Agrino’s turnover reached 43.6 million euros in 2023 compared to 38.04 million euros in 2022, an increase of 14.6%.

Operating as well as net profitability showed a significant increase as a result of the strong growth of the rice-based ready-to-eat products category as well as the company’s ever-improving management.

Specifically, EBITDA amounted to 6.1 million euros and profits before taxes to 3.4 million euros.

The significant increase in the company’s turnover comes from the dynamic course of the category of healthy snacks-rice wafers and ready-to-eat rice-based products and less from product price increases.

It is emphasized that especially in rice, overall for Greece, the rates of price increase were clearly lower than the European average.

In addition and in accordance with Agrino’s policy of carrying out much lower price increases in relation to cost charges, mainly of raw materials, the total product price increase in 2023 is clearly lower than the average nationwide price increase in the sectors in which it operates.

In terms of nationwide market shares, in the main categories in which it operates despite the moderate decline, Agrino maintains its leading position in rice by a wide margin from second place, while in pulses it is in 2nd place.

The course of the new Quick Deli line of ready meals presented by the company at the end of 2022 is considered very positive.

Also, the relaunch of the “Greek Gourmet” range of semi-prepared meals with rice and risottos in the new packaging emphasizing the Greek origin of the ingredients was crowned with success.

In the category of rice wafers for 2023, the upward trend of sales and market shares continued, showing improvement in all subcategories.

The increase in the company’s exports by 20% is noteworthy.

The prospects are considered favorable for concluding agreements in target countries mainly in the EU and the USA with an emphasis on standardized branded rice and pulse products as well as in the snacks category.

In terms of investments, the state-of-the-art grain receiving, drying and storage unit at the Key of Imathia was put into operation in September 2023 during the rice threshing season.

At the end of 2024, all the actions of the largest investment program implemented by Agrino in its 70-year history, which amounted to 15 million euros, will be completed.

The design of the new five-year investment program will be completed in the coming months, so that it can be implemented in 2025.

On the occasion of the announcement of the financial results, the CEO of Agrino, Anastasios Pistiolas, said: “The company’s sales momentum for 2024 continues at a steady growth rate. It is noted that in March 2024 Agrino entered the chip category with globally innovative products with Greek brown rice and pulses as raw material. We look forward to an equally dynamic continuation, focusing on the consumer and our commitment to high quality products that meet modern market needss”.