Papoutsanis: 34% increase in 2021 turnover
PRESS RELEASE
January 10th, 2022
Papoutsanis: 34% increase in 2021 turnover
For the 6th consecutive year Papoutsanis SA announces double-digit growth
• Sales reached €54,8 million in 2021 compared to €40,8 million in 2020.
• The total value of exports reached €34 million compared to €20 million in 2020, representing 62% of total turnover increased by 70%.
For the 6th consecutive year, Papoutsanis SA announces a high double-digit increase in turnover which reaches a 34% for 2021, confirming the company’s steadily upward course. Specifically, total sales for the year 2021 reached €54.8 million versus €40.8 million in 2020.
Additionally, Papoutsanis’ exports record a significant increase of 70% compared to 2020 and amounted to €34 million, representing 62% of the total turnover.
It is worth noting that 21% of total revenues of Papoutsanis originates from sales of branded products in Greece and abroad, 13% from hotel market sales, 49% from third parties’ products and 17% from industrial sales of specialty soap bases.
The increase in turnover is attributed to the high performance achieved by the company in all the business segments of its operation.
The company's strategy in developing innovative products with emphasis on sustainability, verticalization and investments in advanced technology mechanical equipment has contributed to its establishment as one of the main international producers in the sectors of its operation.
Overview by Business Segment
• Branded products: Sales of branded products increased by 12% in 2021 compared to 2020. During the year, the positioning of branded products (Karavaki, Natura, Aromatics etc.) in large retail chains was strengthened. It is noted that in 2020 this segment benefited significantly from increased sales of antiseptics due to COVID-19 pandemic.
• Hotel amenities: Sales increased by 126% compared to 2020. This segment was strengthened by the partial recovery of the hotel market in Greece and abroad during the year. Especially in the last quarter, exports were significantly increased due to the materialization of business agreements with international chains, that had been concluded already in 2019 but were delayed due to the pandemic.
• Third party manufacturing (industrial sales, private label products): Sales increased by 24% compared to 2020. The growth originated from the further strengthening of partnerships with multinational companies for the manufacturing of their products, the expansion of the customer portfolio and the continuous expansion of the range of products offered by our company.
• Specialty soap bases: An increase of 34% was recorded in 2021 in the specific segment mainly originating from exports. The growth is attributed to the establishment of the company as one of the main suppliers of specialty soap bases in the international market, the expansion of the customer portfolio as well as the continuous enhancement of the offered range of products. At the same time, the launch of synthetic soap bases, which are special products with very positive environmental footprint and high added value, is estimated to further strengthen the segment.
Mr. Menelaos Tassopoulos, CEO of Papoutsanis SA, commented: "We are very happy to announce for the sixth consecutive year a high double-digit growth rate with a performance that exceeds the goals we had originally set for the year. During 2021, our position in the international markets improved further thanks to the continued strengthening of our branded products, partial recovery of the hotel market combined with significant increase in exports, our commercial partnerships with international companies, the constant development of innovative products with emphasis on sustainability as well as the significant strengthening of sales for specialty soap bases. For 2022 and despite the ongoing effects of the pandemic, we look forward to further strengthen financially while continuing on our growth path by leveraging on the relations we have built with our clients, partners and suppliers, as well as on the company’s extroversion, innovation and strong know-how we have accumulated over the past 150 years”.