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Karelia Tobacco logo
KAREConsumer Defensive · Tobacco · ΧΑ

Karelia Tobacco

€418.00
+0.00(+0.00%)
Close 26/10/2026 · end-of-day price, not real-time

Karelia Tobacco (KARE) closed at €418.00 on 26/10/2026, +0.00% on the day. Market cap €1.2bn, P/E 11.2, dividend yield 3.49%.

Announcements to the exchange

My view
Private · MENTOR takes it into account
+5.6%6M
Drag sideways across the chart to pick a period, or click an event's dot below it, then ask MENTOR about it.
26/10/2026Close 418.00+0.00%+5.6% since start

Key statistics

12 months to Jun 2026 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€1.2bn
Enterprise valueDec 2025est.
€309.7m
Shares outstandingOct 2026
2.8m
Revenue12 months to Jun 2026
€358.1m
Employees
597
Free float
4.1%
Traded a day, 3-month average
€22.8k

Valuation

12 months to Jun 2026
P/EFY2025
11.2×
P/B
1.3×
EV/Salesest.
0.86×
EV/EBITDAest.
1.9×

5 years, on reported full years: 0.61–4.9×, median 2.3×. Today 2.2×, lower than 55% of months.

P/FCFFY2025
13.1×
Dividend yield
3.5%

Margins

12 months to Jun 2026
GrossFY2025
47.4%
EBITDA
44.8%
Operating (EBIT)
42.7%
Pre-tax
49.9%
Net
39.1%
Free cash flowFY2025
25.7%

Net margin = the shareholders' profit ÷ group revenue.

Returns

12 months to Jun 2026
ROE
16.3%
ROCE
17.8%
ROICest.
14.0%
ROAFY2025
10.0%
ROE, 5-year averageFY2021–25
13.8%
Tax rateFY2025
21.7%

Financial health

Dec 2025
CashDec 2023
€321.9m
Net debt
−€844m
Net debt ÷ EBITDA
−5.3×
Interest coverFY2025
—

not meaningful here

Growth

Revenue, last yearFY2025
+21.0%
Revenue, last halfH1 2026
+9.2%
EPS, last yearFY2025
−8.5%
Revenue, 3 yearsFY2022–25, a year
+10.1%
Revenue, 5 yearsFY2020–25, a year
−20.9%
EPS, 3 yearsFY2022–25, a year
+6.6%

Dividends

FY2025
Yield, last 12 months
3.5%
Per share
€14.60
Payout
39.0%
Covered by free cash flow
2.2×
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+25.8%
3 years, a year
+15.1%
5 years, a year
+12.3%
10 years, a year
+8.6%
Volatility, 1 year
16.1%
Beta to the General Index
0.24×
Deepest fall, 1 year / 5 years
−9.0% / −21.5%
52-week range
€336.00–€446.00
est.worked out by usread with care: tap for why

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

no like-for-like peer
MetricKARE
P/Eportfolio11.2
P/B1.3
P/S3.2
EV/EBITDA1.9
Dividend yield3.5%
Payout ratio39.0%
Gross margin47.4%
Operating margin42.7%
Net margin39.1%
ROE16.3%
Revenue growth (last full year)21.0%
Net debt−€844.0m
Twelve Data · latest quarter 30/06/2026

Peers: Tobacco

No other company listed in Athens runs this business.

EV/EBITDADay
Karelia TobaccoKARE1.9+0.0%

The company

AI-drafted

Karelia Tobacco makes cigarettes and roll-your-own tobacco at one factory in Kalamata, Greece, and sells them wholesale to distributors, wholesalers and duty-free operators in more than 50 countries. International markets provided 79.5% of H1 2026 net turnover and Greece 20.5%.

How it makes moneyH1 2026 · basis: revenue
  • International sales879.5%
  • Greece820.5%
  • Product revenue split1,8(not disclosed)share n/a
It is
  • A tobacco manufacturer with one factory in Kalamata that earned 79.5% of H1 2026 net turnover in international markets spanning more than 50 countries.5,8
  • Controlled outright by the Karelia family: five holders above 5% own 95.95% of the shares, leaving a free float of about 4%.1
  • A debt-free balance sheet holding €957.1m of cash and investments at 30 June 2026.8
It is not
  • Not a retailer: it sells wholesale to distributors and duty-free operators, never to the smoker.1,5
  • Not a €1.67bn revenue business: €1,327.8m of FY2025 turnover is excise duty and VAT collected for governments.1
  • Not a leaf grower, and not a heated-tobacco or vaping company.1
Recent developmentsAll company events →
  • Sep 2026The H1 report showed €182.6m net turnover and €87.2m EBITDA; the land-border duty-free ban reduced turnover by €3.85m.8,9
  • Jul 2026Euronext Athens moved the share into the Surveillance category from 13 July after the company failed to restore its free float to the 15% minimum.6,7
  • Jun 2026The AGM of 4 June approved a FY2025 dividend of €14.60 per share; record date 10 June, payment from 16 June.3
  • Jan 2026Duty-free tobacco sales at land-border outlets were abolished, with a material adverse effect expected on domestic sales.1
  • Jan 2026Bulgaria adopted the euro at 1.95583, ending the group's lev exposure.1
  • Oct 2025Piraeus Securities and Eurobank Equities began market-making in the share on 1 October under contracts of at least one year.4
Key figures
  • Cigarette sales volume 18.1bn FY20251,2
  • Roll-your-own tobacco volume 1,213 t FY20251,2
  • Greek combined cigarette and heated-product share 20.05% June 2026, cigarettes + heated8,9
  • Greek roll-your-own market share 28.33% June 20268,9
  • Gross margin on net turnover 53.2% H1 20268,9
Key facts
  • FY2025 turnover was €1,670.4m but includes €1,327.8m of excise duty and VAT; net turnover was €342.7m.1
  • The group has no bank borrowings and held €957.1m of cash and investments at 30 June 2026.8
  • The FY2025 dividend was €14.60 gross per share, up 4.3%, paid from 16 June 2026.1,3
  • The share has traded in the Surveillance category since 13 July 2026, its free float short of the 15% minimum the ATHEX Rulebook requires.6,7
  • The abolition of land-border duty-free sales from 2026 removes a channel historically worth 6-8% of domestic volumes.1
Sources
  1. 1.Annual Financial Report 2025Karelia Tobacco Company Inc. · 28/04/2026official
  2. 2.Annual Report 2025Karelia Tobacco Company Inc. · 06/2026official
  3. 3.Corporate announcement on the payment of the FY2025 dividendKarelia Tobacco Company Inc. · 06/2026official
  4. 4.Announcement of the appointment of two market makersKarelia Tobacco Company Inc. · 30/09/2025official
  5. 5.About usKarelia Tobacco Company Inc. · 10/09/2026official
  6. 6.Issuer record and announcement history for ΚΑΠΝΟΒΙΟΜΗΧΑΝΙΑ ΚΑΡΕΛΙΑ Α.Ε.Euronext Athens · 11/09/2026official
  7. 7.Χρηματιστήριο – Free float: Στην Επιτήρηση οι Attica, Καρέλιας κι άλλες πέντε εισηγμένεςNaftemporiki · 11/07/2026
  8. 8.Reviewed H1 2026 consolidated interim financial reportKarelia Tobacco Company Inc. / Euronext Athens · 28/09/2026official
  9. 9.H1 2026 Financial Results CommentaryKarelia Tobacco Company Inc. / Euronext Athens · 28/09/2026official
AI-drafted from the cited sources · 30/09/2026 · v4 · ✓ checked by an independent second modelKarelia Tobacco Co. S.A.Website ↗
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.