Cross-border dairy co-operative Lakeland Dairies has reported positive annual results for 2025, marking another strong year for the business despite a more volatile second half in global dairy markets.
Group revenues increased by 10% to €1.93bn in 2025 from €1.75bn in 2024, reflecting higher milk volumes, a more balanced product mix and continued growth in value-added market segments. Net profit before tax increased by 19% to €25.2m, up from €21.3m in 2024. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was robust at €71.8m compared to €73.3m in 2024. When exceptional costs are excluded from both years the EBITDA is up 11% year-on-year.
Lakeland Dairies retains a strong balance sheet with shareholder funds of €290.9m, providing the capacity to continue investing in operational capability and higher-value market opportunities.
The co-operative processed a record 2.14bn litres of high-quality milk supplied by over 3,000 farm families across 17 counties on the island of Ireland, contributing €1.05 billion in milk payments throughout its operating region.
2025 saw continued progress in the co-operative’s long-term strategy, Foundations for a Better Future, focused on innovation, further added-value, strengthening operational efficiency and deepening customer relationships in global markets. During the year, Lakeland Dairies 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.
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.
Lakeland Dairies’ Chairperson, Niall Matthews said:
“2025 was a year of contrasts for dairy farmers and the wider dairy sector. 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.”
Lakeland Dairies’ Group Chief Executive Officer, Colin Kelly said:
“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.”
