With a sales growth rate above the market average in 2021 and an increase in market share, Olympic Brewery maintains moderate optimism for this year, despite the significant challenges in terms of inflationary pressures and crisis in the supply chain.
Continuing its investment plan smoothly, the company enters the new “normality” strengthened, due to the trends and habits, the purchasing power and the mix of channels. And as Katerina Tsintsifa, ISC Director of Olympic Brewery, told OT, that the Greek market, where catering and tourism play a key role, through the gradual easing of measures and what tourist traffic shows in the first five months of the year, allows for modest optimism for the coming months, but challenges still remain.
Increase of market share
It should be noted that in 2021 Olympic Brewery took a very important step in the field of sales. With the total market growing by 17%, the company moved with sales growth exceeding 21%, which was accompanied by an increase in market share, both overall and on each channel separately.
The advantage of beer
Regarding the geopolitical crisis and inflationary pressures and whether they will affect the overall course of the market, Ms. Tsintsifa noted that the breweries are once again called upon to operate in a difficult context of special circumstances. As she said: “It is perfectly normal for citizens to be afraid and insecure to reflect on their purchasing power and behavior.”
However, since the beer category is less purchasing dynamics, one would say that brewery products may be more affordable alternatives than other categories.
The big bet of adequacy
Due to the great upheaval in the supply chain at the international level, the most crucial element is now the timely assurance of adequacy.
For Ms. Tsintsifa this is the reason her firm has moved to “ensure the flow at the level of raw materials and supplies, the adequacy of human resources through new recruitment, the levels of stocks and the most correct planning as possible throughout our operating range.”
The absorption of additional costs continues
The firm has made great efforts to absorb much of the cost of production, since the beginning of the wave of price increases (end of 2021) according to Ms. Tsintsifa on the implications of rising production costs and their transmission to consumers. As she noted the effort in this direction will continue undiminished, combined with constant adjustments and increasing efficiency in the way we operate as a whole, with emphasis on areas such as the supply chain.
Fixed investment plan
In terms of investments, both for this year and for the next five years, the company’s investment plan remains stable in its goals. This focuses on the continuous upgrade of the equipment of production units, as well as the further strengthening of our export activity.
“Last year, the investments of Olympic Brewery focused mainly on further strengthening the equipment and systems related to health and safety, in all our facilities. At the same time, there were investments in new infrastructures related to the production process, strengthening and unification of systems at the national level. Movements that had as a common denominator the emphasis on new technologies as a basic provision for our people, ” she said.
New Products
This year, Olympic Brewery launched another flavor in Somersby cider and two new flavors in Tuborg mixers, which so far have received very positive reviews.
Sustainable development
In addition to a strong financial footprint, Olympic Brewery plans sustainable development for the future with a comprehensive sustainable development plan, with the distinctive title “Together to ZERO”, which is based on four main pillars, aiming to:
• Zero carbon footprint
• Zero water waste
• Zero alcohol abuse
• Zero accidents in the workplace
Employee health and safety is an area in which the company pays special attention, achieving a 38% increase in the rate of compliance with the basic safety rules for the period 2017-2021, but also a steady reduction in the accident rate at work. Following the “Basic Safety Rules” (Life Saving Rules), conducting frequent trainings, setting up first aid teams, organizing monthly informative investigations of unsafe behaviors and conditions, it is no coincidence that in 2021 the Olympic Brewery was awarded the “Golden” category. “Health and Safety Culture” at the Health & Safety Awards.
Olympic Brewery has 2 privately owned production units in Sindos and Ritsona, with annual production capacity of 2.1 mil. hlt., where 12 products are produced: FIX Hellas, FIX Dark, FIX Anef, Mythos, Mythos Radler, Mythos 0.0%, Mythos Ice , Kaiser, Henninger, Tuborg Soda, Tuborg Tonic Water and the Tuborg Lemon / Lime-Green Tea / Orange-Cinnamon Soda flavors.