Last year, the FAGE dairy company, owned by the Filippou family, enjoyed a “sprint” with results that are surely the envy of many.
The company recorded revenue of 205.6 million euros, an increase of 18.1% compared to 2024, a development attributed mainly to the strong rise in exports, which grew by 25.4%, while sales in the Greek market also increased by 7.2%. Gross profit stood at 38.2 million euros, up 24.9%, with the gross margin improving to 18.6% from 17.6% a year earlier.
During the same period, pre-tax profits amounted to 8.4 million euros, compared to a loss of 21.1 million euros in 2024, while net profits after taxes reached 6.4 million euros, compared to a loss of 16.8 million euros. The euro-dollar exchange rate also had a significant impact.
The company recorded foreign exchange gains of 3.34 million euros from the revaluation of a 30-million-dollar bond loan to the parent company. Part of the improvement stemmed from a drastic reduction in provisions for litigation, which were reduced to 4.5 million euros in 2025 from 22.8 million euros in 2024.
Despite the improvement in results, the company still faces significant outstanding issues. Total provisions for ongoing legal cases amount to 43.2 million euros, of which 40.8 million are classified as long-term liabilities.
This amount far exceeds the company’s equity, which stands at 25.7 million, suggesting that these cases remain the most significant source of uncertainty regarding the future course of FAGE Greece. Management does not provide details regarding the nature of the cases.
Sixty-four percent of total sales were made to the parent company, FAGE International, up from 60% in 2024. This dependence highlights the Greek company’s role as the international group’s primary production unit.
Investments in fixed assets totaled 11 million euros, more than double the amount in 2024, while the value of tangible fixed assets rose to 76.2 million euros from 69.2 million euros. FAGE employs 572 people and operates production facilities in Metamorfosi, Attica, and Agioi Apostoloi, Trikala.
The most noteworthy development concerns the group’s structure. On January 1, 2026, the transfer of 100% of FAGE Greece from FAGE International to FAGE USA Dairy Industry was completed for a consideration of $85 million.