Financial status

The company’s turnover reached €148,8 million in 2017 (compared to €142,7 million in 2016). Earnings before taxes (EBT) amounted tο €10,6 million (2016: €10 million.)

The company increased its sales and strengthened its position in all categories of its business operations.

The company continued to strengthen its position in the savoury and sweet snacks market, by:

a) new and innovative communication campaigns for Caprice, Petit- Beurre biscuits, Multicereal biscuits, Cream Crackers, Digestive Bars, Mini Pick Crackers and Sandwich biscuits

b) launching 2 products in the ice cream category (sandwich ice cream with Petit-Beurre biscuits and “4×4” sandwich ice cream with Papadopoulos Sandwich biscuits

c) product line extension, adding new flavours in existing brands (e.g. Petit-Beurre biscuits with oat), which, in response to the needs of modern consumers, contributed to the growth of sales volumes and the strengthening of each of the company’s brand in the Greek market

The company has maintained its successful course in the sliced bread market, showing a double-digit percentage- growth in its sales volume, significantly boosting its market share in all distribution channels. At the same time, the “Traditional Choriano Bread” brand was reinforced with the new flavour “Traditional Choriano bread” wheat with Barley & Oat”.

In the rusks category, the company increased its market share in volume and value, while further enhancing its leading position in the sub-category of Premium rusks. Additionally, the company refreshed its Breadsticks product line, by new packaging artworks and by adding a new flavour “Multigrain Breadsticks” in its existing product line.

Internationally, the implementation of the company’s strategy continued successfully, mainly based on the restructuring and further development of the company’s promotional plan, in order to support the company’s products in the international markets. The company’s international activity continues its dynamic growth, with the main goal of branded penetration of products into Organized Retail Networks, with an emphasis on European Markets and Markets in the Middle East and North America.

As a result, the company is now active in more than 45 countries worldwide, while in 2017, compared to 2016, it increased its volume by 14.4% and is sales by 18%. Caprice has shown a remarkable momentum, while it still remains the company’s No.1 exported product with a volume growth of 22,2% in 2017, while the rest for the company’s exported products have shown a 6.4% growth in volume.

2016 (in thous. Euro)  2017 (in thous. Euro)
Total Assets 158.844 160.530
Equity 90.224 95.218
Liabilities 68.619 65.312
Turnover 142.716 148.786
Earnings before taxes 10.014 10.612