Pepsico Hellas: 41.5% leap in 2021 turnover

PepsiCo Hellas consolidated turnover registered a leap of 41.5% reaching 171 million euros for 2021, up from 120.8 million euros in 2020. This increase also results from the merger of TASTY FOODS with PEPSICO-IVI.

In an environment of the ongoing health crisis, and the economic and social impacts caused by the pandemic, PepsiCo Hellas increased its sales in 2021 to levels greater than 2019, both in the food category (+5% compared to 2020, +8% compared to 2019 ) as well as that of soft drinks (+ 17.5% compared to 2020, and around the same levels as 2019).

“This is a remarkable achievement as it was achieved in an extremely volatile and uncertain external environment,” the company said in the announcement of the financial results.

Profitability

With reference to the profitability results of 2021, the gross profit for the year amounted to € 77,390,018.83, against an amount of € 59,099,278.80 for the year 2020. The above increase (30.95%) is mainly due to the fact that the merger significantly increased the Company’s sales.

The cost of sales also showed an increase (51.59%), mainly due to the rise in cost of raw materials, but also the particularly increased cost of purchasing goods (€ 27,393,035.75 in 2020 compared to € 53,237,523.39 in 2021), while the cost of purchasing goods from the soft drinks sector, amounting to €19,940,816.16, also contributed to the said increase in the cost of sales.

The net results before taxes (profits) amounted to € 4,172,356.55 compared to € 7,265,890.33 in the previous year, i.e. decreased by € 3,093,533.78. This change is mainly due to the increase in sales costs as well as distribution costs (€ 42,479,379.34 in 2020 compared to € 65,671,440.73 in 2021), as the amount burdening the results from the soft drinks sector rose in € 22,464,069.30.

Sale of Loutraki factory

At the same time, in September 2021, PepsiCo Hellas completed the sale of its factory in Loutraki, entering into a strategic partnership with N.U. AQUA for the reopening of the flagship natural mineral water production and bottling plant, Loutraki Corinthia, which was inaugurated in July 2022, with PepsiCo Hellas taking over the distribution of the natural mineral water “Eonio Loutraki”.

Strategic Planning 2022-2023

The strategic and investment planning of PepsiCo Hellas aim to maintain growth by focusing on digitization, offering products with higher nutritional value at affordable prices as well as greater energy savings.

Specifically, the strategic targeting of PepsiCo Hellas for 2023 foresees:

1. further implementation of the digitization strategy in all sectors, creation of new strong and stable partnerships as well as improvement of productivity (automation and upgrading of productive activities),

2. implementation of synergies and actions to reduce operating costs, making the most of economies of scale,

3. strengthening of social responsibility actions in 3 main axes: Healthy business growth, Emphasis on the environment and “giving back to society”,

4. further strengthening its portfolio with products with an enhanced nutritional profile and higher nutritional value for consumers (gluten-free products, less sugar & salt, etc.),

5. further reduction of the energy footprint and de-dependence on sources with a negative environmental footprint.