Earnings release
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[1] ΚΡΙ-ΚΡΙ ΒΙΟΜΗΧΑΝΙΑ ΓΑΛΑΚΤΟΣ ΑΒΕΕ 3ο χλμ. Σερρών – Δράμας, 62125, Σέρρες Τηλ: +30 23210 68300 email: info@krikri.gr website: www.krikri.gr ΑΦΜ.: 094289571, Αρ. ΓΕΜΗ: 113772252000 KRI-KRI MILK INDUSTRY S.A. 3rd km. Serres – Drama, 62125, Serres, Tel: +30 23210 68300 email: info@krikri.gr website: www.krikri.gr VAT no.: EL094289571, Reg no: 113772252000 Serres, 23.9.2026 P r e s s r e l e a s e KRI-KRI Milk Industry has released its interim financial statements for the first half of 2026. Turnover amounted to €203.90m compared to €161.90m in H1 2025 (an increase of +25.9%). Basic profitability measures were as follows: • EBITDA amounted to €42.89m compared to €26.10m in H1 2025, • Profit before tax amounted to €39.14m compared to €23.01m in H1 2025, • Lastly, net profit after tax amounted to €36.1 7m, compared to €19.45 m H1 2025. It is noted that, during the current financial year , income tax expense was reduced by €5.67m as a result of the recognition of the tax exemption benefit following the receipt of investment completion certifications under Law 4399/2016 (2025: €1.43m). Yogurt segment remained the primary contributor to the Company’s growth . Y ogurt sales increased by 35,3% in value and 28,6% in volume. Sales in overseas markets continue to record strong growt h. Yogurt export sales increased by 46.8% in value. The rapidly growing demand for authentic Greek yogurt across European markets further strengthens the category’s growth prospects, creating significant opportunities for the Company. KRI -KRI continues to successfully capitalize on this strong market momentum. Notably, in the Company’s two major overseas markets, the United Kingdom and Italy, yogurt sales increased by 67% and 31%, respectively. Yogurt sales, in the domestic market, exceeded € 43m, presenting an increase of 9.6% in value. At the same time, the overall market maintained its growth momentum, increasing by 11.3% in value and 8.6% in volume [Circana data (ex. IRI), Jan.–Jun. 2026]. In terms of market conditions, the consumer shift towards private -label yogurts continues, mainly driven by the significant price differential compared with branded yogurts. Within this highly competitive environment, KRI -KRI maintained its second position in the Greek yogurt market, with a 12.9% market share in value, compared to 13.7% in 2025 [Circana data (ex. IRI) in value, Jan. -Jun. 202 6], reflecting the continued strength of the KRI -KRI brand and strong consumer confidence in its products. In the ice cream segment, KRI -KRI maintained its position in a market that continued to be affected by challenging consumption conditions. The domestic market recorded a decline of 4.3% in volume and 1.5% in value [Circana data (ex. IRI), Jan.-Jun. 2026]. KRI-KRI’s sales followed the overall market trend, recording a slight decrease of 1.8%. During the remainder of the season, ice cream sales followed a similar trend, compared to 2025.
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[2] In terms of investment activity , the Company continues to implement its investment programme, focusing on expanding production capacity and upgrading the technology and infrastructure of its yogurt and ice cream production facilities. Capital expenditure on plant, machinery and buildings exceeded €8m in H1 2026. For the full year 2026, total capital expenditure is expected to be in the range of €26–30m. For the remainder of the financial year 2026, KRI KRI’s Management expects the strong sales growth momentum to continue. Based on the current outlook, total sales are expected to approach €40 0m, primarily driven by the continued growth in yogurt exports. However, the disruption in international markets resulting from geopolitical developments in the Middle East appears to be more prolonged and pronounced than initially anticipated. This has led to increased cost pressures across key raw materials, packaging materials, energy and transportation, affecting the Company’s overall cost base. Under the current circumstances, and provided that these pressures do not materially ease during the final quarter of the year, KRI KRI’s Management expects full-year Earnings Before Interest and Tax (EBIT) to be slightly below the initial target of €6 0m, in the range of €57–58m. Despite these near-term pressures, the Company continues to expect strong growth and high profitability in 2026, maintaining the positive performance of recent years. KRI-KRI’s strong growth is directly reflected in increased employment and a stronger regional econom ic footprint . During H1 2026, the average number of the Company’s employees reached 833, an increase of more than 10%. KRI -KRI’s strategy for sustainable growth encompasses the continued creation of new jobs and an extensive investment programme, generating a positive economic and social impact.