Higher sales, wider losses and increased borrowing. That was the picture for Cafetex in 2025. The coffee producer behind the Coffeeway, Brazita and Beanies brands is associated with the investment portfolio of VNK Capital, owned by Vassilis and Nelli Katsos.
The group, led by Coffeeway founder Giannos Benopoulos, increased consolidated revenue by 11.2% to €26.14 million. However, net losses widened to €2.19 million from €1.91 million, as rising international coffee prices continued to erode profitability.
Gross profit fell by 23.1% to €2.52 million, with the gross margin narrowing to 9.6% from 14%. Operating EBITDA turned negative, at €239,460.
Management attributed the pressure to historically high raw material prices, transport and energy costs, and its decision to absorb much of the price increases rather than pass them on to customers.
The deterioration was also reflected in consolidated equity, which turned negative at €1.57 million, from positive equity of €607,274. Total borrowings rose to €12.27 million, against cash and cash equivalents of €1.45 million.
Behind the consolidated figures, parent company Cafetex delivered stronger sales growth, with sales up 23.9% to €22.66 million and positive operating EBITDA of €407,000. It nevertheless remained loss-making, posting net losses of €1.25 million.
Of particular note was the increased stake in UK-based Beanies. Through two capital increases in Progress 2019 Limited, which funded Beanies, Cafetex raised its controlling stake from 51% to 68.8%, as the other shareholders did not participate on a pro rata basis. Beanies recorded sales of €3.88 million and losses of €957,000 in 2025.
The next challenge, then, is recovery. Management says the parent company’s comparable sales rose by 16% in the first half of 2026, while operating EBITDA reached €800,000, compared with a loss of €930,000 in the same period of 2025.