Added to YB: 2026-08-25
Pitch date: 2026-08-21
KRI.AT [neutral]
Kri-Kri Milk Industry S.A.
+0.63%
current return
Author Info
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Company Info
Kri-Kri Milk Industry S.A. operates in the dairy industry in Greece and internationally. The company offers ice creams, yogurt and dessert, fresh milk, and other products, such as gulten free, and cream cheese.
Market Cap
EUR 1.0B
Pitch Price
EUR 31.70
Price Target
N/A
Dividend
1.44%
EV/EBITDA
17.99
P/E
25.25
EV/Sales
2.89
Sector
Food Products
Category
growth
New Permit = New (Greek Yogurt) Growth - Kri-Kri Milk Industry S.A.
KRI.AT (overview): Greek yogurt maker, single Serres plant, granted permit Aug 6 to expand production 85% (299→554 tonnes/day). 14yr rev CAGR 14%, +28% last yr, ran ~92% of permit cap turning away customers. Base case: net income ~2x by 2029, rev €604m by 2030. Demand tailwinds: authentic Greek label share gains, GLP1 (EU 2% vs US 12%), largest exporter (33.6% of €559m mkt, +42% in 2025). Self-funded, €111m cum FCF 2026-30, state co-funds expansion (~€29m tax relief), 1.5% yield. Valued 14-18x EPS, modest PEG; could re-rate to 20x+. Risks: Greek milk +30% above EU (widest spread on record, margin swings), competitor tripling capacity w/ state funding, UK 'authentic Greek' definition litigation risk. 70% family owned. Awaiting mgmt call.
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