Olympic Brewery maintains the strategy that focuses on three main points: growth in the cold market, strengthening of its portfolio as well as its leadership position in alcohol-free beers.
The company managed to record improved performance last year, which was an “unpredictable” year.
At the investment level, this year’s budget is expected to approach 10 million euros, which will be allocated for the modernization of mechanical equipment, fixed assets for the cold market (refrigerators, barrels, etc.) and innovation. In total, in the three-year period 2024-2026, the company is expected to proceed with investments of 30 million euros.
The new Managing Director of Olympic Brewery, Henrik Fredvig, stated during his first official meeting with the press representatives – “that the market recorded a 1% decrease in volumes last year.”
The company’s performance remained bullish, registering an increase of 3% in volume, 20% in turnover and an expansion of one unit in market share which reached 25%.
It is noted that in 2022, the turnover of the company amounted to 170.8 million euros, while the net sales (without VAT) amounted to 120 million euros. Investment in the cold market has been a strategic decision of the brewery since last year, while in terms of retail, the company seems to be slowing down, focusing mainly on small retail where significant growth rates are recorded.
The category of beer on the shelf is promo oriented, which, in conjunction with the new government measures against high prices, makes the commercial policy in the organized retail channel more complex.
It is recalled that Olympic Brewery was about to launch small-scale price increases for this year, but withdrew them in order to maintain competitiveness in its promotions.
At the same time, the focus is also on strengthening the portfolio with an emphasis on premium and non-alcoholic beers, as well as on the beer “Nisos” in which it participates with a minority stake. As Fredvig mentioned, “the company is not considering the possibility of increasing its participation in ‘Nisos”‘, nor proceeding – at least for the time being – with any corresponding acquisition of another microbrewery.”
