Papoutsanis is aiming at the development of its activity and profitability in 2024 based on three pillars: the branded products of Papoutsanis, the hotel products and the categories of producers for third parties and special soap masses.
Meanwhile, an agreement with a new large multinational company is underway and it is estimated that it will contribute to additional sales of approximately six million euros on an annual basis. It is noted that this cooperation has significant prospects for further expansion.
The management intends to propose to the upcoming general shareholders meeting the distribution of a 0.04 euro per share dividend.
According to the company, the pillar of branded Papoutsanis products is a strategic priority and is expected to be significantly strengthened in 2024, through the enrichment of the product range. The hotel products sector is also expected to be a main source of development for Papoutsanis, as the forecasts for tourism are very optimistic, both in Greece and abroad.
Turnover up 15% in 2023
In Greece, the turnover amounted to 28.1 million euros, up 15%, in 2023 thanks to the significant growth of the category of branded products and sales in the domestic hotel market.
Abroad, a decrease of 26% was observed, which results mainly from the categories of producers for third parties due to changes in the product portfolio and cancellations on the part of multinational clients, as a consequence of the increase in costs and a corresponding compression of the profit margins of the specific products. In the category of soap makers, the decrease is due to the normalization of demand after the high needs observed in the year 2022, as a result of delays and increased transport from third countries.
Regarding the contribution of the four sectors of activity to the 2023 turnover, it is pointed out that 27% of the total revenue comes from sales of Papoutsanis branded products in Greece and abroad, 17% from sales in the hotel market, 40% from product productions for third parties and 16% from industrial sales of special soap masses.
