Brief: Milkiland FY 2015 net loss widens to 72.8 mln euros YoY

Mlk Foods Public

02/05/2016 08:40

May 2(Reuters) - Milkiland NV  MLK.WA : 
    * Said on Saturday FY 2015 revenue was 191.4 million euros  
($219.40 million) versus 288.7 mln euros year ago 
    * FY 2015 net loss was 72.8 mln euros versus loss of 71.8 
mln euros year ago 
    * Total 2015 whole-milk products volume sales decreased by 
10 percent to 105.1 mln euros 
    * In 2015 reported a drop in the cheese sales in volume 
terms by about 22 percent on y-o-y basis that was triggered by 
about 40 percent decline in cheese sales volumes in Russia due 
to Russian dairy import restrictions  
    * Major factors influencing Milkiland FY 2015 results were: 
continued stagnation of consumer markets and free fall of local 
currencies in Russia and Ukraine, decline in global prices for 
dry milk commodity products and trade restrictions between 
Russia and other world  
    * In 2016 plans to start an export of several types of high 
value-added products to the Ukrainian market, such as cheese 
with white and blue mould  
    * Also in 2016 aims to further develop local distribution 
network in Poland and also find the new export possibilities 
within and outside the EU 
    * In 2016 plans to finish the negotiations with the 
syndicate of international banks and sign the loanrestructuring 
agreement with the banks representing the syndicate, namely 
UniCredit Bank Austria AG and AO Raiffeisenbank 
 
     
  
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3035039 
     
 Further company coverage:  MLK.WA   
    
 
 
 
($1 = 0.8724 euros) 
 
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