Nikas group: 43.45% sales increase during first half of 2020

Nikas Sales Increase

Total net sales of the P.G. Nikas Group increased by 43.45% in the first half of 2020 compared to the previous period, and amounting to €28,260 thousand. As announced, The company increased its share in the total meat market in terms of volume by 4.1 percentage points, from 17.6% in the first half of 2019 to 21.7% in the current period.
At the same time, gross profit increased by 40.83% compared to the same period last year, amounting to €5,923 thousand, while the gross profit margin remained at the same levels despite the price increase in the international meat market.
The group’s EBITDA was also up by €845,000 compared to the one in 2019 and amounted to €781,000 compared to losses of €64,000 during the same period last year. The earnings before tax (EBT) results of the group increased by €1,065 thousand and amounted to losses of €839,000 compared to losses of €1,905 thousand in the previous period.
The group’s managing director, Ms Angeliki Oikonomou stated in this regard: “The Nikas group, after a years ofnegative results, has achieved a significant increase in sales and profitability despite the historically high prices of meat recorded over the period covered. We expect that our positive course will continue, despite the general uncertainty on the market due to the COVID-19 pandemic, further improving our numbers”.

Nikas SA – Profile

Nikas has established itself as a synonym for cured meat and has created a history of its own.  The company was founded in 1966 as a point of departure for one man’s vision to create unique cured meat products based on excellent quality and top safety. Today, after more than 50 years, the company is still creating and offering not only quality but also safe cold meat products. Loyal to its long tradition, Nikas has established its place around the family table offering tasty, quality and innovative products for the whole family.

READ MORE: Meat Sector