Tirlán reports rise in revenues to €2.7bn

Ireland's largest dairy and grain processor saw milk supply recover in the second half of 2024

Tirlán processed a third of the Irish milk pool at 3.028bn litres.

Ireland's largest dairy processor Tirlán reported a 5% rise in revenues last year to €2.66bn.

The food and nutrition giant said that after navigating a challenging start to the year due to weather and commodity markets, its operating profit in 2024 remained consistent at €67.2m.

The farmer-owned co-op paid more than €1.5bn to farms for milk and grain. The Avonmore brand-owner also made Share Interest (dividend) payments totalling €7.1m, with more than 4,500 farmers receiving €5.9m as part of the 2024 Trading Bonus Scheme.

Tirlán Chairperson John Murphy said 2024 was a year of two distinct halves. "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," he said.

"Dairy markets strengthened as the year progressed, with milk supplies finishing strongly and competitive prices for both milk and grain. Over €1.5bn was paid out to farm families for milk and grain, demonstrating the importance of the agriculture sector as an indigenous Irish employer and driver of the rural economy."

At 3.028bn litres, Tirlán processed a third of Ireland's entire milk pool. The figure was 1% below 2023 levels. It purchased and processed almost 179,000 tonnes of grain. 

Following the spinout with Glanbia, Tirlán members approved the distribution of 15m Glanbia plc shares to members worth €148.2m on track for completion in the second half of May. It brings the total value of spin-outs since 2012 to almost €600m.

Alongside its dairy products, Tirlán introduced new products, including Avonmore High Protein soups. Internationally, it has expanded its consumer portfolio with the Avonmore Professional UHT cream range growing in Asia and entering seven new markets.

More than 40,000 tonnes of continental cheese were produced at the new joint venture facility, Kilkenny Cheese, established in partnership with Dutch family-owned business Royal A-ware entered its commissioning phase in 2024.

Tirlán sold more than 377,000 tonnes of ingredients, with increased demand for its Promiko range, Truly Grass Fed (TGF) whey ingredients range and new pastry butter in high-end bakeries across Europe.