Sales of €46 million, almost all within the same business ecosystem, but lower profits. That is the picture presented by Meat House, the meat-processing company owned by Greek paper manufacturer Glaros, which is controlled by the Sklavenitis family.
According to its 2025 financial statements, Meat House’s turnover rose by 12.3% to €46.06 million, while net profit fell by 29.5% to €515,437. Of total turnover of €46.06 million, €45.60 million came from transactions with related companies. That is close to 99%, highlighting Meat House’s role as a production link in the wider Sklavenitis family group.
Based in Peristeri, Meat House is involved in the trading, processing, standardisation and packaging of meat. Despite the increase in sales, the company saw its profitability squeezed as the cost of sales rose by 13.3% to €43.23 million.
The gross margin fell to 6.13% from 6.99%, while higher operating expenses reduced operating profit to €829,404 from €1.11 million and net profit to €515,437 from €730,890. Total liabilities fell to €7.21 million from €8.07 million, while equity rose to €3.42 million.
Notably, receivables from related companies stood at €3.74 million at the end of 2025, covering almost all of Meat House’s trade receivables. Management expects the company to remain profitable in 2026 and is seeking further growth. The challenge, however, is not only to increase turnover, but also to improve the returns it generates.