Mitsides Public Company Ltd Logo

Mitsides Public Company Ltd

ISIN: CY0100260419 | Ticker: MIT | LEI: 2138005KUVX6872XXY67
Country: Cyprus

About Mitsides Public Company Ltd

Company Description

It all started in 1932, when brothers Chrysostomos and Costas Mitsides bought a traditional stone mill in the old part of Nicosia. This was the beginning of an ongoing path of excellence and quality, which passed down from generation to generation. In the decades that followed, this small family business flourished into the largest and most experienced flour and pasta manufacturer in Cyprus.
Today Mitsides dominates the Cyprus market, enjoying an impressive 98% brand awareness on the island, and commanding equally impressive shares of around 40% and 50% in the local pasta and flour markets respectively. Moreover, Mitsides products are successfully spreading to overseas markets, earning international acclaim.

Year founded


Served area



Nikiforou Foka 34 -38, 1513 Nicosia – Cyprus

Financial statements

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Line item in (eur) 01.01.2020 01.01.2021 01.01.2022
Assets N/A 34,277,826.00 35,994,746.00
Noncurrent Assets N/A 20,621,816.00 21,037,224.00
Property Plant And Equipment N/A 16,162,845.00 16,498,493.00
Investment Property N/A 3,260,231.00 3,262,879.00
Noncurrent Financial Assets At Fair Value Through Other Comprehensive Income N/A 4,431.00 4,431.00
Noncurrent Financial Assets At Amortised Cost N/A 5,461.00 2,898.00
Inventories N/A 4,853,010.00 6,388,721.00
Trade And Other Current Receivables N/A 6,790,987.00 7,642,101.00
Current Prepayments N/A 97,452.00 50,989.00
Current Tax Assets Current N/A 168,801.00 168,801.00
Current Financial Assets At Amortised Cost N/A 359,324.00 347,261.00
Cash and cash equivalents N/A 1,327,574.00 300,700.00
Current Assets Other Than Assets Or Disposal Groups Classified As Held For Sale Or As Held For Distribution To Owners N/A 13,597,148.00 14,898,573.00
Noncurrent Assets Or Disposal Groups Classified As Held For Sale N/A 58,862.00 58,949.00
Equity And Liabilities N/A 34,277,826.00 35,994,746.00
Equity 14,834,634.00 14,499,074.00 14,293,629.00
Issued Capital N/A 8,446,000.00 8,446,000.00
Retained Earnings N/A -718,051.00 -1,623,201.00
Liabilities N/A 19,778,752.00 21,701,117.00
Noncurrent Liabilities N/A 3,647,094.00 3,478,921.00
Deferred Tax Liabilities N/A 2,219,443.00 2,372,867.00
Longterm Borrowings N/A 1,218,772.00 783,842.00
Current Liabilities N/A 16,131,658.00 18,222,196.00
Trade And Other Current Payables N/A 4,094,120.00 6,096,697.00
Current Tax Liabilities Current N/A 174,056.00 202,639.00
Line item in (eur) 01.01.2020/
Revenue 25,216,039.00 27,104,432.00
Other Income 123,220.00 118,383.00
Other Gains Losses 35,588.00 -45,278.00
Profit Loss From Operating Activities 366,709.00 -522,179.00
Finance Costs 471,298.00 443,667.00
Profit Loss Before Tax -104,589.00 -965,846.00
Income Tax Expense Continuing Operations 230,883.00 109,066.00
Profit (loss) -335,472.00 -1,074,912.00
Profit Loss Attributable To Owners Of Parent -335,472.00 -1,074,912.00
Line item in (eur) 01.01.2021 01.01.2022
Profit (loss) -335,472.00 -1,074,912.00
Adjustments For Decrease Increase In Inventories 1,070,705.00 -1,535,711.00
Adjustments For Unrealised Foreign Exchange Losses Gains 38,387.00 -92,106.00
Cash Flows From Used In Operations 1,690,337.00 227,260.00
Cash Flows From Used In Operating Activities 1,643,462.00 158,528.00
Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities 4,171.00 22,614.00
Purchase Of Property Plant And Equipment Classified As Investing Activities 200,094.00 203,654.00
Cash Receipts From Repayment Of Advances And Loans Made To Other Parties Classified As Investing Activities 4,652.00 2,563.00
Dividends Received Classified As Investing Activities 31.00 40.00
Interest Received Classified As Investing Activities 1,848.00 0.00
Cash Flows From Used In Investing Activities 2,218,587.00 -193,130.00
Proceeds From Borrowings Classified As Financing Activities 65,265.00 804,007.00
Repayments Of Borrowings Classified As Financing Activities 1,219,380.00 1,558,586.00
Payments Of Lease Liabilities Classified As Financing Activities 182,618.00 215,296.00
Interest Paid Classified As Financing Activities 407,452.00 416,831.00
Cash Flows From Used In Financing Activities -1,744,185.00 -1,386,706.00
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes 2,117,864.00 -1,421,308.00
Cash and cash equivalents 1,327,574.00 300,700.00

Please note that some sums might not add up.

Filings & Publications


Consolidated Report
Corporate Governance Report
Company Presentation
Sustainability Report
Remuneration Report

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Industry Group

Food, Beverage & Tobacco


Food Products


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