The launch of branded products, sustainability, innovation, and healthy economic development are the main pillars of Papoutsanis’ strategy.
As the management emphasized during the company’s presentation to the Hellenic Investors Association, turnover is estimated to exceed 70 million euros in 2024 and a further improvement in profitability driven by all four categories in which the company operates is expected.
Investments are estimated to amount to 5.5 million euros, of which an amount of 1.5 million euros will concern the installation of photovoltaic systems for the company’s environmentally friendly energy efficiency. EBITDA is estimated to reach 9 million euros, an increase of five points on the percentage of sales compared to the previous financial year.
According to the company’s presentation, 45% of its revenue comes from the Greek market, 44% from the European market, 6% from the USA and 5% from Asia. The production potential of the company amounts to 220 million pieces per year, it employs 200 people and its clientele numbers around 2,000. The company is expected to start production for a large multinational company early 2024.
The goal of Papoutsanis, which already counts 154 years of uninterrupted business activity, is to conquer a larger market share in the field of laundry detergents, dish detergents and also in the shampoo category. The value of this market is estimated at 500 million euros and Papoutsanis has already entered with its own products under the Papoutsanis brand and the Arkadi brand.
Special emphasis is placed on the company’s branded products, the participation of which in its total turnover has increased significantly, from 18% in 2022 to 27% in 2023. Its priorities also remain its geographical expansion in other markets. In 2023 Papoutsanis launched 28 new products, registered 80 new patents and 1 in 3 of its products are environmentally friendly. Regarding the dividend policy of the listed company, the management pointed out that the dividend for the year 2023 will be at the same levels as 2022, however, it did not rule out the possibility of a relative improvement.
