Billionaire Teplý praised Babiš's minister. He regrets that he can no longer sell to Russia
Milan Teplý, owner of the largest Czech dairy company, expressed dissatisfaction with current food prices and the government's plans to lower them, while also regretting the loss of the Russian market.
Milan Teplý, a prominent figure in the Czech dairy industry as the owner of Madeta, has publicly shared his views on the government's strategies to address food prices amid ongoing economic challenges. In recent remarks, he has criticized the food retail chains for their pricing practices and expressed concerns about the government's initiatives led by PM Andrej Babiš to reduce food costs. Teplý, who has faced significant financial pressures over the past years, warns that despite Madeta's increasing revenue, profitability is at crisis levels, indicating the ongoing struggles within the industry.
During an interview, Teplý noted that Madeta's financial turnaround in 2024, with a reported profit of nearly 250 million crowns, masks deeper issues in operational profitability as he plans for continued growth into 2025, projecting over 8 billion crowns in revenue. He acknowledged the challenges of rising operational costs, particularly energy, which have historically posed risks to the company’s stability, sharing a glimpse into the ongoing pressure food producers face in the evolving market landscape. Furthermore, his disappointment over no longer being able to sell to Russia reflects broader geo-economic shifts that have forced many Czech producers to rethink their export strategies and market dependencies.
Teplý's comments underline the complex dynamics between government policies, market practices, and the realities faced by agricultural producers in Czechia. As he navigates these challenges, his perspectives contribute to the conversation about the future direction of the Czech dairy sector amidst both domestic economic pressures and changing international trade relations.