KRI-KRI Milk Industry has released its financial statements for the first quarter of 2025. Its turnover amounted to €66.38m compared to €52.48m in 2024 (an increase of +26.4%). Basic profitability figures were as follows:

• EBITDA amounted to €10.49m compared to €9.86m in 2024,
• Profit before tax amounted to €8.98m compared to €8.72m in 2024,
• Net profit after tax amounted to €7.25m compared to €6.82m in 2024.

In the yogurt segment total sales increased by +25.4% in value and +24.2% in volume. Yogurt export sales continue showing a strong growth of +38.8%, exceeding €40m. Thus, exports now account for nearly 70% of total yogurt sales. Key growth drivers are the major markets of the UK (+54) and Italy (+18%).

In the domestic Greek yogurt market, our sales exceeded 18.3m, increased by +3.5% in value. As far as the market developments are concerned, the shift of consumers to private label yogurts continues, as they look for value-for-money products. Thus, the yogurt private label market share reached 37.5% in volume, applying strong downward pressure on branded yogurts. That constant pressure has led KriKri branded yogurts to a market share loss (-2.4 percentage points). The market share of KRI-KRI branded yogurts is 13.4%, maintaining the second position in the market [Circana data (ex. IRI) in value, Jan.-Mar. 2025].

In the ice cream sector, where the first quarter is not representative of the annual results due to the high seasonality, domestic sales reached €3.92m compared to €3.66m in 2024 (an increase of+6.9%).

As far as our investment activity is concerned, KRI-KRI has already started implementing its three-year investment plan, named "Greek Yogurt Dynamo," with a total budget of €52.2m. The Company has applied for a state subsidy for the plan, under “Strategic Investments” initiative. The plan focuses on increasing the production capacity for yogurt and ice cream, to improve efficiency and to promote sustainable growth. During the first quarter of 2025, fixed asset purchases amounting to approximately €4.5m were carried out. For the full year 2025, total investments are expected to range between €21m and €25m.