Xino Nero S.A., the Municipality of Amyntaio’s municipal natural mineral water bottling company, ended 2025 with strong growth in sales and profitability, alongside an €8.69m investment programme to build a new plant.
The new production facility, due to be completed by the end of the year, is expected to significantly increase the company’s production capacity. It is already running two shifts.
Last year, sales rose 16.98% to €7.42m, from €6.34m in 2024. Pre-tax profit increased by 21.68% to €2.18m, while net profit reached €1.66m, up from €1.38m, a rise of 20.28%.
Gross profit improved even more, rising by 41.3% to €3.85m. The gross profit margin stood at 51.94%, compared with 43% in 2024, as the cost of sales fell despite higher revenue.
On the investment front, the company has secured approval for two projects, with budgets of €4.95m and €3.74m, under the Development Law 4887/2022. Total approved grant funding amounts to €4.72m. The company has also upgraded its existing bottling line and rented additional storage space.
However, some matters remain unresolved. Xino Nero is involved in a legal dispute with “Iosifidis – Xino Nero S.A.”, from which it is seeking €601,612. The other party has made claims worth millions of euros, which were dismissed by the court of first instance; the case has not yet been finally resolved.
Meanwhile, the certified auditor’s opinion includes six qualifications. The most significant concerns an insufficient impairment allowance for doubtful receivables of €552,000, leaving receivables and shareholders’ equity overstated by the same amount.
The auditor’s observations also include unverified receivables and liabilities, as well as outstanding tax and legal matters.