Karelia Tobacco Company remains stable in its positive business course, alongside its contribution to society as a result of its sound domestic and international business activity.
Victoria Karelia, president of the tobacco industry, stated: “We are committed to values and principles that govern every aspect of our corporate existence, we plan and implement a targeted, but also flexible strategy, which allows us to adapt to developments, laying the foundations for our dynamic course in the years to come. As our 135 years of history have taught us, sound entrepreneurship never leaves room for complacency, even in the most promising times.”
She added: “The company invests in quality and evolutionary innovation, while honoring its inseparable ties to its roots, its place and its history. At the same time, it maintains strong ties with society, actively supporting agencies and organizations for their distinguished action. In a particularly volatile business environment, with geopolitical tensions, intense inflationary pressures, instability in energy and transport costs, but also increases in tobacco taxation in the most important of the international markets, the group’s performance during the year 2023 was characterized as completely satisfactory, with increasing turnover, maintaining profitability at high levels and further strengthening cash reserves. Karelia’s investment program continued seamlessly during 2023, reaching 4.8 million euros in the context of the ongoing modernization of the Kalamata factory with state-of-the-art technology, adapted to the demands of the industry, as well as its international markets. For 2024, the investment plan is estimated at 10 million euros.”
