Vilvi Group Reports Revenue Growth Amidst Declining EBITDA in Q1 2026
Vilvi Group, a prominent dairy producer in the Baltic region, has announced its financial results for the first quarter of 2026, showcasing a substantial growth in revenue. The company reported a consolidated revenue of €87.0 million, marking a 22.4% increase compared to the €71.1 million recorded during the same period in 2025. This growth is attributed to strategic business expansions, including recent acquisitions.
Despite the impressive revenue figures, Vilvi Group experienced a decline in its EBITDA, which fell by 50.2% to €3.0 million. This figure does not account for the preliminary negative goodwill of €5.5 million related to the acquisition of Marijampolės Pieno Konservai. Nevertheless, the group's net profit rose significantly by 25.7% to €5.1 million, up from €4.0 million in the first quarter of the previous year.
The volume of milk purchased by Vilvi Group during the first three months of 2026 increased by 54.2%, reaching 156,000 tonnes. This rise in milk volume is expected to support the company's ambitious growth plans. Vilvi Group anticipates a revenue increase of approximately 50% for the entire year of 2026, projecting total revenue to reach around €430 million.
To support this growth, Vilvi Group has recently opened a new cheese factory in Bauska, Latvia. The facility, which represents an investment exceeding €60 million, is expected to contribute annual revenue of approximately €100-120 million once it reaches its full operational capacity.
The group's current daily milk processing capacity stands at around 1,900 tonnes, including skimmed milk concentrate. Vilvi Group aims to produce approximately 160,000 tonnes of various dairy products throughout 2026. Despite these expansions, the company has indicated that its production facilities are not yet operating at full capacity, suggesting the potential for future revenue growth to reach as high as €600 million annually.
Vilvi Group comprises several entities, including Vilkyškių Pieninė, Modest, Kelmės Pieninė, Kelmės Pienas, Pieno Logistika, Marijampolės Pieno Konservai, and the Baltic Dairy Board in Latvia, highlighting a diversified portfolio in the dairy industry.
