Chipita completes new investment in Mexico

Chipita investment in Mexico
Spyros Theodoropoulos, CEO of Chipita SA

Even within the COVID-19 pandemic, Chipita, one of the leading and amongst the fastest growing food companies in Greece, has not been idle. The company has recently completed a brand-new factory in Mexico, thus strengthening its presence in the Central American market. In addition, in 2019 the Athens-based group has doubled production at its factory in Poland in order to cover increased demand for its products in the wider region. Finally, as regards the new plant in Slovakia, operation is expected to start in early 2021.
Furthermore, and according to its initial planning, Chipita intends to start implementing its investment plan for the next four years to carry out its medium-term development plan. This will allow the company to continue supporting the upward trend in its sales through the launch of new products, the creation of additional production units and its further penetration into markets such as the US.

Strong exports and sales

Regarding exports, Chipita has shared that Germany, the UK, Russia, as well as countries in Central and eastern Europe have shown significant increase in sales. Its enhanced presence in existing and new markets is, according to the company, one of the factors that contributed to the positive results. Chipita sales were up last year by 11.2% amounting to €567.4 million, while the adjusted EBITDA increased by 10% compared to the previous year, amounting to €83.3 million, and equity increased by €60.5 million.
During the first trimester of 2020, the company continued to grow both in sales and profitability. “There is no doubt that the conditions shaped by the pandemic have created challenges for both the global and national economy,” states the company.

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