Barilla Hellas succeeded to demonstrate resilience in 2023 and achieve recovery from the previous yearregistering a significant improvement in its financial performance.

According to a relevant announcement, the main pillar of the positive results was the development dynamics of Eastern Europe, with a key exponent of the upward trend Barilla Romaniathe enhanced export effort which increased by 19% on an annual basisthe exploitation of international market opportunities as well as investments in sustainable practices in the supply chain.

“The improvement even came amid strong challenges and adverse external conditions in 2023 for all businesses globally such as geopolitical instability and economic uncertainty. Geopolitical instability kept markets uncertain, with energy and commodity prices remaining high, driving up operating costs, while lending rates remained high as central banks struggled to deal with inflationary pressures. These factors continued to put pressure on the purchasing power of consumers, who increasingly turned to private label products, affecting the companies’ results,” the same statement said.

In particular, the consolidated turnover amounted to 124.5 million euros against 115.5 million euros in 2022, marking an increase of 7.7%. Consolidated gross profit was formed to 51.6 million euros from 40.7 million euros in 2022, increased by 26.8 and the profit margin amounted to 41.5%. It is noted that although Barilla Hellas’ profit margins have improved significantly in 2023, they have not yet returned to pre-COVID-19 levels.

In Greece, energy prices in 2023 remained high but stable. Competitive pressures remained strong, while the normalization of raw material and durum wheat prices from the second half of the year had a positive impact on production costs. By 2023, Barilla Hellas has completed a major “green” investment with the installation of photovoltaic panels in the factory and mill. This sustainable initiative reflects its commitment to environmental management and contributes to operational cost savings, strengthening the company’s financial strength.

The management of Barilla Hellas is monitoring developments and evaluating the situation, ready to take all necessary measures to minimize the effects of any negative developments on the company’s activities. For 2024, the management remains optimistic about the continuation of the positive performance achieved in 2023, with the axes of better utilization of the Greek market, the development of activities in Eastern Europe and the continuation of investments in Greece.

Barilla Hellas CEO Carlo Mereghetti said: “The positive financial results of 2023 reflect the hard work and dedication of our team. Through our export efforts and investments in sustainable energy, we have been able to improve our profit margins and ensure steady growth.”