Dairy co-op Lakeland Dairies, which operates cross-border on the island of Ireland, has reported pre-tax profits of €25.2m for 2025, despite a more volatile second half in global dairy markets.
Group revenues rose 10% to €1.93bn in 2025 from €1.75bn in 2024, which the co-op says reflects higher milk volumes, a more balanced product mix and continued growth in value-added market segments. Profit before tax increased by 19% to €25.2m, up from €21.3m in 2024. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was €71.8m, up from €73.3m in 2024. When exceptional costs are excluded from both years the EBITDA is up 10% year-on-year.
The balance sheet is strong, the report added, with shareholder funds of €290.9m, providing the capacity to continue investing in operational capability and higher-value market opportunities.
A record 2.14bn litres of high-quality milk was processed by the co-op, supplied by over 3,000 farm families across 17 counties on the island of Ireland, contributing €1.05bn in milk payments throughout its operating region.
Lakeland also highlighted progress on its long-term strategy, Foundations for a Better Future, with a focus on “innovation, further added-value, strengthening operational efficiency and deepening customer relationships in global markets”.
During the year, the co-op completed several major capital investments including a new liquid milk processing facility in Killeshandra and new, high-capacity milk intake facilities in Bailieboro, Co. Cavan. These projects have enhanced operational efficiency and overall processing capacity, it says.
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The business also continued to build on the strategic benefits of the De Brandt texturised butterfat operation acquired in 2024, strengthening Lakeland Dairies’ presence in premium, technically demanding dairy market segments across Europe.
“2025 was a year of contrasts for dairy farmers and the wider dairy sector,” said chair Niall Matthews. “Strong production conditions and firm markets in the first half were followed by a more challenging second half as global milk supply increased and markets softened. Despite this volatility, Lakeland Dairies delivered a strong performance and continued to make meaningful progress in strengthening our co-operative.
“Our farm families produced a record volume of high-quality milk and our teams across the business worked collectively to manage that supply effectively and deliver strong financial results, supporting as competitive as possible a milk price in line with market returns. We also continued to invest in our future with major processing developments and a strong focus on sustainability, customer relationships and supporting the next generation of dairy farmers.”
CEO Colin Kelly added: “2025 was another very solid year for Lakeland Dairies with revenues and profitability increasing while we continued to prioritise competitive market returns and disciplined reinvestment in the business. While dairy markets remain cyclical and global conditions shifted during the year, our strategy is designed to strengthen resilience and ensure we deliver sustainable value for our dairy farm families.
“Our focus continues to be on converting the excellent milk produced by our farmers into higher-value products for our customers. Through stronger customer integration, continued operational investment and disciplined cost management, we are building a resilient, sustainable and competitive co-operative for the long term.
“I am confident that the strategic progress made in recent years positions Lakeland Dairies strongly for the future as we continue our journey towards sustainable prosperity for our dairy farm families.”
