News Milk
Ice cream maintains Milcobel's results
Within the Milcobel Group, it was mainly the ice cream activities that performed particularly well last year. This while regular dairy activities saw a decline. This is evident from the company's filed annual report.
Read this article?
Become a subscriber and get instant access
Choose the subscription that suits you
Earlier this year Milcobel reported that it had already achieved a lower total turnover last year than in 2022 and that the company had also ended up in the red. This was partly due to problems caused by a software project. An explanation shows that this led to all kinds of additional problems at the Bruges branch, as a result of which no cheese could be delivered for months, which also resulted in a loss of customers.
Dairy turnover also declined as a whole, from €1.049 million in 2022 to €901 million in 2023. Ice cream turnover, on the other hand, increased from €317 million to €405 million. The return also increased. According to Milcobel, this was due to an increasing demand for private label ice cream, which was at the expense of branded products. A record amount of 190 million liters of ice cream was sold.
Milcobel would still like to sell the ice cream division.
Despite the fact that Milcobel achieved lower turnover last year and suffered losses, its equity still increased, according to the annual report. This appears to be the result of a revaluation of €14,5 million. At the same time, the total debts also increased by almost €16 million. In an explanation, and possibly also a warning, the company points out the sharply increased interest costs related to the debt burden.