2022 marked the 100th anniversary of our Company, an achievement of which we are particularly proud, as we know that few businesses achieve this milestone in their operation. In this centennial course, our Company has faced and overcome multifaceted challenges and has evolved into one of the most recognizable and beloved names in the Greek food market: a fact that we attribute to the uninterrupted adherence to the principles and values that govern all our business actions and initiatives.
During the year, and in a celebratory atmosphere, we tried to express our gratitude to all those who contributed to this successful course of our company – and especially to the consumers, whose trust in the quality of our products has always been the cornerstone of our timeless success. Specifically, in the first four months, emphasis was placed on corporate communication through several promotional actions and information initiatives to which there was a significant response. Also, particularly successful were the exhibition held at the Benaki Museum entitled “Papadopoulou 100” and our advertising campaign with the same theme that awakened nostalgic memories and heartened all Greeks.
In 2022, there was a significant decline of the pandemic, which had determined the previous two years developments. However, significant difficulties arose from developments in the international geopolitical and macroeconomic environment. The war against Ukraine, the global energy crisis and soaring inflation have been among the main problems that have had to be addressed. The limited availability of raw materials and packaging materials worldwide has led to rapid price increases, as have increases in energy and distribution costs.
In this macroeconomic context, we are particularly pleased that our Company managed to increase sales volumes in all four main product categories in which it operates (biscuit, bread, pastries, and cereals), achieving an overall volume increase of 4.8%.
Empathizing with our customers and the final consumers of our products, considering the increase in the average annual consumer price index and the decrease in the purchasing power of households, we decided to absorb a large percentage of the increased costs that incurred as a result of the global crisis and not to pass them on to the final consumer by limiting increases in final consumer prices to significantly lower percentages from inflation.
In international markets, the Company managed to further strengthen its presence by entering new markets, increasing the number of countries in which it operates to 67. At the same time, with the further deepening and development in the already active countries, a double-digit percentage of total growth in volume was achieved, confirming the international strategy chosen by the Company.