Moët Hennessy is synonymous with champagne, cognac and premium drinks. However, in Greece its subsidiary does not make its money by selling… champagne. Moët Hennessy Hellas provides marketing and market research services to affiliated companies abroad. The turnover of this activity increased by 77.4% last year, to 1.664 million euros. Profit before tax rose to 137,259 euros from 80,721 euros and net profits almost tripled, to 119,156 euros from 41,819 euros.
The entire turnover came from just two group companies, specifically 1.281 million euros from Moët Hennessy MHCS and 382,778 euros from Polmos Zyrardow.
During the same period, the average number of employees increased from 5 to 7, while personnel costs increased by 83%, to 1.088 million euros. Regular salaries alone reached 849,925 euros. Other operating expenses, travel and transportation expenses, and third-party services also increased. Thus, despite the explosive rise in figures, the pre-tax profit margin decreased to 8.25% from 8.60%.
For the current fiscal year, management expects a further increase in activity and estimates that the company will remain profitable, despite pressures from inflation, geopolitical uncertainty and consumption.