Milkiland EBITDA for 2018 falls 78 pct

Consolidated EBITDA of Milkiland Group declined in 2018 c. 79 per cent y-o-y to c. EUR 2.1 million.

Group revenue in the reporting period decreased by 5.6 per cent to about EUR 132.59 million, and gross profit reduced 17.67 per cent to EUR 19.51 million.

Milkiland's operating loss stood at EUR 10.12 million (2017: EUR 588 thou.), whereas net loss increased to EUR 20.09 million (2017: EUR 7.35 million).

"In the last year, the Group continued a policy aimed at searching for new markets and geographical diversification of sales. In line with this policy, Milkiland Intermarket continued development of its export business in Israel by selling to this country the Group’s made butter and dry milk products, which passed Kosher treatment. New steps to advance at the Chinese dairy market were made, where the Group started the supplies of butter and SMP to local consumers," the company commented.

On 20 March 2019, Milkiland published an official information regarding the assignment of the indebtedness in the sum of USD 29.29 million under Loan Facility Agreement with the syndicate of international banks, namely UniCredit Bank Austria AG and ZAO Raiffeisenbank (hereinafter “the Syndicate”, “the Facility agreement”) dated 16 December 2011, to a New Lender, namely Swestal Holding Ltd.