Papoutsanis recorded a 6.3% increase in sales with a boost in exports and strong double-digit growth of its branded products in 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 accounting for 55% of total turnover.
Regarding the contribution of the four business segments to the 2024 turnover, it is noted that 30% of total revenue comes from sales of Papoutsani's 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 mixes.
For 2025, the company forecasts double-digit revenue growth, both as a result of the expansion of existing and the launch of significant new partnerships, and thanks to 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: The category shows strong growth of 17% compared to 2023, driven primarily 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: Category sales increased by 3.5% in 2024, driven by growth in sales of PAPOUTSANIS-branded hotel products. At the same time, third-party hotel product sales abroad performed very well, maintaining 2023 levels and covering the first half's shortfall, which was due to a high base in the previous year.
In particular, sales of PAPOUTSANIS-branded hotel products grew by 9%, driven by exports, which grew at a strong double-digit rate in 2024 (+53%) compared to 2023, creating strong foundations for the future and strengthening the presence of PAPOUTSANIS brands abroad. Domestic sales of PAPOUTSANIS-branded hotel products were close to 2023 levels, slightly stronger (+1% YoY).
Third-party products (industrial sales, private label):
Sales in this category moved at satisfactory levels and ended 2024 down 2.8% compared to 2023, having made up most of the first half lag (-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 codebook gradually developed during the year while building a strong base for 2025 as the partnership is in full swing.
Industrial soap sales: Soapmats category sales increased 14% year-on-year in 2023, resulting from partnership and codebook development. The company's goal remains to continuously expand its customer base and further develop its synthetic soap masses.
