Sales of the consumer goods group (cosmetics, sunscreens, personal care products, etc.) are growing. Saranti and during the first quarter of 2023, continuing the positive results recorded in the previous year in the countries where it operates. At the same time he is on his radar new acquisition from her area Romania. So, as noted by Kostas Rozakeas, deputy managing director and chief financial officer of the group, in the context of a conference call following the results of 2022, sales grew by 24% (nominal growth) in the first quarter of this year with the profit margin (ebit) to work better due to the stabilization of the cost raw materials and packaging materials recently.

If we remove the seasonal sales of Easter products that began earlier this year, then the percentage of sales growth compared to the same period last year reaches 18%. This increase is due to the strengthening of the Sarantis Group’s market share and is mainly related to the volume of product sales, given that there were no significant price increases during this period.

The best markets for the group are Greece, Romania, Poland and the Czech Republic, with Mr. Rozakea noting that despite the effects of the war, Ukraine is also performing well. Recall that the activities of the subsidiary of the Ergopack group in Ukraine were suspended for 1.5 months last year due to Russia’s invasion of the country. The Group is awaiting approval of the acquisition of Stella Pack, a Polish company producing household goods, from the competition authorities, a process that could be completed in 1-1.5 months, while discussions on the acquisition have again begun with a company operating in the relevant sector in Romania. They were “frozen” as the completion of the Stella Pack acquisition was expected, and management did not rule out the possibility of news in 4-6 months.

The Group is free to work with Estee Lauder’s competitors by developing product launch partnerships following the sale of its 49% stake in a joint venture with Estee Lauder, ELCA Cosmetics. It is recalled that group sales in 2022 amounted to 445 million euros from 406.3 million euros, showing an increase of 9.6% both in value terms and in sales volume, while in terms of profitability last year it there was pressure. Gross profit increased by 5.8% to €151.8 million, while EBITDA decreased by 4.9% to €45.5 million.