Construction of the new El Sabor nacho chips production unit is expected to be completed and be operational within 2020. The new unit will have a production capacity of one thousand kilos per hour and will be located in Oinofyta, Boeotia, not far from Athens.
This particular investment started in 2019 with the purchase of a 11,337.87 sq.m. plot of land, while the total budget for building and mechanical installations will amount to €4.9 million. The investment will be financed by bank loan, a bond loan of €3.85 million, while the remaining amount will be covered by equity funds. According to the management of El Sabor, this investment will help in the growth and further development of the company, as the existing unit can no longer meet production needs and fulfill the growing volume of orders of the company’s customers.
Turnover and profitability increase in 2019
Regarding El Sabor finances for 2019, according to the financial statements of the company, turnover amounted to €16.23 million compared to €14.46 million for the same period of 2018, showing a 12.23% increase. In addition, after tax results remained profitable and amounted to €1.65 million for the year 2019, compared to €1.25 million for 2018, showing an increase of 31.58%.
Furthermore, the company remains optimistic regarding 2020, since the COVID-19 pandemic did not have a significant impact on its growth rate, even though part of its turnover in the foodservice, hospitality and cinema sectors has been lost.
About El Sabor
El Sabor was established in 1992 as the first tortilla chips plant in Greece and it still remains the only factory of its kind in Southeast Europe. El Sabor is operating in the industrial area of Oinofyta, with new buildings and warehouses of 5,000 square meters, located in the company’s privately owned land. The company’s modern and fully equipped facilities, in combination with the certified production process, and the dynamic human factor have greatly contributed to the growth and development of El Sabor.
The company’s long-standing leading presence in the Greek food market and its in-depth know-how have greatly contributed to its international expansion during the last three years. In fact, El Sabor currently exports its products to 20 countries around the world.
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