Kri-kri Milk Industry S.a.ATHEX: KRI

Analysts' brief FY2025 results (April 2026)

· Issued by Kri-kri Milk Industry S.a.


Authentic products drive sustainable growth

ANALYSTS' BRIEF

2025 FULL YEAR RESULTS

April 2026

Financial Results 03

Profit and Loss FY 2025 FY 2025 Δ% yoy Statement Margins

€m

FY 2024 FY 2024

Sales

328,8

256,4

28,2%

Gross Profit

88,8

76,1

16,6%

27,0%

29,7%

Operating Expenses

46,7

38,9

20,1%

14,2%

15,2%

EBITDA

48,3

42,6

13,4%

14,7%

16,6%

EBIT

42,1

37,2

13,0%

12,8%

14,5%

EBT

41,9

37,6

11,5%

12,7%

14,7%

Profit after tax

34,1

34,5

-1,3%

10,4%

13,5%

Subsidies on CAPEX

1,4

5,3

Financial Results 04

FY 2025 Rev.Est.







€m

Ice-cream raw materials

1,1

Increased waste

1,0

Increased transportation cost

0,7

ERP upgrade

0,3

3,1

€m Cost overruns

Sales

328,8

>300

EBIT

42,1

>42

EBIT margin

12,7%

~14%

Input costs 05

58,0

56,0

54,0

52,0

Raw milk price (€/100Kg)

Middle East conflict impact

  • Difficult to estimate the impact, if conflict lasts long

  • Estimated surcharge:

  • Lower dairy commodities prices offset the most part

    50,0

    48,0

    46,0

    44,0

    Cost

    €m Δ price surcharge

    Packaging

    12%

    2,5

    Energy

    35%

    1,5

    42,0

    40,0

    m1 m2 m3 m4 m5 m6 m7 m8 m9 m10 m11 m12

    Transportation 10% 1,5

    5,5

    Greek 2025 Greek 2026 EU 2025 EU 2026

    Segment review Yogurt exports 06

    188,2

    Greek yogurt market size

    Key Highlights

    UK

    319

    218

    146

    106



    • Strong growth in major markets:

      UK +63%, Italy +25%

    • Yogurt exports now represents 69% of total yogurt sales

      Sales EBIT

      2025 2024

      Sales +45,7%

      EBIT +40,6%

      2022 2023 2024 2025

      IT

      544

      432

      362

      287



      129,2

      30,0

      21,3

      Source: €m in retail prices, Circana (2025)

      Source: €m in retail prices, Nielsen (2025)



      2022 2023 2024 2025

      Segment review Yogurt Greece 11

      75,9

      5,2

      6,6

      83,3

      Sales EBIT

      2025 2024

      Key Highlights

      • The market has entered a growth phase, showing an increase of +10,3% in value and +7,1% in volume.

      • Leading supplier in private label. Inflation turns more consumers to value for more affordable options

      • Branded yogurts market share declined

        Sales +9.8%

        EBIT -22,2%

        Segment review Ice cream 12

        39,6

        36,7

        GR

        5,3

        7,2

        15,1

        Key Highlights

        11,9

        EX

        1,7

        1,0

        GR

        • Expansion of our sales network

        • New ice-creams launched

          Sales EBIT

          2025 2024

          Sales EBIT

          2025 2024

          EXPO

        • Strong growth in sales

        • Exports development with "Greek Frozen Yogurt"



        • Expansion of our PL contracts

Sales

+8,0%

Sales

+26,7%

EBIT

-26,9%

EBIT

+69,1%

EBIT is expected to be around €60m.

IFRS - €m 2026

Sales >390

EBIT ~60

2025 Δ% 2024

328,8 18,6% 256,4

42,0 42,9% 37,2

CAPEX is expected to be between €26m to €30m.

CapEx

Estimates for 2026 13

Sales Growth

Total sales are expected to exceed €390m

in 2026.

Profit Margins

Share information 14

Share information Shareholders' structure Contact information

Market: Main market

Ticker symbols:

Euronext Athens: ΚΡΙ Reuters: KRIr.AT Bloomberg: KRI GA

ISIN code: GRS469003024

5,8%

10,3%

+30 23210 68300

investors@krikri.gr

website:www.krikri.gr

14,0%

No of shares: 33,065,136

69,9%



Sector: Food & Beverage

Tsinavos Family : 69,9% Institutionals abroad : 14,0% Institutionals domestic : 10,3% Individuals : 5,8%

KRI KRI S.A. MILK INDUSTRY 3rd km Serres-Drama Serres PC 62125 Greece

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