Of George Lampiris
The day after the agreement for the restructuring of its loan obligations, which was completed in 2020, the Haitoglou group is already going through, investing in the breadth and opportunities presented by the American market, with its entry into several important chains in recent years on the other side. Atlantic.
The group has finally turned strategically to the development of its exports. The movements made in the field of international sales began to be recorded from 2019 and then with 2020 being a key year with an increase in turnover by 12% and by 26% in exports.
In 2020 the group became after several years positive in terms of profits after taxes with 1.8 million euros. Turnover for 2020 amounted to 76 million euros from 67 million euros in 2019.
In terms of EBITDA, it reached 11 million euros in 2020, compared to 10 million euros in 2019. Focusing on 2021, the group recorded a turnover of 83.5 million euros with an EBITDA of 13.5 million euros.
Respectively, the export turnover increased from 26 million euros in 2019 to 34 million euros in 2020. In 2021, exports reached 40 million euros. For 2022, the group’s executives estimate that the balance of sales in Greece and sales abroad will move at the level of 50-50.
At + 8% sales in Greece in 2021
At the same time, growth of 5% in 2020 and 8% in 2021 in the domestic market was recorded, with sales amounting from 40 million euros to 43 million euros.
The growth in Greece comes mainly from the strengthening of the market shares in the main product categories such as halva and tahini as well as from the expansion of the distribution with the entry of the company codes in more points of sale and in smaller stores.
In addition, new products with an innovative sign were included in the range of Haitoglou Bros. such as the bars of nuts and fruits without sugar and the tahini with pomegranate and cranberry. The installation of a new halva produced by mixing dark chocolate and hazelnut has already begun.
Apart from tahini, the group is also active in the production of peanut butter, where it partially maintains about 50% of the Greek market, while it also produces almond butter, while examining its gradual entry into other spread codes.
In terms of investment, the company incurs fixed costs of about 2 to 2.5 million euros per year for the upgrade and addition of mechanical equipment.
In fact, during the financial crisis, he implemented a broad plan that included investing in a new tahini packaging plant, the acquisition of the Bolero subsidiary and other moves, at a total cost of 100 million euros, which according to the same person are beginning to show handwriting samples. the time period we are going through.
In four months he was charged with the energy costs of one year
The same sources, referring to the difficulties that the market presents at the moment, stand on the particularly increased energy costs and the obstacles that are projected for the import of goods to Greece.
In fact, in the last four months, the Haitoglou group has been asked to pay an amount for energy costs, equivalent to what it would normally have to pay within a year.
In the field of imports, the lack of containers is intense, while the import of sesame, which is the main raw material for the preparation of halva and tahini, presents significant obstacles.
There is a growing interest from new countries such as Brazil to enter the cultivation of sesame, but the quality of the raw material does not yet have prominent characteristics.
The largest world exporter is India and the largest importer respectively is China. African countries such as Sudan have high quality characteristics.
In terms of sesame prices, this year they appear increased from 15% to 20% per ton. The price is currently around $ 1,700 to $ 1,800 per tonne, compared to $ 1,350 to $ 1,500 per tonne last year.
Source: Capital

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