Athenian Brewery – 18% decline in net sales in value and 19.2% in volume for 2020

The management of Athenian Brewery estimates that next year will put an end to the crisis caused by the pandemic, with 2021 being a year of adjustment.

In 2020, the company recorded significant losses, as stated in its financial report, however, its shareholders did not lose a single cent compared to the “normal” 2019, as they have received a dividend of 16 million euros.

For last year, the loss of sales volume in the domestic market was 19.2% compared to 2019. This translates into a decrease in sales value by 18% to 274.4 million euros (including beer excise tax) , while without the calculation of the Special Consumption Tax, net sales amounted to 179.1 million euros compared to 216.7 million euros in 2019.

Even greater were the losses in the company’s profitability, which, however, managed to maintain it in the black. At pre-tax levels, profits fell 69.5% to 8.8 million euros, while net results fell to 6 million euros, down 75.6%.

Despite the difficulties, however, the course of exports of Athenian Brewery in 2020 increased and now their contribution translates into a growth rate of 5% in volume reaching 10% as a percentage of total turnover.

Commenting on this year’s prospects, the management of the powerful brewery stated, among other things, that “given the conditions and the declaration of the pandemic for 2020, the company has intensified measures to recover commercial requirements to minimize risk, while its strategy regarding development of the Greek beer market remains unchanged. Management intends to implement measures for the company to continue its positive course, with the main axis of action centered on the effort to overcome the crisis that broke out with the pandemic in the most painless and smooth way in 2021, so that the company is able in 2022 to return to normalcy.”