Aurvio’s revenue declined by 16.4% last year, according to a new report.
The company has stated that 2023 was an extremely challenging year and the wider sector nationally.
The decline was primarily related to the sharp deterioration in dairy prices experienced throughout 2023, a reduction in the volume of external milk processed and a 39% reduction in fertiliser volumes sold.
The business endeavoured to support the milk price throughout 2023 for its dairy farmers, and this gave rise to a significant decline of 71.6% in operating profit in 2023 to €5.1m (FY22: €17.8) and a decline of 43.8% in EBITDA to €14.0m (FY22: €24.9m).
The company still said to have delivered a robust performance, investing a further €26.6m in capital projects.
