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Thursday, 25.04.2024, 19:20
Estonia: Revenue of Tere, Farmi Piimatoostus dairy group totals EUR 108 mln in 2018
"The most notable vehicle for development for Tere and Farmi Piimatoostus in the past year was export, the share of which
in the company's total revenue amounts to 19.4%," said Katre Kovask, chairman of the
management board of Tere AS and Farmi Piimatoostus AS.
The company's export revenue totaled 21 mln euros, growing
16.8w% on year.
"We exported dairy products to a total of 20 different
countries in the world. The most notable achievements of the year include the
start of export to Sweden's largest commercial chain ICA as well as relaunching
export to Japan. In the fresh dairy products sector, both with reference to our
brand's as well as private label products, Finland and Latvia continue to be
our largest export partners," Kovask said.
Kovask added that the company has overcome its past
financial difficulties and active day-today operations have been restored,
which is also reflected in positive economic performance.
The company hopes 2019 will bring about the approval of Tere's recovery plan, which will soon
have been stuck in judicial proceedings for three years.
"We are optimistic looking into he future. Our aim is
to further increase export in fresh dairy products as well as in the commodity
sector," Kovask said.
Kovask added that when it comes to the local market,
Estonian milk is of high quality and local dairy products are undoubtedly among
the best ones in Europe.
Tere AS and Farmi Piimatoostus AS is an Estonian
dairy group, the joint market share of which on the fresh dairy products'
market is approximately 40% and which stocks up on up to 450 tons of milk
daily. The company's range includes roughly 400 products. There are altogether
572 people working at the four production units and the central office of the
group.