The Greek subsidiary of the Newrest Group, one of the largest international providers of catering and food service, continued to post revenue growth and expand its operations during the fiscal year that ended in September 2025, however, its profitability declined due to rising operating costs.
Revenue reached 86.753 million euros, marking a 7.3% increase from 80.83 million euros. This represents a new revenue high for the company. However, the rise in sales did not translate into a corresponding increase in profits.
EBITDA fell by 3.1% to 10.58 million euros, EBIT declined by 2.4% to 8.99 million euros, and net income came in at 6.99 million euros, down 4.4%.
The decline in net income, despite the increase in sales, is primarily attributed to an 8.9% rise in raw material costs, higher personnel expenses, and an approximately 11% increase in other operating expenses.
Purchases of raw materials totaled 35 million euros, while personnel expenses exceeded 19.745 million euros, reflecting the high labor intensity characteristic of the industry. Other expenses totaled 21.9 million euros, an increase of more than 2 million euros year-over-year. At the same time, trade receivables rose to 13.3 million euros from 10.5 million, a development linked to the increase in business volume.
Cash and cash equivalents declined to 3.85 million euros from 5.09 million euros. The decrease is attributable to investments totaling 3.07 million euros, high dividend payouts, and tax payments exceeding 2.5 million euros. During the fiscal year, dividends totaling 7.93 million euros were distributed, an amount even higher than the net income for the year (7 million euros).
Newrest Hellas operates one of the largest contract food service networks in the country. At the end of the fiscal year, it operated 33 locations, including at Athens International Airport, the airports in Chania, Thessaloniki, Rhodes, and Corfu, as well as at the facilities of: Coca-Cola 3E, Alpha Bank, National Bank of Greece, Athenian Brewery, PepsiCo, Intracom Telecom, and OpenBet Hellas.
Management states that the key objectives for the current fiscal year are to further increase revenue, improve production efficiency, reduce production costs, and maintain satisfactory liquidity.