Financial status

In 2019, our company’s turnover reached €173.8 million (compared to €157.6 million in 2018), increasing by 10.3% compared to 2018. Earnings before tax (EBT) mounted to €14.1 million (compared to €12.1 million in 2018) reaching an increase of 16.5%

The company increased its sales and strengthened its position in all market categories.

In 2019 the biscuit market continued growing, driven by all subsegments, with our company excelling in all of them. The cereal bar segment continued to grow this year and our company strengthened its position, increasing its market share.  Our company continued to score high in the bread category with double digit percentage growth in sales. In the rusks category, our company maintained its increasing course, despite the category being declining.

More specifically, in 2019 our company continues to grow in both the sweet and savory snacks market, by:

  1. Successfully launching the new brand NUTRIES oat cookies and nut bites.
  2. Launching new products for existing brands such as MIRANDA 30% less sugar biscuits, multicereal breakfast bites, Super Rondo cookies and new 250gr pack for Mini Pick
  3. Launching new and innovative communication campaigns for choco coated Petit- Beurre, Cream Crackers, Caprice (and its contest “Game in never over”), Sandwich biscuits with double cream filling and the campaign “find the different biscuit”, as well as additional promos in selected hyper markets.
  4. Entering the ice cream market, by collaborating with Kri Kri company, producing two new products

Internationally our company continued its successful course by implementing a strategy mainly based in the restructuring and development of its distribution network, in entering new markets and strengthening its position in existing ones, as well as further enhancing the promotional action plan of its main export brands via Organized Retail Networks, with a focus on both the European and Middle Eastern markets, North America and Asia.

As a result, the company entered 5 new markets by the end of 2019 and is now present in 57 countries. In 2019 the company has increased its international sales by 6.5% compared to 2018.

 

 2018 (in thous. Euro) 2019 (in thous. Euro)
Total Assets 179.330 184.020
Equity 103.493 113.606
Liabilities 75.837 70.414
Turnover 157.609 173.839
Earnings before taxes 12.099 14.098