Milkiland changed its place of registration from the Netherlands to Cyprus

Milkiland, a dairy group with assets in Ukraine, RUSSIA and Poland, changed its registered office from the Netherlands to Cyprus and is now controlled by its Cypriot holding company, Milkiland Public Company Limited, the company reported on the Warsaw Stock Exchange.

The company also announced the postponement of the publication of the consolidated financial statements of Milkiland Group for the first quarter of this year to June 21 due to the need to correctly reflect all the consequences of the group's restructuring, as well as due to obstacles for financial auditors caused by the covid-19 pandemic .

As reported, the decision of Milkiland to change the country of registration became known in April 2020.

The Milkiland group of companies has production facilities in Ukraine, Russia and Poland. In Ukraine, the company owns over 3,000 dairy cows and cultivates 17,000 hectares of land. According to the company's website, the Milkiland group owns 10 factories in Ukraine that produce a wide range of dairy products, including cheeses, dairy products and butter, sold under the trademarks Dobryana and Kolyada. In Russia, Milkiland owns OJSC Ostankinsky Dairy Plant and OJSC Rylsky Cheesemaker, which produce products under the Ostankinskoye brand, and in Poland, the Ostrovia CHEESE FACTORY operating under the brand of the same name.

The net loss of Milkiland in January-September 2020 amounted to EUR 29.03 million, which is 2.5 times more than in the same period in 2019. Its consolidated revenue decreased by 2.2 times - to EUR43.98 million as a result of a noticeable drop in the Russian segment of the group's business.

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