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The company exports the largest part of its produce and stepped up exports to Libya, Honk Kong and Germany in 2017.

"We sold around 83% of our produce abroad in 2017. The volume of canned milk doubled, especially its exports to Libya, Hong Kong and Germany. We also exported our produce to China for the first time last year," the company said in its annual report to the Center of Registers.

Marijampoles Pieno Konservai posted 95.978 million euros in revenue last year down 3.4% from 99.325 million euros in 2016. And its net profits dropped 48.7% to 2.343 million euros.

The company's turnover in EU countries grew 22% to almost 66 million euros, and jumped 2.2 times in other counties, but plummeted 2.4 times to 16.5 million euros.

Karpis, a company owned by Raimondas Karpavicius, controls 90% of Marijampoles Pieno Konservai shares, and Estonia's Eesti Investeeringud owns 10%.