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November 17, 2019
ECONOMY

Greek beverage market recovering, survey says


The Greek beverage market has been showing signs of recovery since 2017, following a decline in the previous years, a survey by Infobank Hellastat said on Tuesday. The survey said this development was attributed to the reopening of the Marinopoulos supermarket network, following its acquisition by Sklavenitis, and a further increase in tourist arrivals in the country.

The survey, citing data by IRI Hellas, said that beverage sales rose 7.0 pct in value and 0.4 pct in volume by April 2019, while private label beverage products grew 10.4 pct in value and 14.3 pct in volume. The survey analysed the financial results of 15 enterprises in the sector. Turnover in 2017 grew by 7.6 pct to 599.05 million euros, from 556.96 million in 2016. EBITDA jumped 74 pct to 30.11 million euros, while pre-tax earnings were 5.72 million euros from losses of 5.81 million the previous year. EBITDA margin improved to 6.4 pct.

Maria Theodosopoulou, Sectorial Studies Consultant, said the beverage sector is characterised by a high degree of consolidation and intense competition and noted that in the last few years consumer trends tended to more healthy products, such as light or ‘zero’ beverages, with consumption of beverages with high sugar levels gradually falling. She stressed that domestic companies continue investing in the development of “green”, innovative products and strengthen their presence in foreign markets.

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