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Olympic Brewery plans to invest €12,2M more in Syndos premises

20 October 17 - RE+D Magazine
Olympic Brewery plans to invest €12,2M more in Syndos premises

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Antulio Richetta

Director IBI Group
Olympic Brewery SA, a member of Carlsberg Group, is continuing to implement its investment programme despite the fact that the Greek beer market is shrinking.

 

Dejan Beko, the CEO of the company, on Wednesday said that Olympic Brewery has planned investments worth 45 million euros in 2014-2019 and has recently completed an investment project worth 3.2 million euros in its production factory in Sindos, Thessaloniki, to build a new production line.

Olympic Brewery is investing 4.6 million euros in Sindos this year and plans investments of 12.2 million euros in the 2015-2018 period.

The factory has an annual production capacity of 4.6 million litres of beer.

Beko, however, said that according to official data the domestic beer market shrank 10 pct in the January-August period, although conditions improved in the second half of the year because of a big increase in tourist arrivals.

Olympic Brewery raised its domestic market share to 29.1 pct (finance ministry data) and to 31.6 pct (IRI data). Last year's sales totaled 146.857 million euros, up 15 pct from 2015, pre-tax profits totaled 1.82 million euros and net losses totaled 1.137 million euros.

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