Tirlán said its revenue in 2024 increased by 5% to €2.66bn, while operating profit was 2% lower at €67.2m. The co-op described the results as “strong” after a challenging start to the year.

The milk pool finished the year at 3.028bn litres, back approximately 1% from 2023 levels. Tirlán’s intake of green grains reached almost 179,000t.

The co-op said that it sold 377,000t of ingredients and that over 40,000t of cheese was produced at the new joint venture facility Kilkenny Cheese, established in partnership with Dutch family-owned business Royal Aware.

A cost reduction programme was implemented during the year, which saw once-off costs of €9.5m.

Tirlán said the ongoing cost savings from this programme will be significant, delivering a positive annual return compared with the once-off upfront costs.

Well positioned

Commenting on the 2024 results, Tirlán CEO Seán Molloy said: “Our organisation today stands strong, with a robust balance sheet, well-invested high-tech processing facilities, dedicated farm families and a talented workforce. We are well positioned and a trusted partner to deliver on the growing demand for dairy and grains around the world.”

Chair John Murphy said: “2024 was a year of two distinct halves for our co-op and our members.

"We supported our members financially with a member support package of €30m offered in the face of significant weather challenges in the first half of the year that curtailed milk supply and resulted in the late sowing of crops.

"Dairy markets strengthened as the year progressed, with milk supplies finishing strongly and competitive prices for both milk and grain.”

See this week's Irish Farmers Journal for full analysis of the results and an interview with management at the co-op.