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STELIOS KANAKIS ABEE is active in the trade sector of raw materials for
confectionery, bakery and ice cream, and based on the National Statistical
Service of Greece's classification system (STAKOD) it belongs to the following
sector:
STAKOD 51.36 "Wholesale trade in sugar, chocolate and confectionery
products".
This sector includes businesses that cover a wide range of products used as raw
materials in a great selection of end products. STELIOS KANAKIS ABEE is
involved in the specific field of trade in confectionery, bakery and ice cream
raw materials whose end consumers are various patisserie workshops, dough
product preparation units and bread industries, among others.
The wholesale trade in sugar, chocolate and patisserie materials sector is part
of the wider foodstuffs sector, which is one of the most dynamic and profitable
in the Greek industry. The foodstuffs sector accounts for 21% of Gross Product
Value.
Growth of the sector is due to a large extent to the tendency of consumers to
purchase processed products, foodstuffs, food and patisseries items, a trend
that is not expected to drop off. Domestic consumption of patisserie products
has been steadily increasing while per capita consumption continues to be at
low levels compared to figures in other European countries with the result that
there are high growth margins.
Demand for confectionery raw materials is a result of demand for the end product
by consumers. Over recent years a tendency for consumers to prefer sweets and
high quality products has been noted in contrast with the predominance of
'traditional' sweets during the previous decade. Various workshops and
patisseries have adapted their products accordingly placing greater emphasis on
the quality element of their materials, while at the same time developing new
product categories.
Moreover, new consumer standards which demand use of low fat ingredients,
ingredients processed in an environmentally friendly manner, etc. have over
recent years been placed in a significant position in the confectionary raw
materials market, which has significant prospects for growth.
These factors resulted in the demand for high quality raw materials to increase
significantly. Such materials are primarily produced abroad. Foreseeing this
emerging trend in consumer preferences, the Company entered the specific high
quality raw materials market in time and undertook to represent leading foreign
firms.
The sector in which the Company is active is characterized by the existence of
major producers - suppliers which cover only specific items such as butter,
margarine and so on, and at the same time, small to medium sized trading
companies which cover a larger range of products and wider procurement needs in
terms of confectionery products, making them direct competitors of STELIOS
KANAKIS ABEE.
The table below shows the turnover of the largest trading companies of the
sector in the Greek market.
TURNOVER
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(in thousand euros)
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|
COMPANY NAME
|
2009
|
2008
|
2007
|
2006
|
|
PURATOS HELLAS S.A.
|
20.143
|
19.564
|
17.829
|
16.507
|
|
STELIOS KANAKIS S.A
|
18.588
|
18.732
|
17.753
|
15.280
|
|
LAOUDIS BROS S.A.
|
13.181
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12.693
|
11.794
|
9.825
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SEFCO ZEELANDIA S.A.
|
12.309
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11.955
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10.753
|
9.780
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GIANNIKAS S.A
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12.261
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13.966
|
13.054
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9.242
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OLYMPIC FOODS S.A.
|
10.010
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11.726
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11.940
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10.402
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ANTZOULATOS S.A.
|
5.955
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6.123
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5.468
|
4.711
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LEDRA L.T.D.
|
4.301
|
4.767
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4.361
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3.717
|
|
|
|
|
|
|
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TOTAL
|
96.749
|
99.526
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92.952
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79.464
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Source: Published Financial Statements
Moreover the table below shows the ranking of companies in the sector based on
pre-tax profits.
PRE -TAX PROFITS
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(in thousand euros)
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COMPANY NAME
|
2009
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2008
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2007
|
2006
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STELIOS KANAKIS S.A.
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2.589
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2.474
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2.290
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1.792
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GIANNIKAS S.A
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1.636
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2.194
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2.535
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1.325
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PURATOS HELLAS S.A.
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1.515
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1.222
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805
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1.158
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SEFCO ZEELANDIA S.A.
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1.214
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1.014
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1.330
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1.156
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LAOUDIS BROS S.A.
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868
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783
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618
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461
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OLYMPIC FOODS S.A.
|
865
|
907
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1.622
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1.114
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ANTZOULATOS S.A.
|
595
|
188
|
305
|
324
|
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LEDRA L.T.D.
|
383
|
459
|
364
|
300
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TOTALS
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9.667
|
9.241
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9.869
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7.630
|
|
|
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|
|
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PROFITS FOR STELIOS KANAKIS S.A.
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13,93%
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13,21%
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12,90%
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11,73%
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|
|
|
|
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PROFITS FOR SECTOR
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9,99%
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9,29%
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10,62%
|
9,60%
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Source: Published Financial statements
It is to be noted that the sample of companies used, consists of companies with
similar operations to those of STELIOS KANAKIS ABEE, which produce or trade in
a large range of products and which target the same purchasing groups
(confectionery shops, bakeries, etc.).
The Company has successfully managed to stand out from the competition. This
has occurred due to the high quality of its products, the awareness of the
Company's name, its long-term relations with leading foreign suppliers as well
as with its customers. Moreover, the Company has developed the appropriate
corporate infrastructure for promoting high quality products while at the same
time has an effective sales, distribution and technical support network.
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