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KRI KRI

EXTRACT FROM THE ANNUAL REPORT OF THE BOARD OF DIRECTORS OF KRI-KRI MILK INDUSTRY S.A.

FOR THE PERIOD OF 1 JANUARY 2018 UNTIL 31 DECEMBER 2018

KRI-KRI MILK INDUSTRY S.A. operates in the dairy industry. Our main business activities are the production of ice-cream and yogurt. Our distribution network is panhellenic and comprises of super market chains and small points of sale. We export our products to more than 24 countries abroad. The headquarters and the production facilities are located in Serres, Northern Greece and a secondary distribution center is located in Aspropirgos region of Attica, Greece.

Ι. PERFORMANCE AND FINANCIAL POSITION

SALES

Company’s turnover amounted €94.234k against €79.246k (increased by +18,9%). Ice-cream sales present an increase of 16,2% amounting €25.119k against €21.615k of 2017. Yogurt sales present an increase of +19,8% amounting €68.830k against €57.450k of 2017. Finally, exports were 36,3% of total sales presenting an increase of +41,7%.

PROFITABILITY

Company’s profit before tax amounted €14.240k against €9.891k of 2017 (+44,0% increase). The net profit after tax amounted €10.112k against €7.337k of 2017 (+38,0% increase). EBITDA amounted €17.292k against €12.450k of 2017 (+38,9% increase).

 LOANS

Management seeks to maintain a small exposure to debt. At 31/12/2018, the balance of Company’s loans amounts to €9.200k, while net debt is zero. 

ΙΙ. IMPORTANT EVENTS OF CURRENT FINANCIAL YEAR

OUR POSITION IN THE MARKET

In the domestic market, in the ice cream sector, we dynamically promoted the growth of our arithmetic distribution. We added more than 1,000 new points of sales to our network, while we have enhanced our presence in the super market channel. Also, new ice cream products, which were launched this year, have been a major success. So, we managed to achieve a significant increase in sales of branded products, while increasing our market share.

In yoghurt, we continue our focus on the big category of strained yogurt.  With intense advertising and parallel targeted in-store promotions, we managed to strengthen our market share, with a significant in-crease in our sales.

Overseas, yogurt sales are booming. This result comes from expanding current collaborations, but also from the utilization of the Greek yogurt dynamics in the markets of the West. Europe where we have a presence.

 

INVESTMENTS

We have developed and implemented investment plans to increase production capacity, as well as technological upgrading, of both yoghurt and ice cream factories. Plans with a total budget of € 18 million have been included in the Development Law 4399/2016.

In the current year, our investments exceeded € 8m.

 

SAFETY, ENVIRONMENT, CORPORATE SOCIAL RESPONSIBILITY

Safety in the workplace, environmental protection, harmonious co-existence with the local community and ongoing staff training continue to be non-negotiable goals, linked to the operation of the company. Also, specific actions are carried out within the framework of the Corporate Social Responsibility program.

 

STRATEGIES

            In the ice cream industry, our main focus is to improve the sectoral operating result. At the same time, we are promoting the growth of numerical distribution, with emphasis on tourist areas. Emphasis will be placed on boosting exports as major growth opportunities emerge.

In the yoghurt sector, we make good use of our modern production facilities, with high production capacity and competitive processing costs, aiming at increased sales. In this direction, we actively communicate the competitive advantages of our products (such as the use of 100% same day produced milk for the production of yoghurt). At the same time, we strengthen our export orientation, responding to the increased demand for Greek yoghurt in foreign markets.

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DIVIDEND POLICY

The KRI-KRI Dividend Policy promotes the distribution of an increased dividend each year, as profit margins allow.

The Tactical General Meeting of the Shareholders has decided to the distribution of dividends for the financial year 2017 of gross value €0,115.

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Kri Kri S.A.
Kri Kri's high standard production plant is located in Northern Greece, in the middle of the fertile valley of Struma and just 3 km from the town of Serres. Having a history since 1954, Kri Kri S.A. produces ice cream and yogurt from 100% Greek milk from Serres and has earned Greek and foreign consumers.
Contact & Support
Kri Kri S.A.
Milk Industry
3rd km Nat. Road of Serres-Drama
62 125 Serres
Tel.: +30 23210 68300
Fax.: +30 23210 68311
Email: info@krikri.gr
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