2023-08-05 08:18:00
With an increase in turnover and sales volume, 2022 closed for the “Papadopoulou Cookies”, while at the same time the leading company in the category significantly strengthened its extroversion, with its products now exported to 67 countries. The increase in sales volume is also significantly related to the company’s decision not to pass on all the increase in production costs to prices. This, of course, cost the company profits, which fell significantly in 2022 compared to 2021.
In particular, according to the financial report published by the company in the General Commercial Register (GEMI), its turnover in 2022 was 216.16 million euros compared to 185.04 million euros in 2021, registering an increase of 16.82%.
The company managed to increase sales volumes in all four main product categories in which it operates (biscuits, bread, pastries and cereals), achieving an overall sales volume increase of 4.8%.
Net profit before taxes in 2022 fell to 11.86 million euros compared to 15.84 million euros in 2021, recording a decrease of 25.13%. Net profit after tax in 2022 was 11.58 million, from 12.81 million in 2021, a decrease of 9.59%. The company’s short-term liabilities decreased at the end of 2022 to 56.52 million euros, from 60.12 million euros in 2021. For the fiscal year 2022, the company’s board of directors decided to propose to the general meeting of shareholders not to distribute a dividend.
Regarding the company’s investments, “Papadopoulou Biscuits” has submitted an investment plan to Development Law 4399/2016 for a total amount of 46.26 million euros, of which 11 million euros will be subsidized using tax-free reserves.
The company has made use of said reserves for an amount of approximately 2.42 million euros. From the above investment program, the company carried out last year what concerns an amount of 38.6 million euros, essentially completing it, as in 2021 it had made investments of 18.5 million euros.
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