![Coca Cola in Greece to invest 75 million euros in 2022 – 2023](https://www.ot.gr/wp-content/uploads/2022/10/cc2.png)
Coca-Cola in Greece is “running” an investment plan of 75 million euros for the 2022-2023, and this is cause for optimism according to Ms. Maria Anargyrou-Nikolits, general manager of the company for Greece and Cyprus, despite the adversities due to inflationary pressures, the energy crisis and the problems of the supply chain.
Investments
The company’s investments are focused on five axes: production process, digital transformation, sustainable development, people and market, as was mentioned during a press conference where the economic impact of Coca-Cola’s local activity in Greece was presented.
In particular, at the beginning of 2023 a new line will start operating at the Schimatari factory, while the investments in digital transformation are also very important for the company, with the aim of infusing 5G technology in the soft drinks and juices unit.
Since last year, the Schimatari factory has been producing the Monster energy drink, directed to foreign markets.
In the field of sustainable development, one of the company’s big plans is the installation of photovoltaic panels at the Schimatari factory with the aim of saving energy.
Price increases
In response to a question from the OT regarding the revaluations, Ms. Anargyrou-Nikolic said that from the beginning of 2022, on average, the increases in Coca-Cola 3E products in the domestic market are at 6.9%. However, she noted that the company has absorbed most of the increases in operating costs (energy, raw materials, distribution), while emphasizing that the goal of Coca-Cola 3E is to have proposals for all consumers.
The “household basket”
In terms of inflation, Ms. Anargyrou-Nikolic described the initiative for the “household basket” as very important.
She did point out, however, that “the right model of operation and application should be found in relation to the context of competition”.
Launch of Caffe Vergnano
In the direction of developing a 24/7 product portfolio after Costa Coffee, the launch of Caffe Vergnano, a premium Italian coffee company (Coca Cola HBC has proceeded to acquire 30% of its shares) is expected in early 2023 .
2023 also a “strong year”
After the very good tourist season in 2022, the company is preparing for an equally “strong year” in 2023 as well, investing in HO.RE.CA.
In 2019 the turnover of Coca-Cola in Greece amounted to 574 million euros. In 2020 it fell to 480 million euros (-16.3% compared to 2019), when in the same period, the country’s GDP shrank by 9%. In 2021 the company’s turnover amounted to 552 million euros (+15% compared to the previous year).
It should be noted that Coca-Cola in Greece generates almost 50% of the turnover of the soft drinks sector (48.5%), while it is also the largest employer, employing almost 1 in 2 workers (42.6%).
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Critical Week for Greece-Cyprus Cable](https://www.ot.gr/wp-content/uploads/2024/07/kalodio_elladas_cyprus_israil.jpeg)
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
![Roberta Metsola Re-elected President of European Parliament](https://www.ot.gr/wp-content/uploads/2024/07/2024-07-16T110250Z_1107936467_RC2BW8AZP0U4_RTRMADP_5_EU-PARLIAMENT-2048x1366-1-600x400.jpg)
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight