A good year for the Boutaris wines

A good year for the Boutaris wines

The company created by Yannis Boutaris achieved the best performance in its history, with net profits reaching two million euros. Estimates for the future.

A quarter of a century after it was founded in 1997 by Yiannis Boutaris (pictured), when he left the family wine company his grandfather had created in 1879, Kir-Yianni achieved its best performance in its history last year. In terms of sales, EBITDA and net profit.

Sales of the winery, which controls 39.02% of the Sigala Estate and is managed by Stelios Boutaris, increased 12% to €12.091 million, EBITDA exceeded €3.621 million (€3.182 million in 2021), net profit reached €1.973 million (€1.777 million in 2021), while the number of employees increased by 18.27% to 110 people.

The objective of its management is, despite the adverse market conditions, as stated in its financial statements, to continue its upward trend and improve its financial position by taking all necessary measures to collect debts from its customers. Last year the company’s receivables from customers exceeded 2.11 million euros from 786,260 euros in 2021.

However, the management, although it believes that the company has growth prospects, avoids making a specific forecast for the future, stating “in such a landscape it is difficult to make predictions even for the near future. The company has prepared for a year in a very difficult and volatile market environment. It is alert to meet the challenges ahead.”

Kir Yianni’s performance last year certainly satisfies its shareholders and shows that the industry, despite all the problems and big-name canons that have rocked it in recent times, has potential. But let us not deceive ourselves. The Greek wine sector remains low on the world map, both in terms of production and in terms of penetration of international markets.

According to the International Organization Of Vine and Wine (OIV), the top three wine producing countries in the world are Italy, France and Spain. The three European countries account for 51% of world wine production. Among the other major EU countries, Germany was the only one to see a 6% rise in wine production levels last year, due to a dry and warm growing season that was beneficial for vineyards. All other main wine producing countries recorded negative fluctuations in production levels. In Greece, ranked 19th in the world, production fell 14% compared to 2021.