Beverage World recorded an increase in revenue in 2023 as well as an expansion of its market share dynamics.
Maintaining the strategy of its “all around the clock” portfolio, the company shielded itself against multiple challenges, seeking, at the same time, a leading role in the production, marketing and distribution of alcoholic beverages and non-alcoholic beverages.
In this context, the company is looking for strategic investment opportunities, as it did in 2022 in Siris Microbrewery, while it did not rule out the possibility of business developments soon.
As the general manager of the company Giorgos Makrigiannakis said to “Naftemporiki”, “2023 sees Beverage World with a 16% increase in value, compared to last year, which comes mainly from increases in volume, premium mix, all the categories in which the company operates, and by a smaller percentage in revaluations. In the coffee category, we are gaining a larger share, while in the categories where we hold a leadership position, such as ground coffee and supermarkets, we are maintaining or further strengthening our position.”
The growth in the remaining categories where we operate – alcoholic beverages, beer, etc. – in addition to the reasons we mentioned above (volume, premiumization and price increases) is also based on the continued strengthening of our portfolio, with innovations, additions and the launch of new products.”
Regarding the forecasts for this year’s revenue path, Makrigiannakis pointed out: “Given that we operate in the entertainment industry, which is not the number one priority on consumers amid such a volatile environment, we think that 2023-24 and perhaps 2025, due to our relatively more fragile economy, will be a period of transition, possibly stagnation, before recovery. In this context, we view the near future with moderate optimism, with a possible slowdown in our growth for 2024, which may even reach a single-digit rate.”
Regarding the possibility of a new strategic investment in Greece, he noted: “We are in constant development and growth – this is, after all, in the DNA of the company. The group sees that the Greek economy develops positively in the long term, so accordingly there is a plan for further investments. We are currently monitoring the economic developments and how the market is moving, and I believe that we will make announcements soon.”
