Sarantis S.A., the Chios-based food producer that trades in sugar and makes traditional sweets, is staging a strong recovery this year.
After revenue fell 7.4% last year, the company increased sales by 22.31% in the seven months from January to July 2026, with revenue reaching €8.60 million, compared with €7.03 million in the same period last year.
Last year, sales fell to €12.47 million from €13.47 million in 2024. The decline was driven mainly by trading activity, where sales fell 9.27% to €9.26 million. By contrast, sales of manufactured products were almost unchanged at €3.11 million.
Over the same period, exports of products rose 40.05% to €1 million, from about €715,000 in 2024, offsetting a 12.83% fall in domestic sales to €2.11 million.
Despite the fall in total revenue last year, gross profit rose by 1.92% to €1.42 million, as the cost of sales fell faster than revenue. However, the improvement was not reflected in the bottom line.
Pre-tax profit fell to €700,207 from €785,605, while net profit dropped to €573,796 from €658,509 in 2024. EBITDA declined to €851,323 from €960,625, as operating expenses rose 9.78% to €1.94 million.
Dividends of €249,583 from subsidiary SL, in which Sarantis holds a 99.83% stake, also made a significant contribution to profitability. The statutory auditor has issued a qualified opinion concerning goodwill of €3.79 million arising from a merger in 2009. In the auditor’s view, the amount should have been written off by 2013, meaning reported equity is overstated by €3.79 million.
For 2026, management is optimistic, highlighting new partnerships and products and an expanded customer base. However, pressures from energy costs, transport and, above all, international sugar prices remain.