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Financial Information

In 2020, our company’s turnover reached €178.9 million (compared to €173.8 million in 2019), increasing by 2,9% compared to 2019.

Earnings before tax (EBT) mounted to €14.9 million (compared to €14.1 million in 2019) reaching an increase of 5.6%

In 2020, COVID pandemic affected all our main market categories. Domestic consumption significantly increased due to lockdown and ended up offsetting the negative effect of the collapse of tourism. Total consumption increase driven by biscuits especially the plain/healthy ones.

Our company continued to score high in the sliced bread category, continuing the successful course of the previous years. This year we increased our market share. The launch of the German Type Bread in November contributed to that.

In the rusks category, the situation helped improve consumption and raise market shares.

Moreover the cereal bar segment continued to grow while maintaining our market share.

More specifically in 2020:

a) Our Green Line (no sugar) was the forefront of development and a significant pillar through the launch of new products and the strengthening of existing products such as Miranda, Petit-Beurre, Digestive & Oat Cookies.

b) Indulgent biscuits also developed and recorded great market potential with brands such as Caprice, Choco sandwich biscuits and Sandwich biscuits with double filling

c) Cream Crackers, continued its increasing course based on the very successful communicational strategy we have implemented throughout the years

d) Krispies’ new communication campaign resulted in double-digit growth.

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. As a result our company is now present in 61 countries worldwide, increasing its international sales by 7.5% compared to 2019.

ITR presented a sharp drop by 81% due to COVID pandemic that hit the industry.

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In 2019, the company achieved sales of €173,8 million (2018: €157.6 million), an increase of 10,3% compared to 2018.

Profit before tax amounted to €14,1 million (2018: €12.1 million), an increase of 16,5%.

The Empty Field 2020 (€ ths) 2019 (€ ths) 2018 (€ ths)
Total Assets 186,211 184,020 179,330
Equity 108,625 113,606 103,493
Liabilities 77,586 70,414 75,837
Turnover 178,856 173,839 157,609
Earnings before taxes 14,892 14,098 12,099
The 2020 Annual Financial Statement and Balance Sheet have been filed to the General Commercial Registry (G.E.MI.)