Ornua, the co-operative that markets and sells dairy products on behalf of its members, announced little-changed turnover of €3.4bn for 2023.

Operating profit (before exceptional items and value payment to members) was 8.2% lower at €116.8m.

The operation paid €1.6bn to its supplier members for 374,600Mt of dairy product during the year. That amount paid was €700m lower than in 2022, a reflection of the pull-back in dairy prices during the year.

In addition, the Ornua value payment to member co-ops rose by €2m to €74.5m.


There were two major developments at the operation during the year. The completion of the €40m expansion of the Kerrygold butter facility in Mitchelstown means that capacity there is now approximately one million packs per day.

CEO John Jordan stepped down. His replacement, former Dairygold CEO Conor Galvin, was announced in recent months and will take up the role in the coming weeks.

Interim CEO Donal Buggy said: “Ornua responded dynamically to significant instability in the global trading environment by remaining focused on our strategy and on our commitment to deliver for our customers, our member co-operatives and Irish farming families.

“Looking ahead, while there is continued uncertainty around the impact of macroeconomic factors on already challenging global market conditions, we remain optimistic about the future and focused on achieving sustainable growth in key markets.”

Ornua said that for the rest of 2024, global milk supply looks likely to remain relatively flat, which should support the market. The co-op added that more certainty around demand is needed for commodity pricing to firm in the second half of the year.

In 2023, Ornua introduced a new five-year strategic plan 'path to prosper', which aims to drive continued sustainable growth for the operation.

See this week’s Irish Farmers Journal for an interview with Donal Buggy and chair Aidan O’Driscoll.