Aegean Market is seeking to move beyond the local market on Ios and take on a broader role in supplying the islands, with plans to develop cash & carry operations, build new storage facilities and establish exclusive partnerships with food producers abroad.
The company, which has operated on the island for 19 years, aims to expand into other island markets over the next three years, as it reports lower sales but higher profitability.
Plans centre on setting up a standalone wholesale facility, building new warehouses in the Almyros area of Ios and securing exclusive partnerships with producers. The company has yet to specify the investment budget, when the cash & carry operation will open or which islands it plans to enter.
Aegean Market has a main store at the port of Ios, a branch in the island’s main town and storage facilities, serving a market with pronounced seasonal swings in tourism. The planned expansion follows a year in which the company improved its profitability despite lower sales.
Turnover fell 6.4% to €3.92 million, from €4.18 million in 2024. By contrast, net profit rose 19% to €127,353, from €106,996, while pre-tax profit increased to €152,290.
The improvement was driven mainly by a stronger trading margin and cost restraint. Gross profit held close to €976,000 despite lower turnover, with the gross margin rising to 24.9% from 23.4%.
Cash and cash equivalents fell 42.7% to €675,221, from €1.18 million at the end of 2024. Bank borrowing edged down to €284,920 from €292,646, while trade payables fell to €846,766 from €986,428.
For 2026, management forecasts growth in sales and pre-tax profit, giving priority to setting up a standalone wholesale facility. The company employed an average of 18 people in 2025, with a total of 25 people working for it during the year.