Papoutsanis: Turnover announcement for the year 2024

PRESS RELEASE

21 January 2025

Papoutsanis: Turnover announcement for the year 2024

  "6.3% sales growth with exports’ enhancement and strong double-digit growth of Papoutsanis branded products"

Papoutsanis SA, leading Greek soap and liquid cosmetics industry in Greece and the largest producer of solid soaps in Europe, announces its turnover for the year 2024.

Specifically, turnover amounted to €66.2 million (compared to €62.3 million in the corresponding period of 2023), an increase of 6.3%, with the value of exports representing 55% of total turnover.

Regarding the contribution of the four business segments to the 2024 turnover it is noted that 30% of the total revenue comes from sales of PAPOUTSANIS branded products in Greece and abroad, 17% from sales to the hotel market, 36% from third party productions and 17% from industrial sales of special soap bases.

For 2025, the Company estimates double-digit sales growth, as a result of both the expansion of existing and the launch of significant new partnerships, and the further strengthening of sales of branded products, with dynamic expansion into new categories and channels, both locally and internationally.

Overview by Activity Sector

Branded Products: This category shows strong growth of 17% compared to 2023, primarily driven by the ARKADI brand (+69% vs. 2023), and exports (+22% vs. 2023). Excluding the aforementioned areas, sales of PAPOUTSANIS branded products show 6% growth compared to 2023, more than offsetting the decline in the antiseptic category (-14% compared to 2023), thanks to the enrichment of the product portfolio with innovative products, entry into important new categories, dynamic promotional support and the strengthening of distribution and product image in stores.

Hotel Products: Sales in this category increased by 3.5% in 2024, with the main contributor being the PAPOUTSANIS branded hotel products sales. At the same time, third-party hotel product sales abroad maintained 2023 levels, covering the first half downward trend in 2024, which was due to a high base in the previous year.

In particular,  sales of Papoutsanis branded hotel products increased by 9%, driven by exports, which achieved a strong double-digit rate in 2024 (+53%) compared to 2023, creating a strong foundation for the future and strengthening the presence of Papoutsanis brands abroad. Domestic sales of PAPOUTSANIS branded hotel products maintained 2023 levels, reporting an increase of 1%.

Third party products (industrial sales, private label)

The category's sales were at satisfactory levels and closed 2024 down 2.8% compared to 2023, having covered most of the first half of the year (-10% year-on-year), as significant new partnerships started to pay off. In particular, the category strengthened in the second half of 2024, following the launch of a partnership with a major multinational, with a new product portfolio gradually developed during the year, while building a strong base for 2025 as the partnership is in full swing.

Industrial soap sales: In the soap bases category, sales increased by 14% compared to 2023, driven by the expansion of partnerships and product ranges. The Company's goal remains to continuously expand its customer base and further develop its synthetic soap bases.