Table of Contents
- 1 Significant increase in profits for the Achaean winery Cavino
- 2 The secret of success
- 3 The wineries and the structure of the group
- 4 Investments in infrastructure
- 5 The affidavit’s note
- 6 **What specific strategies has Cavino implemented to overcome the challenges of a turbulent domestic market and achieve its significant export growth?**
In an era of intense “fermentation” in the domestic wine market, with the big “players”, such as Tsantalis, Boutaris and Kourtakis having weakened, the quiet Aegio Winery – Distillery, better known as Cavino, confirms for another year her leadership role.
The small winery of Aigio, created in 1958 by Konstantinos Anastasiou and Ioannis Douskas, has now developed into the largest wine industry in the country in terms of economic size, with a turnover exceeding 33.73 million. euros in 2023, increased by 9.4% compared to 2022, while at group level it was 32.56 million. euros from 29 million the previous financial year.
Significant increase in profits for the Achaean winery Cavino
At the same time, the “glass” of profits is also full, as for another year they moved upwards.
The group’s EBITDA increased by 26% compared to 2022 and reached 4.05 million. euros from 3.21 in the previous year. Also, consolidated net profits increased by 19%, to 1.96 million. euros for an amount of 1.65 million euro in 2022.
In fact, the representatives of the second generation who “run” the Achaean winery: Yannis Anastasiou, CEO of the group and Theodoros Anastasiou, president, aim to further improve its results, mainly through an increase in its revenue despite the significant market difficulties and a simultaneous decrease of operating and non-recurring expenses.
“The acquisition of its two subsidiaries Helliniko Tsipouro and Babatzim will help to increase the dynamics of the group in the coming years,” it states in the financial statements for 2023.
The secret of success
The secret of Cavino’s enduring success is that since its foundation, almost 70 years ago, until today, more than 60% of its annual production is exported to 50 countries around the world in Europe (Germany, Holland, Belgium, Luxembourg, United Kingdom, Denmark, Sweden etc.) and America (USA, Canada).
Cavino is currently the largest Greek exporter of bottled wines, with exports accounting for 64% of its annual turnover, i.e. 21.659 million. euros in 2023, from 18.929 million euro in 2022.
The wineries and the structure of the group
The group is made up of the AEGIOU Winery – Distillery Anonymous Industrial Company with the distinctive title “KAVINO SA”, the company “MEGA SPILIAO MON IKE”, “ANESTIS BABATZIM SA” which was converted into a limited liability company in 2023 and the company with the distinctive title “HELLINIKO TSIPOURO MON IKE”.
It is recalled that in 2022 the group acquired two new subsidiaries, “Hellenic Tsipouro” and “Babatzim”, one of the emblematic distilleries – wineries of Northern Greece, which was pressed after the death of Anestis Babatzimopoulos.
Investments in infrastructure
In April 2019, an investment program with a total value of 4.5 million was approved. approximately €1,000,000, the implementation of which was completed within 2023, while within the same financial year another investment plan of the company was completed in the amount of €1,000,000 which concerns the modernization of its distillery and distillery.
Over the last three years, the company has installed a 1 MW PV system and upgraded its existing building infrastructure, thereby significantly reducing its environmental footprint.
The affidavit’s note
The Affiant, however, has a note in his report regarding doubtful and disputed claims.
Specifically, it states: “In the financial statements section “Commercial and other receivables” are included doubtful and disputed receivables, for a total amount of € 2,500 thousand. for which no relevant provision has been made to cover losses from the non-liquidation of part of these claims. Based on our audit, we estimate that the provision formed by the company in the amount of € 1,227 thousand. shortfall by € 1,273 thousand approximately, of the amount that should have been formed. The non-formation of the required provision constitutes a deviation from the accounting principles, provided by the IFRS, with the consequence that the value of the receivables and the equity appear increased by € 1,273 thousand. approximately and the results of the closing year should appear increased by € 143 thousand. about”.
Source: ot.gr
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**What specific strategies has Cavino implemented to overcome the challenges of a turbulent domestic market and achieve its significant export growth?**
## World Today News: Interview with Cavino Executives
**Introduction**
Welcome to World Today News. Today we’re discussing the remarkable success story of Cavino, the largest wine industry in Greece, and its continued rise amidst a turbulent domestic market. We’re joined by two key figures: Yannis Anastasiou, CEO of Cavino Group and Theodoros Anastasiou, President of Cavino Group. Gentlemen, thank you for joining us.
**Section 1: Defying the Odds – Cavino’s Success Story**
* **Interviewer:** Cavino has achieved phenomenal growth in a challenging market, surpassing even established giants like Tsantalis, Boutaris, and Kourtakis. What are the key factors behind this sustained success, particularly in such a competitive landscape?
* **Interviewer:** The article highlights your strong focus on exports, with over 60% of production going to 50 countries worldwide. How did Cavino develop such a robust international presence, and what are your strategies for further expansion in the global market?
**Section 2: Investing in the Future – Balancing Growth and Sustainability**
* **Interviewer:** Cavino has made significant investments in infrastructure and modernization, including a substantial commitment to renewable energy. How do these investments contribute to both the company’s long-term growth and its commitment to sustainability?
* **Interviewer:** Looking ahead, how does Cavino plan to navigate potential economic challenges and maintain its market leadership in the face of evolving consumer preferences and trends?
**Section 3: The Acquisition Strategy**
* **Interviewer:** The recent acquisition of “Hellenic Tsipouro” and “Babatzim” seems to be a strategic move towards diversification. How will these acquisitions contribute to Cavino’s overall product portfolio and market reach?
* **Interviewer:** Some analysts have suggested that these acquisitions could also present challenges in terms of integration and cultural differences. How does Cavino plan to ensure a smooth transition and leverage the strengths of these established brands?
**Section 4: Financial Transparency and Concerns**
* **Interviewer:** While the financial results paint a positive picture, the auditor’s note on doubtful and disputed receivables raises some concerns. How does Cavino address these concerns and ensure financial transparency in its operations?
* **Interviewer:** What steps are being taken to mitigate the potential risks associated with these doubtful receivables and ensure the company’s financial health in the long run?
**Conclusion**
* **Interviewer:** Thank you both for providing such insightful perspectives on Cavino’s remarkable journey. Your commitment to quality, innovation, and responsible business practices clearly sets a great example for the industry. We wish you continued success in the years to come.
This format allows for a comprehensive and engaging discussion, encouraging the guests to elaborate on key issues and provide their unique perspectives.
