PepsiCo Hellas announced its financial results for the 12 months to 2023, which consistently show its strong performance in Greece. As stated, continuing to strengthen its business and financial position at a steady pace, it presents a consolidated turnover of €238,28 million, moving on an upward trajectory compared to 2022 by 18.45%.
PepsiCo Hellas continued in 2023 to make effective use of its available resources, as it managed to achieve an increase in its revenues and maintain profitability in a highly volatile and uncertain external environment and in the face of the difficult conditions faced by the entire food and beverage industry, presenting a gross profit for the year of € 101,23 million, compared to €83,58 million in 2023.
The above increase (21.15%) is mainly due to the significant increase in sales. Products such as Lay's, Ruffles, Doritos, Doritos Kinder, Lipton and Pepsi made a significant contribution to the upward sales trend. Cost of sales also showed an increase (16.53%), mainly due to higher purchase costs of merchandise and raw materials compared to the corresponding amounts for FY 2022.
Specifically, the cost of sales for fiscal 2023 amounted to €137,03 million compared to €117,597 million for fiscal 2022. Net income before taxes (profit) amounted to € 2,624 million compared to € 5,739 million in the previous fiscal year. The increase in disposal costs by € 13,859 million compared to 2022, as well as the decrease in gains on disposal of non-current assets (by € 6,093 million - sale of the Loutraki plant in 2022), largely account for the change in profit before tax.
Faced with ongoing challenges such as geopolitical tensions and conflicts in the Middle East and Ukraine as well as continued attacks in the Red Sea, PepsiCo Hellas placed particular emphasis on limiting fixed costs and achieving better prices in the raw materials market. At the same time, it focused both on maintaining its stable course and on implementing investments aimed at both the development and production of new products and the use of modern sales promotion tools in the Greek market.
In this context and through strategic partnerships, PepsiCo Hellas has remained true to its commitment to support the Greek economy by repatriating HVI soft drinks with the production of aluminium cans at EPSA's Volos plant from March 2023, while with the reopening of the flagship production and bottling plant of natural mineral water, Loutraki, Corinthia, in collaboration with N. U. AQUA, undertook the distribution of natural mineral water "Eonio Loutraki".
In addition, and expanding its strategy of repatriating soft drinks to Greece, it is expanding its cooperation with NU AQUA for the production of rPET bottles at its Loutraki plant in the coming months, aiming, by 2025, to have brought 60% of its soft drinks production to Greece.
Already, the Ag. Stefanos snack production plant currently produces 42 brands of snack products (19 types of Snacks and 23 flavors of Potatoes), a total of 200+ codes, reaching the production of almost 0.5 million packs per day, while it also plans to integrate the production of Quacker in its state-of-the-art plant. It also continues to support Greek producers, strengthening its collaborative relationship with them by providing high-quality training and expertise through the implementation of its innovative Agro Digitization program. With a significant part of its raw materials coming from local agricultural products, PepsiCo Hellas purchases annually more than 20 thousand tons of potatoes from Greek producers.
