"Tobacco Company Profile - Karelia", is an analytical company report by GlobalData that provides extensive and highly detailed current and future market trends in the cigarette market. It covers market size and structure along with per capita and overall consumption. Additionally, it focuses on brand data, retail pricing, prospects, and forecasts for sales and consumption.
Karelia was originally established in 1888 by George and Stathis Karelia and is still controlled by the Karelia family, although the current company was founded in 1962. Karelia has been listed on the Athens Stock Exchange since 1976 and currently ranks fourth in the Greek cigarette market, with an increased 15% share in 2016. It is the largest independent tobacco company in Greece. The company is based at Kalamata, a port on the southern tip of the Greek mainland, where its modern factory is located. Its administrative and commercial functions were transferred to Athens in 1993.
- During 2007, ?4.8 million was invested in production processes, including the installation of a new making-packing line for Karelia Slims, with a speed of 9,000 cigarettes per minute. During 2008 a further ?4 million was invested in installing another making-packing line for the production of super slims cigarettes, with a speed of 6,000cpm, and expanding the capacity to produce round corner format packs.
- In 2012 Karelia invested more than ?7 million in expanding production capacity among other smaller scale investments, with the company noting that ?3 million was invested in expanding production as well as in strengthening exports, with the company expecting to invest a further ?1.9 million in 2014.
- Net profits increased by 15.7% to ?61.8 million, almost returning to the highpoint reached in 2014. As a result, net profit margins rose to 9.5%, although operating margins were down a little to 17.5% in 2016.
- The company’s share of the global cigarette market has declined from 0.28% in 2015 to 0.27% in 2016.
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