News Business
Irish joint venture A-ware immediately profitable
The Irish joint venture between A-ware and Tirlan had a dream start. There were the usual startup hiccups, but the company can look back on a financially successful debut year in 2024.
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Kilkenny Cheese, as the joint venture is known, generated revenue of €196 million last year. The company posted a net profit of €4,6 million. This equates to a net profit margin of 2,34%. This is very acceptable for its first financial year.
Especially since €25 million of the turnover during the start-up phase was sold at cost to A-ware and Tirlan, according to Irish media. A-ware itself realised in 2024 a net profit margin of 1,7%.
The cheese factory can process at least 450 million kilos of milk annually, primarily into Gouda foil cheese. Construction costs were estimated at €140 million prior to its completion.