The Importance of Barbapapa Stathis Group’s Asset in the Vivartia Group
The significance of Barbapapa Stathis Group’s asset within the Vivartia Group has once again been confirmed, with the performance in 2023 maintaining an upward trajectory. Equally positive are the management’s forecasts for the current year.
Specifically, according to the financial report, on a consolidated level, sales in 2023 continued the upward trend of previous years, accelerating their growth with an increase of 8.7%, totaling €223.3 million compared to 2022.
All operational sectors of the Barbapapa Stathis Group have contributed to this growth, solidifying its position within the Vivartia Group.
Increase in Sales for Frozen Vegetables, Frozen Dough, and Fresh Salads
The company reported an increase in sales with growth rates of 3.7% for frozen vegetables, 12.0% for frozen dough, and 2.3% for fresh salads.
Dominance in Frozen Vegetables – Where the Market Share Increased
In frozen vegetables, the group maintained its leading market share at 54.4% in value and 41.3% in volume. For frozen dough, the market share increased to 18.1% in value and 14.5% in volume, while fresh salads saw an increase in market share to 11.6% in volume and a retention of 12.6% in value.
Export sales also saw a significant increase of 18.2% and more, representing a promising trend for the company.
Financial Performance of Company X in 2023
In 2023, Company X reported a significant increase in sales, reaching 32.9% compared to the previous year. It is worth noting that the company operates in more than 46 markets worldwide.
Profit Growth
In terms of profitability, the gross profits increased by 17.3% to 65.1 million euros, with a gross profit margin of 29.2% compared to 27.0% in 2022. This increase was due to the significant rise in sales of external products.
The EBITDA reached 33.4 million euros, marking a 16.4% increase from 2022. Pre-tax profits were 18.7 million euros, up from 17.1 million euros in 2022, representing a 9.5% increase. This growth was a result of the increase in sales and efficiency improvements.
Investments and Acquisitions in 2023
During the past year, the group continued its investment plan to expand its production facilities and optimize its production process, making investments of 10.3 million euros. This is part of a four-year plan (2020-2024) totaling approximately 58 million euros, of which investments…
Reduction in Group Borrowings
Group borrowings decreased by 2.5% to 124.8 million euros, primarily due to exports. This reduction was a result of the repayment of a portion of the bank loan. Meanwhile…
Development Programs funded by the Greek Government
An amount of 23 million euros has been allocated to subsidized development programs by the Greek Government, with funding provided either through tax incentives or cash. Within the year 2023, a distribution of 1.875 million euros was made in dividends. However, for the year 2023, the Board of Directors will not be recommending a dividend distribution.
Company Acquisitions and Mergers
It is noted that during the previous year, the acquisition of Chalvatzis Makedoniki was completed, while simultaneously the merger of two yeast companies was finalized, with the absorption of ALESIS SA by M ARABATZIS SA.
Goals for the Future
The company aims to continue its growth and development through strategic acquisitions and mergers, while also focusing on sustainable business practices and innovation to stay competitive in the market.
The Group’s Outlook for the Current Year
About this year
Regarding this year, the group predicts further increase in sales and operational profitability, through the implementation of its medium to long-term strategic plan, with main axes: maintaining and strengthening the leading position of all sectors of activity in Greece, accelerating the sales growth of Macedonian-Halvatzis S.A. and exploiting partnerships in the distribution network, logistics, procurement, research and development, further developing export activity, and focusing on innovation and sustainability.
Optimizing Product Presence in Retail
One of the key strategies for businesses in the retail sector is optimizing the presence of their products. This involves ensuring that products are visible and attractive to customers, both online and in physical stores. By implementing effective marketing strategies and utilizing data analytics, companies can improve their product visibility and ultimately drive sales.
Rationalizing and Optimizing Operational Models
Another important aspect for retail businesses is rationalizing and optimizing their operational models. This includes streamlining processes, reducing costs, and improving efficiency. By adopting new technologies and best practices, companies can enhance their operational performance and stay competitive in the market.
Maintaining Cultivated Areas in the Primary Sector
For businesses involved in the primary sector, such as agriculture, it is crucial to maintain cultivated areas. This involves sustainable farming practices, soil conservation, and biodiversity preservation. By taking care of the land and resources, companies can ensure the long-term viability of their operations.
Continuing the Broad Plan of Actions on Circular Economy and ESG
Lastly, retail businesses should continue to focus on initiatives related to circular economy and Environmental, Social, and Governance (ESG) practices. This includes promoting sustainability, reducing waste, and supporting ethical business practices. By incorporating these principles into their operations, companies can contribute to a more sustainable and responsible future.