In Greece, Papadopoulos invests €59.6 mln in Volos plant producing Caprice — Cyprus Mail

In Greece, food manufacturer E.I. Papadopoulos SA increased its revenue to €252.52 million in 2025 and is continuing a €59.6 million investment to modernize its plant in Volos, where Caprice wafers are produced. This was reported by Cyprus Mail, citing the company’s financial statements filed with Greece’s General Commercial Registry.

Papadopoulos’ turnover rose by 3.7%, from €243.44 million in 2024 to €252.52 million in 2025. At the same time, profit before tax declined by 12.95% to €8.68 million, while net profit fell by 17.36% to €6.94 million.

Rising costs and workforce

Cost of sales increased from approximately €139.93 million to €147.51 million. Gross profit rose to €105.01 million, but the gross margin declined from 42.5% to 41.6%. Operating profit amounted to €9.21 million, compared with €10.65 million a year earlier.

Labour costs increased by 12.5% to €53.29 million. At the end of 2025, the company employed 1,796 people, compared with a workforce of 1,672 employees a year earlier. The company also faced pressure from high prices for cocoa and its derivatives, packaging materials, energy, storage and transportation.

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Sales of self-produced products increased to €233.88 million, while merchandise sales rose to €17.42 million. The company reported positive dynamics in the biscuit, cereal bar, rusk, breadstick and Krispies segments, as well as an expansion of its packaged bread range through the launch of TOST Psicha.

Production modernization

The investment program in Volos provides for new equipment, increased production capacity and automation using artificial intelligence and robotics. The project also includes hiring additional workers and is linked to the company’s plans to expand exports.

In 2025, Papadopoulos spent €8.63 million on tangible and intangible assets. Capital expenditure on tangible fixed assets reached €8.39 million, including €4.39 million for machinery and equipment. The company is also installing new equipment at a facility in the Municipality of Delta near Thessaloniki.

The company’s inventories increased by 21.7% over the year to €22.86 million, while cash and cash equivalents declined from €13.75 million to €5.66 million. Net bank debt rose to approximately €17.64 million, while equity increased to €151.68 million.