‘Roller mills K. Sarantopoulos’ responds to the Hellenic Capital Market Commission on the effects of the war in Ukraine

The company Kylindromyloi K. Sarantopoulos, in response to a relevant question of the Hellenic Capital Market Commission regarding the effects that the recent developments in Russia and Ukraine have on its activity, issued a relevant announcement announcing the following:

“The Group does not sell in these countries.

During the year 2021 and during the year 2020, the Group purchased wheat (which is the raw material for the Flour Industry) originating in Russia and Ukraine, through third party suppliers. These markets, for the year 2021 represent approximately 32% of the value of the total wheat markets of the Group, while for the year 2020 29.5% respectively.

Russia and Ukraine are, as is well known, the granary of Europe. The military conflict between these two countries, according to the Administration, which is based on the opinions of international analysts, will disrupt the supply of European (and not only) countries with wheat of this origin, which in turn will affect production costs. flour. At this stage it is not possible to assess the impact of the Russo-Ukrainian conflict on the Turnover, Results and Financial Position of the Company and the Group.

The Management of the Company, closely following the relevant developments and the consequent problems of wheat supply, is oriented to the other wheat markets (to which it has access anyway) with a view to the uninterrupted supply of its production process and the retention of the inevitable if possible cost of the final product.

Finally, the Management of the Company wishes to remind that during the long operation of its Flour Industry (founded in 1912 in Piraeus as a sole proprietorship of Konstantinos I. Sarantopoulos) it has been faced with many and various deplorable situations, which it managed and overcame successfully adapted “.