The year 2021 ended for Athenskaya Brewery with an increase in sales and profits, which is due, on the one hand, to the resumption of catering activities in May 2021 and the growth of tourism, and on the other hand, with the fact that the company took over the distribution of Bacardi products . In terms of current usage, the Athenian Brewery has not been left behind from the increase in energy consumption and the range of raw materials and secondary materials, from the price of barley to the price of glass and aluminum. Although he assesses the results of the first half of 2022 as quite profitable for the company, in his financial report he indicates that the consequences of the war may indirectly affect the company’s activities, but at present it is impossible to fully and reliably assess the moment. Already in 2021, when energy prices began to rise from the second half of the year, the company increased its energy costs alone by 1 million euros.

Thus, according to what is included in the Athenskaya Brewery’s 2021 financial report, its net sales, excluding excise tax, amounted to EUR 225.63 million last year, compared to EUR 179.13 million in 2020, recording an increase of 24.86. %. Total sales including VAT were €342.67 million in 2021 (€117.04 million including VAT), compared to €274.44 million in 2020 (of which €95.30 million including VAT).

The company’s pre-tax profit was 34.1 million euros, up 285.49% on 2020, and the company attributes this figure to the distribution of Bacardi products. We remind you that the distribution contract for Bacardi products lasts until March 31, 2026 with the possibility of extension. Profit after tax was €26.69 million in 2021, compared to €6.05 million in 2020.

beer market

Overall, the beer market in Greece and Europe did better in 2021 compared to 2020, but has not returned to 2019 levels. According to the Brewers of Europe study by the European Brewers Federation, beer sales in its focus channel in the Eurozone were 35% lower in 2021 compared to 2019. In general, beer sales in 2021, i.e. including those produced in the so-called “hot market”, in a supermarket and a small retail channel, were 7% lower compared to 2019. , while beer production was also down 11% from 2019. In 2021, there were 250,000 fewer jobs associated with the brewing industry than in 2019, the sector’s value-added fell by 10%, and government revenues fell by 13%, mainly due to losses of 5.2 billion euros from non-payment of VAT in the field of public catering.