The finances of ION which confirm the movement of Sp. Theodoropoulos

By Giorgos Lampiris

When the businessman Spyros Theodoropoulos decided to enter ION, having examined a number of factors such as the strong brand and the timelessness of the business, in which he signed an agreement to acquire shares, he also had in front of him a strong and robust business entity. We remind you that Spyros Theodoropoulos has acquired 45% of the company’s shares with the prospect of acquiring the majority in the coming years. After all, this is what is reflected through the financial statements of the company, which are a silent but undeniable witness of its progress. This practically means that in 2021 its turnover was increased by 2.89 million euros. A distribution of profits to shareholders amounting to EUR 3.97 million was also made within 2021 for the 2020 financial year.

So the fact is that ION during 2021 managed to increase its turnover to 121.69 million euros from 118.9 million euros in 2020, recording gross profits of 47.93 million euros from 47.1 million euros respectively in two years. In terms of net profits before taxes in 2021 they amounted to 13.2 million euros, compared to 11.69 million euros the previous year. The company’s total borrowing amounted to 42.99 million euros for the fiscal year 2021 compared to 44.92 million euros for the fiscal year 2020, reduced by 1.93 million euros, as part of the borrowing was repaid.

Stability in Greece, strengthening of exports

In a year like 2021, where supermarkets in Greece increased their turnover even more compared to the already increased turnover of 2020, drawing further impetus from the pandemic, ION domestically remained stable in sales. It was nevertheless strengthened in terms of its financial figures by its international sales. In particular, in Greece its sales last year were 102.96 million euros from 102.8 million euros in 2020 with a marginal increase of 0.02%. On the contrary, in exports, sales were 13.73 million euros from 11 million euros in 2020 and actually increased by 24.8%. In this case and taking into account the extroversion displayed by Chipita and the model implemented there by Theodoropoulos, exports could have even more room for growth for an otherwise domestically supported company in terms of sales.

Bulgaria, Egypt, Cyprus, Albania, the USA, Libya and Russia had the most traffic. Our sales in Bulgaria with NUCREMA products as well as exports to Russia are covered by our subsidiary unit in Sofia. 41% of all exports were to the European Union and the rest to third countries.

In 2021, ION invested 4.82 million euros, continuing the investment program it had started implementing in 2020 with investments of 4.94 million euros. In fact, the company announces new moves to upgrade and renew its mechanical equipment.

Another factor that makes ION constantly dynamic and interesting is its innovative strategy and the renewal of its product portfolio. Thus, in 2021 it made specific moves, launching new products that were specifically the following:

1) MILK ION chocolate “SMOOTH AND CREAMY”
2) “DOUBLE” MILK ION chocolate
3) Milk Chocolate BREAK ME CRUNCHY POP CORN
4) “SELECTION” chocolate bars
5) COVERTOURA chocolate 60% COCOA
6) ION COMPOUND MILK
7) ION COMPOUND WHITE
8) Chocolate ION DARK “NO ADDED SUGAR” ME SUPER FRUITS
9) NUCREMA ION 30% LESS SUGAR
10) ION PROTEIN CARAMEL
11) “VEGAN” ALMOND ION
12) “VEGAN” HAZELNUT ION

ION currently has three production units in Neo Faliro, Arta and Markopoulo, Attica, while its headquarters are located in the area of ​​Neo Faliro. In addition, it maintains investment properties in the Kostinbrod region of Bulgaria as well as in the city of Plovdiv in the same country.