Papoutsanis: Over 30% increase in 2020 turnover


Press Release


January 21st, 2021


Papoutsanis: Over 30% increase in 2020 turnover


  • Sales are expected to exceed € 40.5 million, compared to € 30.7 million in 2019
  • Branded products and third-party manufacturing categories significantly contributed to the increase of the turnover while growth of soap noodles category also a positive driver for 2020 sales.
  • Exports remain a major growth pillar, representing 50% of total turnover.
  • For the fifth consecutive year Papoutsanis achieves double-digit growth rates, over 30% for 2020. The company has more than tripled its sales in the last decade.


Papoutsanis recorded improved performance in 2020, a year with numerous important challenges. Specifically, the company's turnover is estimated to exceed € 40.5 million, compared to € 30.7 million in 2019, reaching, once again, double-digit growth rates of  over 30%.


Papoutsanis’ turnover growth was mainly driven by the high performance of branded products and third-party manufacturing categories. In addition, the increase in sales of soap noodles, the raw material needed to produce solid soap, was also noteworthy. The company, hence, managed to offset part of the sales reduction, both in Greece and abroad, in the hotel amenities category, which in 2020 fell by 66% compared to 2019.


Papoutsanis’ exports continue to contribute greatly to the company's turnover, representing more than 49% of total 2020 sales.


Menelaos Tassopoulos, Chief Executive Officer of Papoutsanis SA commented:


"We are quite satisfied with the progress achieved in 2020, given that it was an unprecedented year that caused upheavals on a socioeconomic level worldwide. During  difficult and demanding times, we were able to quickly adapt to the new conditions and managed, for the fifth consecutive year, to record double-digit growth rates which, this year, exceeded 30%. Our success is also due to the business strategy we have been following based on different complementary areas of activity. In this context, our entry to the disinfectants and biocides market helped us compensate for the losses in the hotel amenities category. We aim to maintain our double-digit growth path in 2021, focusing on sustainability, extroversion and innovation. Moreover, we are further strengthening marketing of our branded products and the consolidation of commercial initiatives in other areas of activity, while continuing to implement our investment plan."