Mikel: Bad news – why are they closing down one by one

Mikel: Difficulties in Greece and the shift abroad for Mikel. Net losses for three consecutive years for the cafe chain Lefteris Kyriakakis. All developments at xristika.gr.

Mikel coffee became the absolute trend in coffee making during the difficult years of the crisis.

The chain started by Lefteris Kyriakakis from Larissa developed at a rapid pace during the most difficult decade for the Greek economy, mainly through franchising, although it retained several privately owned stores in its network, taking care to grow the legend… The secret of the chain's coffee recipe .

Of course, since the coffee market has proven on numerous occasions that new trends, as dynamic as they were at the beginning, quickly come to a halt, in recent years Mikel has had to find these growth channels in order to maintain his position and return to profitability since he recorded over Over the past three years losses in the bottom line of its balance sheet.

According to recently published financial data, regarding the fiscal year 2022, the company showed an increase in its sales volume by 16.57% compared to 2021, reaching 18.84 million euros.

However, cost of sales rose by 20.45%, to €13.67 million, with the result that EBITDA was down 14.34% compared to 2021, to €1.18 million, and the net result shows a loss of €159,000 (from approximately €173,000). . In 2021).

Despite all this, the management decided to distribute dividends to shareholders in a total amount of 250 thousand euros.

The negative result is also allegedly related to the restructuring process of the corporate store network developed in Athens, Thessaloniki, Larissa and Trikala. Within one year, their number had been reduced from 46 to 37 (38 if the canteen of the TRAINOSE “Silver Arrow” train was also included) absorbing so many losses!

However, information indicates that in 2023, the year the company completed 15 years of life, sales volume increased slightly.

Mikel: Shifting to the outside

Somehow, the strategic decision was made that the response to the pressures of the Greek market, where competition is intensifying from old players and, above all, new players, would be to open up.

Basically, expansion into new markets through partners – master franchisees. In this way, 92 stores were developed in 18 countries abroad.

The largest network, 33 stores, operates in Cyprus, followed by Turkey with 23, South Arabia with 7, the United Arab Emirates with 4, as well as Bulgaria and the United Kingdom with 3.

Among two companies operating in the United States of America (Boston and Astoria), Australia (Sydney), North Macedonia (Skopje), Jordan, and Canada.

Information indicates that the company views the Iberiki issue favorably, as various moves are being taken.

But it will likely have to do more given that foreign sales for 2022 were almost stagnant at around €1.7 million.

It should be noted that today there are more than 350 Mikel stores operating around the world.

Mikel's management expects further development of the company through new commercial agreements that are expected to promote increased business volume and reduce total expenses with the ultimate goal of improving results in the coming years of management.

The company's total equity at the end of the year amounted to 3.91 million euros.

Short-term liabilities total €12 million, as do long-term shirts.

The number of working employees increased to 256 people from 246.

Mikel: They're cutting it too – see where its price goes

coffee: What is the reason for the significant increase in the prices of Robusta? Precision drives consumers to this variety compared to the more expensive Arabica. All developments at xristika.gr.

“The price of the Robusta variety has increased» At the highest level since at least 2008, He made the drink especially…salty for his fans coffee.

London futures eThe price of a ton rose to $2,790At the highest price since contracts began 15 years ago.

The US Center for Climate Prediction confirmed the return of the phenomenon.El NinoForecasters believe its severity will likely be moderate to strong.

This weather phenomenon It usually brings warmer, drier conditions to the main growing areas of the varietySuch as Vietnam and Indonesia.

Prices rose At least 50% since the beginning of the year Supplies of beans – used in instant coffee and espresso – cannot meet the growing demand.

Increased cost of living Consumers push for this variety at the expense of more expensive Arabica.

According to BloombergAs coffee blend makers increase the amount of Robusta they use, farmers are seeking to increase production rates.

However, the high cost of fertilizers drought. All this puts the global coffee market in deficit for the third consecutive season in 2023-2024.

Vietnam, the world's largest producer of Robusta, may have harvested its smallest crop in four years.

Agriculture in Brazilthe second largest country producing the variety, and it is expected to decrease by 5%, While Indonesia's production is expected to decrease by 20% due to adverse weather conditions.

Coffee: If you drink it this way, stop immediately – the chances of cancer increase

Bad news for coffee lovers, as a new study shows that the chances of developing cancer increase!

For many of us, the day doesn't officially begin until the first sips of coffee hit our stomachs.

Unfortunately, while morning coffee is a ritual for many, drinking your coffee a certain way may significantly increase your risk of cancer, researchers say.

If you like to start your morning with a hot cup of coffee, you may unknowingly increase your risk of developing certain types of cancer.

A 2019 study published in the journal International Journal of Cancer The researchers analyzed a group of 50,045 adults between the ages of 45 and 75 over a 10-year period.

The researchers found that those who drank 700 ml of tea a day at temperatures of 60 degrees Celsius and above were 90% more likely to develop esophageal cancer compared to those who drank their drinks at temperatures considered “tepid” or lower.

Although the study looked specifically at tea drinkers, it is the temperature of the drink that appears to increase the risk, so the results are likely to be similar for coffee drinkers.

If you want to enjoy your coffee or tea without putting your health at risk, waiting a few minutes for it to cool can make a big difference in your cancer risk.

The study's lead researcher, Dr. Hans Hans, said: “Drinking very hot tea can increase the risk of esophageal cancer, so it is recommended to wait until it cools before drinking it.” Farhad Islami, scientific director of cancer research at the American Cancer Society.

Don't you like waiting for your coffee or tea to cool down on its own?

Adding cold, or at most room temperature, milk can lower the temperature of your drink enough to the point where it doesn't pose a risk to your digestive system.

According to a 2016 study published in Science magazine Biomarkers for cancer epidemiology and preventionDrinking just one or two cups of coffee per day was associated with a 26% lower risk of colon cancer.