Loulis Food published its financial results for the first half of 2026.
According to the announcement, the group's sales for the aforementioned period amounted to €93.67 million, compared to €98.04 million in the corresponding period of the previous fiscal year, showing a decrease of 4.46%. The company's sales amounted to €81.59 million, compared to €83.22 million in the corresponding period of 2025, down by 1.96%.
By main business sector, in the category “Consumer Flour Mill Products & Bakery & Pastry Mixes”, the quantities sold during the first half of 2026 amounted to 12 thousand tons for both the group and the company, compared to 12.3 thousand tons and 12.4 thousand tons, respectively, in the corresponding period of 2025, showing a decrease of 2.44% and 3.23%, respectively. Sales in the category decreased by 8.75% at group level and by 8.72% at company level.
In the category “Professional Flour Mill Products”, the quantities sold by the group amounted to 156.7 thousand tons, recording an increase of 3.64% compared to the first half of 2025. In the company, the quantities sold amounted to 139.8 thousand tons, up by 3.25%. Despite the increase in quantities sold, sales in the category amounted to €63.93 million for the group and €57.63 million for the company, down by 0.54% and 1.35%, respectively.
In the category “Mixes & Raw Materials for Bakery & Pastry”, sales to third parties amounted to €5.98 million in the first half of 2026, compared to €9.14 million in the corresponding period of 2025, showing a decrease of 34.57%.
In the category “Cereals”, the quantities sold amounted to 64.5 thousand tons for both the group and the company, showing an increase of 20.11% compared to the first half of 2025. However, sales to third parties amounted to €16.13 million, compared to €16.26 million in the corresponding period of 2025, recording a decrease of 0.80%.
The cost of goods sold of the group for the first half of 2026 amounted to €75.72 million, compared to €79.95 million in the corresponding period of 2025, recording a decrease of 5.29%. In the company, cost of goods sold amounted to €66.74 million, compared to €69.26 million in the corresponding period of 2025, recording a decrease of 3.64%.
Subsequently, the gross profit of the group for the first half of 2026 amounted to €17.95 million, compared to €18.09 million in the corresponding period of 2025, showing a decrease of 0.77%. In the company, gross profit amounted to €14.85 million, compared to €13.96 million in the corresponding period of 2025, showing an increase of 6.38%.
As a percentage of sales, the gross margin amounted to 19.16% for the group and 18.20% for the company, compared to 18.45% and 16.77%, respectively, in the first half of 2025.
The administrative expenses and distribution expenses of the group for the first half of 2026 amounted to €15.61 million, increased by 7.14% compared to €14.57 million in the corresponding period of 2025. As a percentage of sales, they amounted to 16.66% compared to 14.86% in the first half of 2025. In the company, administrative and distribution expenses amounted to €13.10 million, increased by 7.64% compared to €12.17 million in the corresponding period of 2025. As a percentage of sales, they amounted to 16.06% compared to 14.62% in the first half of 2025.
More specifically, in the group distribution expenses corresponded to 11.57% of sales in the first half of 2026, compared to 10.44% in the corresponding period of 2025. Administrative expenses amounted to €4.76 million, increased by 9.93% compared to the first half of 2025. In the company, distribution expenses corresponded to 10.92% of sales, compared to 10.08% in the first half of 2025. Administrative expenses amounted to €4.19 million, showing an increase of 11.14% compared to the corresponding period of 2025.
The financial expenses of the group for the first half of 2026 amounted to €0.88 million, compared to €0.99 million in the first half of 2025, showing a decrease of 11.11%. Correspondingly, in the company financial expenses amounted to €0.70 million, compared to €0.88 million in the corresponding period of 2025, down by 20.45%.
The reduction in financial expenses, both in the group and in the company, is mainly attributed to the lower average level of bank borrowing and the lower financing cost.
Total depreciation for the first half of 2026 amounted to €2.91 million for the group and €2.51 million for the company, compared to €2.87 million and €2.51 million, respectively, in the first half of 2025. At group level, depreciation showed an increase of 1.39%, while in the company it remained essentially at the same levels.
The Earnings Before Taxes, Financing, Investment Results and Depreciation (EBITDA) for the first half of 2026 amounted to €6.82 million for the group and €5.83 million for the company, compared to €8.05 million and €6.04 million, respectively, in the first half of 2025, showing a decrease of 15.28% for the group and 3.48% for the company. As a percentage of sales, EBITDA amounted to 7.28% for the group and 7.15% for the company, compared to 8.21% and 7.26%, respectively, in the first half of 2025.
Taking the above into account, the profit before tax of the group for the first half of 2026 amounted to €3.39 million, compared to €3.87 million in the corresponding period of 2025, showing a decrease of 12.40%. As a percentage of sales, it amounted to 3.62%, compared to 3.95% in the first half of 2025. In the company, profit before tax amounted to €2.95 million in the first half of 2026, compared to €2.34 million in the corresponding period of 2025, recording an increase of 26.07%. As a percentage of sales, it amounted to 3.62%, compared to 2.81% in the first half of 2025.
The income tax of the group for the first half of 2026 amounted to €0.87 million, compared to €1.10 million in the corresponding period of 2025. In the company, income tax amounted to €0.72 million, compared to €0.74 million in the corresponding period of 2025.
Taking the above into account, the net profit for the period of the group for the first half of 2026 amounted to €2.51 million, compared to €2.77 million in the corresponding period of 2025, showing a decrease of 9.39%. As a percentage of sales, it amounted to 2.68%, compared to 2.83% in the first half of 2025. In the company, net profit for the period amounted to €2.23 million in the first half of 2026, compared to €1.60 million in the corresponding period of 2025, showing an increase of 39.38%. As a percentage of sales, it amounted to 2.73%, compared to 1.92% in the first half of 2025.
For the first half of 2026, cash flows from operating activities amounted to net outflows of €0.73 million for the group and €2.36 million for the company, compared to net inflows of €8.52 million and €5.86 million, respectively, in the first half of 2025.
The purchase of tangible and intangible fixed assets of the group for the first half of 2026 amounted to €3.43 million, compared to €2.20 million in the corresponding period of 2025. In the company, the related investments amounted to €1.81 million, compared to €1.55 million in the corresponding period of 2025. The increase in the related investments reflects the enhanced investment activity of the group and the company during the first half of 2026.
The total net debt of the group as of June 30, 2026 amounted to €43.66 million, compared to €36.19 million on December 31, 2025, showing an increase of 20.64%. Correspondingly, in the company total net debt amounted to €35.76 million as of June 30, 2026, compared to €28.34 million on December 31, 2025, increased by 26.18%.
In summary, the financial results of the group and the company are reflected through key financial indicators, which are compared against the targets set by management. These targets are shaped taking into account the size and sector of activity of the group, the conditions prevailing in the market, as well as industry averages, where the relevant data are available, the company notes in its announcement.