ARI, a company engaged in the production of antipasti-type foods, expects further growth in its sales for the current year, relying on its exclusive partner... Lidl International.

Thanks to its almost 20-year collaboration with the German giant, the Greek company has managed to multiply its turnover by over five times since 2011.

Furthermore, as stated in the board of directors' management report, "in the research sector, the company continues an ambitious program to improve the produced products, based on continuous scientific and technological monitoring of the production process."

It also adds that "in any case, the management's main concern is the continuous improvement of the production process, the quality of its products, increasing its exports, and compressing expenses."

Investments

As for the company's investments, an application for a €9.8 million investment plan has been approved for the SUB1 sub-project "Innovation and green transition in the processing of agricultural products" of the action "Economic transformation of the agricultural sector" of the Recovery and Resilience Fund, co-financed by the European Union - NextGeneration EU, with a public expenditure of €4.414 million.

The project involves expanding the production capacity of the existing industrial unit for the production of Antipasti products, which is located in the Industrial Area of Lakkoma, Chalkidiki.

The investments (in € thousand) concern:

• €4,602: construction and modernization of properties

• €780: landscaping of the environment

€100: Vehicles for transportation of raw materials and products

• €3,722: Purchase, transportation, and installation of equipment

• €13.4: Expenses for machinery organization

• €62.6: Expenses to ensure accessibility for people with disabilities

• €157.36: Intangible assets

• €372: Investment incentives for promoting renewable energy

The company is planning additional investments of €5 million, focusing on logistics with an emphasis on automation.

GROWTH 23%

The previous year ended with a 23% growth and an improvement in gross profit, while managing to maintain EBITDA levels at 2021 levels. The relatively larger increase in expenses (by 24.84%, to €51.1 million) affected the final profitability.

OUTSIDE GREECE, THE TURNOVER

Almost the entire business cycle takes place outside Greece, specifically in 29 European countries and the United States. Approximately 60% of the production of the Greek company is directed towards the German market, followed by the United Kingdom with a percentage of about 15%.

PORTFOLIO

In ARI's portfolio, the following are included:

• Olives

• Mixed product lines in multi-seat packaging with combinations of olives, antipasti, and other appetizers

• Spreads

• Side dishes

INFO - BRANCHES

Thessaloniki: 1 (functions as an office)

Lakkoma, Chalkidiki: 2 (operate as units for the maturation and processing of edible olives and fresh vegetables). In the same area, it has a warehouse and offices.