Press-release

In Q1 2017 Milkiland’s EBITDA advanced by c.8% on y-o-y basis to EUR 2.16 million according to the preliminary data. This growth was, to a great extent, triggered by the development of the Russian segment of the Group’s business. It contributed more than 90% of the Group’s consolidated EBITDA in the above mentioned period.

In particular, Ostankino Dairy managed to develop its sales of whole-milk products, including in the key accounts channel, Milkiland RU made further effective steps towards the localization of production and sales of cheese in Russia.

Targeted efforts of Milkiland Intermarket aimed on searching of the new markets for the Group’s products, resulted the supplies to the promising markets of several countries, including Israel, Jordan and China.

Comment by Oleksandr Androshchuk, CFO, Milkiland N.V.:

“We were happy to achieve a growth of the Group’s financials in the first quarter of the current year after a quite long period of the decline. Positive result of the Russian segment reinforced by the development of the international business of the Group mainly stood behind this growth. It’s also important to mention the gradual recovery of Polish and Ukrainian segments”.