How Carbery Group Defied Milk Price Chaos to Crush Revenue Growth – Here’s What You Need to Know!
Ever wonder what it takes for a dairy group to not just weather the storm but actually fatten its coffers while the milk market takes a nosedive? Well, Carbery Group just proved that a little strategic savvy combined with a solid commitment to its farmers can turn a challenging year into a story worth telling. While milk prices dipped in the back half of last year, Carbery didn’t just sit on the sidelines—they bolstered their stability fund by €3 million, throwing a lifeline to their farmer shareholders. That’s not your everyday corporate move; it’s a masterclass in resilience and foresight. Clocking in at €723 million in revenue with an 8% increase, this West Cork powerhouse is doing more than just processing milk—they’re redefining how a diversified business model can thrive amid market turbulence. Curious about how they balance sustainability, innovation, and growth all at once? Let’s dive in. LEARN MORE
Carbery Group has added €3m to its stability fund to support farmer shareholders after growing revenue by 8% last year.
The dairy group supplemented the rainy day fund to assist farmers during as milk prices fell in the second half of last year.
The west Cork company reported revenue of €723m for the full year and group EBITDA of €52.3m, an increase of 1% year-on-year.
Operating profit came to €23.4m and group EBITA, ie operating profit before interest, tax, amortisation of goodwill and other intangibles and exceptional items, decreased 3% to €29.7m, reflecting lower milk prices.
Carbery paid €5.8m to farmers through its FutureProof sustainability bonus in 2025, bringing total payments since 2022 to €18m.
Last year, the scheme covered 90% of Carbery’s milk pool, and the group processed 608.8m litres of milk in Ballineen.
In sustainability, Scope 1 and 2 emissions increased by 3.97% in 2025, driven by higher milk volumes, record production output and higher gas usage in Ballineen compared to 2024.
However, emissions intensity continued to improve, falling 36% since 2020. Carbery has removed 100,993 tonnes of CO2e across its value chain since 2020.
“We delivered strong global business performance in 2025, while continuing to support our farmer shareholders in West Cork,” said Jason Hawkins, CEO of Carbery Group.
“We grew revenue and saw strong underlying contributions from our Nutrition, Taste and Dairy businesses, despite a more challenging dairy market environment in the second half of the year.
“That reflects the strength of our diversified business model and the benefits of continuing to invest in the growth of the business while reducing debt levels.
“Our Nutrition and Taste businesses delivered significant profit growth in 2025, while our Dairy business also performed strongly.
“Continued demand in whey protein, particularly across sports, clinical and active nutrition, alongside progress in our global flavours business, helped offset weaker dairy market returns later in the year.”
During 2025, the Taste business significantly grew profits and reported strong performance across all regions.
The acquisition of SoluTaste in Brazil strengthened the group’s position in South America, while investments across Europe, Asia and the US also supported continued growth.
The nutritional ingredients business also maintained strong momentum across sports, infant and clinical nutrition, and demand for whey protein was stimulated by interest in GLP-1 weight loss medications.
Carbery’s dairy business also made progress on the back of solid commercial performance and continued strategic investment.
Despite milk prices falling in the back half of 2025 due to an oversupply of milk, record mozzarella production bolstered returns across the group’s cheese portfolio.
“While the outlook for dairy markets in 2026 remains challenging, we are confident in the strength of our business and the clarity of our long-term direction,” said Hawkins.
“We will continue to invest in growth, our people, innovation, digital capability and sustainability, while staying focused on delivering value for our farmer shareholders and customers around the world.
“In the year ahead, we will build on the momentum in our existing business, expanding into new geographies, deepening customer relationships and broadening our customer offering.
“We will also continue to pursue opportunities to further diversify the business, particularly in areas where our experience and expertise position us to deliver strong long-term returns.”
Carbery operates 12 facilities in eight countries (Ireland, UK, USA, Brazil, Italy, Singapore, Indonesia, and Thailand) and supplies products to 50 countries worldwide.
The group employs 1,049 and has 1,127 local farmer suppliers.
(Pic: Supplied)
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