January 13th, 2020
Papoutsanis: 26% increase in turnover in 2019
- Sales amounted to €30.6 million, compared to €24.2 in 2018
- Turnover growth has been mainly achieved via the strengthening/expansion of partnerships for third-party product manufacturing and the hotel industry in Greece and abroad, as well as via the growth of soap noodles sales abroad
- Exports amounted to €15.0 million, showcasing a 50% increase
Papoutsanis SA reported a significant 26% turnover growth in 2019 compared to 2018. Specifically, the value of Papoutsanis sales in 2019 amounted to €30.6 million, compared to €24.2 in 2018
Papoutsanis' growth in turnover is due to new partnerships and expansion of existing ones in third party manufacturing as well as due to the collaborations in the hotel products sector in Greece and abroad. The further growth of the soap noodles sales in overseas markets also had a positive impact on the company's turnover growth.
Papoutsanis exports amounted to €15 million in 2019, representing 49% of total turnover. 18% of total turnover comes from Papoutsanis brand sales in Greece and abroad, 30% from hotel sales, 38% from the third-party production sales and 14% from industrial soap noodles sales.
It is worth noting that Papoutsanis, in the recent decade and amidst of the Greek financial crisis, more than doubled sales, recording double-digit growth rates of more than 15%, annually, in the last four years. Specifically, the sales value of the company in 2010 was €12.9 million while in 2019 it reached €30.6 million.
Menelaos Tassopoulos, CEO, Papoutsanis, commented: "We are very pleased with the 2019 performance. Our ever-evolving product portfolio, the trade initiatives and the partnerships we developed in different areas have contributed to the significant turnover growth, laying the foundations for the new year. Having implemented a consistent and successful extroverted strategy during the last few years, we focus on developing all Papoutsanis product categories. Meanwhile, we strive to maintain the company's momentum, with the aim of continuously increasing our turnover with double-digit growth rates in the medium term."