WARSAW: Said on Saturday that it reported Q1 revenue of 36.5 million euros ($41.3 million) versus 46.7 million euros a year ago. Q1 net loss was 16.3 million euros versus a loss of 34.9 million euros a year ago. In Q1 whole-milk diary segment revenue decilned 19 pct yoy to 22.3 million euros due key operational currencies devaluation.
In Q1 cheese & butter segment revenue decreased by about 22 pct, to 11.2 million euros due to volume contraction and operational currencies devaluation. Said reported 22 pct drop of consolidated revenues due to absence of cheese exports from Ukraine and Poland to Russia, unfavorable pricing for dry milk products in the global dairy market, as well as further Ukrainian hryvnia and Russian rouble devaluation.
