AIRA consolidates and closes 2021 with a 9% growth rate
The Cooperative grew for the fourth consecutive year despite a significant cut in margins to contain the increase in production costs resulting from the current crisis.
AIRA achieves a consolidated turnover of 148.2 million euros and grows in all business areas, especially in reference areas such as milk and feed.
AIRA held this Wednesday its Ordinary General Assembly in Taboada (Lugo) in which it presented the accounts of this last year to its members. The Cooperative continues to consolidate as a leading company and in full expansion phase, achieving this year a growth of 9.1%. AIRA continues to grow at a sustainable rate and in these 4 years since the integration process was formalized in 2018 has achieved a growth of 39%.
AIRA has grown in all business areas, especially in those of reference for the agricultural and livestock sector such as milk or feed. The Cooperative continues to maintain its commitment to enhance the value of production and to support the nearly 3,000 members that make up the entity. “We continue to grow and we do it, as usual, by cutting profit margins,” explains Daniel Ferreiro, AIRA’s general manager.
We seek to contain the prices of both products and services offered at the Cooperative to mitigate the impact on member farms and ranches
In addition, in this 2021 the Cooperative sought to help address the increase in production costs that has been suffered in the field. “We have made an additional effort in the Cooperative with the intention of palliating the strong increase that production costs have experienced. We seek to contain the prices of both products and services offered by the Cooperative to mitigate the impact on livestock and member farms,” Ferreiro said.
The Cooperative closed 2021 with a consolidated turnover of 148.2 million euros, by remaining a benchmark in the business areas. AIRA achieved an EBITDA level of 5.6 million euros, which allows the Cooperative to face the volume of investments they handle and also leaves a net surplus of 2.4 million euros, of which more than 50% will be capitalized to the associates.
AIRA reached in 2021 the forecasts that it had expected and marketed 115 million liters of milk and had a production of 250,000 tons of feed, figures that keep it as one of the main feed factories specialized in dairy cattle in Spain. In addition, the Cooperative invested 15 million euros during these years, putting special interest in commercialization and transformation, so that in the milk transformation plant of Melide investments of 24 million euros have been made.
Renewal of the Board of Directors
In addition to the presentation of the accounts, another of the topics on the Assembly’s agenda was the updating and modernization of the Cooperative’s bylaws to adapt them to current needs and rhythms. In addition, half of the positions on the Governing Council were renewed, as stipulated in the Cooperative’s bylaws. The process was ratified by the members present and all the positions were maintained, with the exception of the second member, due to the retirement of his predecessor.
