Kri-Kri Dairy reported a remarkable 26.5% increase in turnover, reaching 66.38 million euros in the first quarter of 2025, up from 52.48 million euros in the same period last year. The company’s operating profit (EBITDA) rose to 10.49 million euros, compared to 9.86 million euros in 2024. Pre-tax profits reached 8.98 million euros, up from 8.72 million euros the previous year, while net profits after taxes amounted to 7.25 million euros, compared to 6.82 million euros in 2024.
In the yogurt sector, overall sales experienced a 25.4% value increase and a 24.2% rise in volume. International sales continued to thrive, boasting a growth rate of +38.8% and exceeding 40 million euros, now constituting almost 70% of the company’s dairy activity. Significant growth was noted in key markets, with the United Kingdom up by +54% and Italy by +18%.
Trend Towards Private Label Yogurts
The domestic yogurt market saw sales surpass 18.3 million euros, reflecting a 3.5% value increase. The announcement highlighted a notable shift in consumer preferences toward private label yogurts, driven by demand for more cost-effective options. Currently, private label yogurts hold a 37.5% market share by volume, putting pressure on branded yogurt sales. KRI-KRI branded yogurts experienced a decline of 2.4 percentage points, now maintaining a market share of 13.4%, and ranking second in the market according to Circana data for Jan.-Mar. 2025.
In the ice cream sector, where the first quarter is often impacted by seasonality, domestic sales reached 3.92 million euros, marking a 6.9% increase from the corresponding period last year, which saw 3.66 million euros.
Three-Year Investment Initiative
KRI-KRI is in the process of executing its three-year investment plan, dubbed the “Greek Yogurt Dynamo,” with a total budget of 52.2 million euros. This plan seeks to qualify for the provisions of Law 4864/2021 as a Strategic Investment. The initiative focuses on expanding capacity in yogurt and ice cream production by modernizing and upgrading manufacturing processes, thus enhancing efficiency and promoting sustainable development. In the first quarter of 2025, fixed asset purchases amounted to approximately 4.5 million euros, with total investments projected to range between 21 to 25 million euros during the 2025 fiscal year.
