globally than ever before, Ornoa said.
More than 14,000 containers of Irish dairy products were shipped worldwide.
Ornua also recorded an 8.5% reduction in Scope 1 and 2 emissions compared to 2024, representing an overall decrease of 39.6% from the 2020 baseline.
Ornoa CEO Conor Galvin said: “I am pleased to report strong performance from the business in 2025, a complex year in which we delivered continued growth across key metrics despite challenging global market conditions.
“Group revenues rose marginally to €3.5 billion, while EBITDA and operating profit, before value payments from Ornoa, also rose, representing a resilient set of results against a backdrop of volatility in global dairy markets.
“Ornua has purchased over €1.8 billion of premium Irish dairy products from our member cooperatives, providing a consistent and profitable route to market, while achieving our core objective of creating value for Irish farm families.
“The purchases were further supported by an Ornua 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.
A turbulent year for global dairy markets
Global dairy markets have seen fluctuations in supply levels and shifting demand patterns, according to Ornoa’s financial report.
At the same time, manufacturers and producers at home have felt the impact of these fluctuations, as well as uncertainty over regulatory developments and unpredictable weather conditions.
Urnoa said her priority was to support farmers’ long-term viability through “strong value creation”.
Global dairy supplies expanded much more strongly than expected during 2025, rising by 2.5%, with all major regions contributing to the growth.
High EU27 productivity, supported by favorable conditions early in the year and improved agricultural profit margins, led to increased production of cheese, butter and skimmed milk powder.
While global demand for dairy products remained broadly flat, momentum eased over the summer as European retail growth slowed, exports declined, and food service demand lagged, according to the Ornoa report.
As supply exceeded demand, the availability of dairy commodities increased and prices fell sharply towards the end of 2025.
Financial performance
Against this background, Ornua explained that its group sales were slightly ahead year-on-year at €3.5 billion, while group EBITDA and operating profit, before value payments from Ornua, also rose to €171.4 million and €136.6 million respectively.
Central to this performance, according to the cooperative, was the ability of Ornua’s teams to successfully navigate a challenging global trade environment, including renewed tariff pressures in the United States.
Valuable to Irish farming families
Purchases of premium Irish dairy products from member cooperatives amounted to more than €1.8 billion during the year.
Ornua payments made to member cooperatives for product purchased in the year amounted to €74.3 million – an increase of €9.1 million on 2024 – of which €69.7 million was charged to the group’s income statement in the year.
Ornua said it also continued to support the working capital requirements of member cooperatives through a €481.5 million facility provided through 2025.
Commercial performance
In the US, growth momentum remained strong with Kerrygold surpassing $1 billion in retail sales for the first time early in the year.
The brand continues to hold market leadership positions in several major international markets: No. 1 butter brand in Ireland and Germany; No. 2 butter brand in the United States; The second butter brand in the UK market.
Kerrygold Source: Ornoa
Ornua said Kerrygold’s innovation platform has become a critical driver for 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 snack sticks, an expansion of the brand’s cream cheese range, and new flavored butter sticks including cinnamon and sugar.
Ornoa predictions
Recognizing global challenges, changing consumer expectations, and rapid technological change, Ornoa said it has introduced a new strategic growth plan to guide the business through 2030.
The strategy focuses on enhancing Ornua’s premium dairy leadership through commercial execution, enabled by operational excellence and a more globally connected operating model.
Although the near-term outlook remains uncertain amid geopolitical tensions, trade disruption and energy market volatility, Ornoa believes it is positioned for sustainable growth in 2026.
