The management of Lactea expects a significant increase in turnover for this year, based on the current order data.

"To the extent that inflationary pressures and the energy crisis affect the future performance of our company, at this stage, any prediction is unfortunately very risky because we do not know the duration and intensity of the crisis. We expect their impact to affect the company's revenues and cash flows to a small extent during 2023," as highlighted in the annual financial statements.

Investments

As revealed by FNB Daily on 23/10/2023, Lactea is moving forward with an investment of €15 million in Western Macedonia. It has already acquired 100 acres with the aim of constructing a new production unit. The new facility is estimated to double Lactea's production, which, with the new agreements in 2024, has already reached its capacity. The new Lactea plant is the company's third in line (with one in Kilkis and one in Cyprus) and is expected to be operational within the next three years.

Additionally, Lactea's plan includes a new investment of €2.5 - €3 million for optimizing production capabilities and reducing energy consumption in existing units. This program will commence in 2024 and is anticipated to be completed within a 12-18 month timeframe.

PROFIT DOUBLING

The past year concluded with a growth of 8.21% and a doubling of profits.

THE PICTURE IN GREECE & ABROAD

The overwhelming majority of sales take place outside Greece (in more than 20 countries), with the corresponding percentage of total turnover reaching 88% last year, down from approximately 94% in 2021. The majority of production is distributed in Central Europe, while the American market operates with smaller volumes. In the management's future plans, the company's products are intended to be solidified in partnerships it already maintains within its international network.

Regarding the Greek market, there is an emphasis on the increase in its contribution to total sales. This is attributed to more targeted initiatives undertaken by the industry, establishing collaborations with supermarkets for which it produces private label products for white and feta cheese.