Papoutsani's turnover amounted to € 49.6 million in the first nine months of 2024, compared to € 47.4 million in the corresponding period of 2023, an increase of 5%, with the value of exports accounting for 53% of total turnover.

The company states: "For the full year, we estimate a further strengthening of turnover compared to 2023, as we are already seeing in the first nine months the positive effect of the new partnerships that started in 2024 and will be in full swing in the last quarter of the year."

The company is also in negotiations with large multinationals and smaller companies for new projects that will further boost turnover and profitability, and new projects with existing customers have already been agreed upon, which will boost turnover next year, it said in a statement.

Overview by Activity Sector

Branded Products: The category is showing strong growth of 14% compared to 9M 2023, largely driven by the ARKADI brand, which with its entry into the new laundry care and dishwashing liquid categories is showing an 80% increase in sales. Sales of personal care products under the PAPOUTSANIS brand, excluding ARKADI, increased 2% over the first nine months of 2023, primarily due to exports, which saw a 28% growth.

The Papoutsanis branded products pillar is a strategic priority and is expected to be further strengthened in the last quarter of 2024 through enriching the product range, dynamic advertising support and strengthening our in-store presence.

Hotel Products: Third-party hotel product sales abroad caused the first nine months of 2024's hotel product sales to decline 5%. Third-party overseas sales lagged the prior-year period due to one-off deliveries in early 2023, but improved significantly in Q3 2024.

Sales of PAPOUTSANIS-branded hotel products moved positively, showing sales growth of 10%, driven by exports, which grew at a strong double-digit rate in the first nine months of 2024 (+70%) compared to the same period last year, creating strong foundations for dynamic growth and strengthening the presence of PAPOUTSANIS brands abroad.

Third-party products (industrial sales, private label): sales of this category in the nine months remained at last year's levels, showing a significant improvement during Q3 2024, with new partnerships paying off and reversing the downward trend of H1 2024.

Industrial soap sales: Soapmasters category sales increased 14% compared to 9M 2023. The Company's goal remains to continuously expand its customer base and further develop its synthetic soap masses.