Significant risk for milk industry Kri Kri is the imposition dictatorial In imported products to the US, as said by Crisi Curry Director Konstantinos Sarmadakis in yesterday’s (16.4.2025) presentation of her financial figures for 2024.
Specifically, the financial director of Kri Kri said they are closely monitoring developments in the rapidly changing tariff environment, as duties can undermine the rapid expansion of their products to the US market.
The entrance of the Serra Dairy industry in the US took place in September 2024, with the launch of the Greek Frozen Yogurt series in Texas. The last name is already available in 250 points of salealthough the original goal was to presence in 300 stores to at the end of March 2025.
For this year, this investment expected to have no substantial impact on financial results of the company, because the product exposure to the US market is limited, as Mr Sarmadakis pointed out.
However, in 2026, Kri Kri intends to officially begin its cooperation with a large US retailer for the Production Greek Frozen Yogurt Private Label and the procedures have been completed at this time to sign their agreement.
What also concerns the company’s management is the possibility of retaliation by the EUfor example by imposing duties on imported products from the US, as if it includes agricultural goods such as soy or corn, then it will lead to Increasing the cost of feed and therefore the cost of production of fresh milk. “This may cause a spiral inflation in milk, but it’s too early to say more,” he explained.
About the company’s report on the US dollar, currently stays in very low levels. “However, in the future we are considering implementing some form of hedging for the management of our foreign exchange report,” Mr Sarmadakis underlined.
Kri Kri’s plans for ratings in 2025
During 2025, price adjustments are expected to compensate for high -cost milkas the financial manager of the company informed.
In particular, he himself said that have already proceeded to discusses for adjustments with some big customerswhile even their contracts predict Automatic price increasesif the cost – and especially the price of milk – exceeds a certain limit.
The company’s three -year investment plan
Above 25 million euros The total CAPEX CAP for 2024 have been in In 2025 it is projected to range between 21 and 25 million euros.
At the same time, the process of integrating an important project in Kri Kri’s investment is underway, which will be completed by 2027. The project «Greek Yogurt Dynamo» It concerns the expansion of the biogas plant and the increase in production capacity, both to the yogurt plant and the ice cream plant, to meet the demand provided by the US.
After completing this three -year investment plan, the company will be able to reach Sales of 500 million euros. “Of course, this depends on demand,” said the financial director of Kri Kri.
It is also worth noting that the company this year will have Tax relief of approximately EUR 4.7 million for investmentwhile for about 2026 3.2 million euros and 2027 plan EUR 2 million.
Company’s financial figures for 2024
In 2024, Kri Kri’s turnover (turnover) was amounted to EUR 256.40 million versus EUR 216.33 million In 2023, presenting Increase 18.5%. The company’s gross profit stood at € 76.13 million in 2024 compared to EUR 72.47 million in 2023.
A decrease was observed in the company’s EBITDA, which amounted to EUR 42.60 million compared to EUR 45.12 million in 2023, as well as the pre -tax profits of EUR 37.57 million versus EUR 40.30 million in 2023. About € 34.5 million in 2023. Million euros in 2023.
Strong sales increase mainly from yogurt exports (+32.5%) and secondarily by the Ice Cream (+19.4%). Operating profitability remained high, but was negatively affected by rise of milk prices In the second half of the year.
Nevertheless, net profits after taxes presented positive annual changemainly due to the recognition of tax reliefs of EUR 5.28 million (2023: 1.01 million euros), relative to state subsidies for investment projects.
Yogurt sector
Total sales increased by 18.2% in value and 19.5% in volume. Yogurt exports noted intense double -digit increase 32,5%exceeding 129 million euros.
This rise came from large markets Like the United Kingdom (+43%) and Italy (+17%), as well as from entering new markets, such as France.
Home market
Yogurt sales amounted to € 76 million, almost stable in value, with a slight increase in volume (+4.5%). Price reductions aimed at supporting domestic consumption. Consumers continue to turn to private label yogurts -even with less intensity- due to the preference for more economical choices.
Overall, the market is in restructuring phase, especially in terms of product categories and consumer preferences. Yogurts with Kri Kri brand lost 1.2 percentage points of market share, which stood at 14.9%, maintaining second place in the market.
Buying ice cream
In the domestic ice cream market, sales presented two -digit increase (+13.4%) in value. The market share in value decreased by 0.4 percentage points (14.0%) and in volume by 1.1am. (11.6%).
In the current inflationary environment that favors private label products, Curry is trying to offset the losses expanding its sales network.
Estimates of how this year’s sales will move
Despite the demanding economic and business environment, the administration of Kri Kri remains optimistic about the financial results of 2025, predicting that sales will continue to continue their upward course in 2025.
According to the Administration’s estimate, Sales are expected to make a strong double -digit increase, reaching EUR 300 million (+17%), with a key lever in exports. This assessment is based on the course of the first quarter 2025, in which sales increased Over 20%. EBIT margin is expected to range between 14% and 15%.