See our 2024 highlight
Annual Report 2024
Welcome to our Annual Review, which provides a summary of our environmental, social and economic activities and performance in 2024. Performance this year was strong across all three of our business divisions, with significant growth driven by the very strong performance of our Taste Division in several markets. Commitment to progress on our sustainability targets, across our sites and also with our suppliers, continued to be of the highest importance in 2024.
Our Purpose: Enriching lives, together
Our Mission: Dedicated to building a better future for people and planet through the creation of healthier, tastier and sustainable foods.
Business
Performance
Growth across all business divisions
Our business performance was strong in 2024 with growth across all divisions of our business.
Embedding
Digital
A business powered by data
We continued to bring our ambition of being a data-driven business to life by embracing AI, upskilling our people and investing in technology and capability in digital.
People
& Culture
Doing our best work
Our strength is the people who work with us, and in 2024 we focused on supporting them, creating clarity across the business and equipping our leaders with the skills they need to bring our business into the future.
Delivering for Shareholders
Adding value
In 2024, we again delivered a leading milk price in addition to paying over €4.7m in a sustainability bonus, and added €8.6m to our Stability Fund to secure future milk price for shareholders.
Building for the future
We have built a business model designed to deliver the best returns possible to our farmer shareholders.
As Chairperson of Carbery Group, I am proud to see our business continue to grow and deliver for our farmer shareholders. I would like to thank the farmers of West Cork, who continue to support the growth and investment strategies of Carbery, while supplying world-class milk for our products
Vincent O’Donovan
Carbery Chairperson
2024 was a year of strong, balanced performance across every part of our business. I am pleased to report revenue growth driven by positive dairy markets but also very strong organic growth and performance across our global business
Jason Hawkins
Carbery CEO
FINANCIALS
REVENUE
€668m
(+8%)
EBITDA
€52.1m
(+12%)
EBITA
€30.5m
(+20%)
OUR NEW SUSTAINABILITY STRATEGY
ENVIRONMENT
Minimising environmental impact, promoting a shift to a sustainable business and economy.
• Emissions reduction
• Energy management
• Water stewardship
• Waste & circular economy
• Sustainable agriculture
• Biodiversity & ecosystems
SOCIAL
Focusing on relationships an responsibilities across our workforce, customer and communities to ensure positive impact and an inclusive culture.
• Ethical employer
• People in the value chain
• Community outreach & support
SUSTAINABLE GROWTH
Ensuring long-term business growth through investment in innovative sustainable solutions and supply chains.
• Consumer health and nutrition
• Innovation & sustainable product solutions
• Animal health & welfare
• Sustainable supply chain
• Collaboration with strategic partners
ENVIRONMENTAL
We are committed to a programme of emissions reduction, water optimisation and responsible waste anagement across our organisation.
Carbon Emissions
(-3.09%)
since 2023
This is our total 2024 Scope 1 and 2 emissions – those attributed to operations and fuel use.
On farm emissions
(-1.56%)
since 2023
This figure is for Scope 3 emissions from our farms only, excludes other supply chain.
Waste to landfill
+42.44%
Water
+11.3%
Annual Report 2024
See how Carbery performed in 2024 and how we’re building for the future.
Download
