KRI KRI, CORPORATE VIDEO 2019
Please click on the photo below
FOR THE PERIOD OF 1 JANUARY 2019 UNTIL 31 DECEMBER 2019
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
Company’s turnover amounted €112.903k against €94.234k (increased by +19,8%). Ice-cream sales present an increase of 11,9% amounting €28.107k against €25.119k of 2018. Yogurt sales present an increase of +22,7% amounting €84.438k against €68.830k of 2017. Finally, exports were 41,2% of total sales presenting an increase of +36,2%.
Company’s profit before tax amounted €17.570k against €14.240k of 2018 (+23,4% increase). The net profit after tax amounted €15.015k against €10.112k of 2018 (+48,3% increase). EBITDA amounted €21.120k against €17.292k of 2018 (+22,1% increase).
Management seeks to maintain a small exposure to debt. At 31/12/2019, the balance of Company’s loans amounts to €12.223k. . Net debt is €1.306k, calculated as total loans minus cash.
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 launches have been very successful. The above led to an increase in sales of our branded products.
In yoghurt, we continue our focus on the big category of strained yogurt. With intense advertising and parallel targeted in-store promotions, we strengthened our market share, with a significant increase in our sales.
Overseas, yogurt sales are booming. We exploit the dynamics of Greek yogurt in western European markets and further develop existing collaborations.
We have developed and we are implementing investment projects to increase production capacity, as well as technological upgrading, of both yoghurt and ice cream factories. In current year, total CAPEX exceeded €15,6m.
Investment projects with a total budget of €26,6m have been included in the Development Law 4399/2016, eligible for 35% grant as a tax relief. In the current financial year, the amount of income tax has been reduced by € 1.193k, by exercising the option of tax exemption, which we were granted after the certification of 50% completion of such a project.
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.
In the ice cream sector, our focus is to improve the operating profitability. At the same time, we are promoting the increase of arithmetic distribution, with emphasis on tourist areas. Particular emphasis will be placed on strengthening exports, since great growth opportunities can emerge there.
In the yoghurt sector, we utilize our modern production facilities, with the large 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.
The KRI-KRI Dividend Policy promotes the distribution of an increased dividend each year, as long as the profitability figures allow.
For the previous fiscal year 2018, the General Meeting of shareholders decided the distribution of gross dividend of €0,15 per share.
For the financial year 2019, the Board of Directors decided to propose to the General Meeting of shareholders the distribution of gross dividend of €0,18 per share. The distribution is subject to the approval of the General Meeting of shareholders.