See our 2023 Annual Results
Carbery Group are pleased to share our Annual Results for 2023. Our CEO Jason Hawkins comments “Our business performance overall was resilient in an unpredictable market, and we continue to invest and to progress our sustainability goals.
Three Strategic Platforms, One Global Focus
Carbery Group is recognised as a leading international manufacturer of speciality food ingredients, flavouring systems and as an award-winning cheese producer.
We are owned by four Irish dairy co-operatives, employ over 1,000 people, and operate from 12 facilities worldwide, including Ireland, UK, Italy, USA, Brazil, Singapore, Indonesia and Thailand.
Dairy
Our West Cork dairy facility in Ballineen is one of the largest single cheese producing plants in Ireland and the UK.
With a capacity of over 300mt of natural cheese per day, we process all of the milk supplied by our local farmer shareholders.
We produce more than 20 market-leading cheeses for retail, food manufacturing and food service customers throughout the world.
We also provide a range of dried dairy products.
Nutrition
In our Nutrition business, we develop, produce and market an advanced range of whey proteins, tailored to meet the demands the infant, performance and clinical nutrition markets.
We invest in pioneering research on the role of hydrolysed dairy proteins in improving muscle health, mobility, insulin sensitivity, appetite control and immune protection, enabling our customers to develop new foods to enrich lives.
Taste
Our Flavours division, Synergy Flavours, is a leading global manufacturer and supplier of flavourings, natural extracts and essences.
With extensive experience across food, beverage and nutrition, we develop high quality taste solutions to inspire innovation.
We excel in capturing the freshest, most authentic flavours from nature, through proprietary extraction technologies, enabling our customers to deliver maximum flavour impact for tastier foods.
Our Financial Performance
| 2023 (€m) | 2022 (€m) | 2021 (€m) | 2020 (€m) | 2019 (€m) | |
|---|---|---|---|---|---|
| Revenue | 616.6 | 700.8 | 535.7 | 459.5 | 434.1 |
| EBITDA* | 46.4 | 52.1 | 50.1 | 44.9 | 44.3 |
| EBITA* | 25.5 | 32.8 | 31.2 | 28.3 | 30.2 |
| Operating Profit (EBIT) | 19.6 | 26.4 | 25.3 | 24.2 | 24.3 |
| Net Debt | 60.4 | 71.8 | 79.6 | 57.8 | 47.2 |
