Summary:

• The sector is performing well on average, but is excellent for oil producers.
• Food and drinks companies suffer from closed restaurants and a weak summer season.
• For this year, the forecasts are for recovery and growth.

Food, as expected, proved to be resilient to the Covid-19 crisis. Last year, the sector was among the few  in which average revenues grew, albeit weakly. The growth of the 30 largest  companies in the ranking is by 3.19%. This is almost twice lower than in 2019 (6.6%). A look at the specific producers also shows differences: the growth comes mainly from oil producers (by 26%) due to the international rise in the price of sunflower oil, and there are stronger declines in beverages, probably due to lower consumption in restaurants and the weak summer season . Thus, if the five cooking oil producers are removed from the ranking, the average result becomes a decrease of almost 5%.
However, the average profitability remains almost the same - 6% against 6.7% for 2019. Only two companies are in the red, as at Mondelize the loss is too small, while at Kamenitza it is relatively large.

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