Papoutsanis: 45% increase in turnover in the first quarter

Papoutsanis SA announced strong growth for the first quarter of 2022.

In particular, as announced by the listed company, the operations’ Circle shows a 45% increase with sales amounting to 14.9 million euros compared to 10.3 million euros in the corresponding period of 2021. The significant increase in turnover is attributed to the partial restart of the hotel market in Greece and mainly abroad, doubling the sales of special soap masses abroad and finally strengthening the producers for third parties.

The value of exports for Papoutsanis, one of the largest soap producers in Europe, amounted to 11.1 million euros compared to 6.1 million euros in the first quarter of 2021, representing 74% of total turnover and showing growth by 83%.

Regarding the contribution of the sectors of activity to the total figures, it is pointed out that 16% of the total income comes from sales of Papoutsani branded products in Greece and abroad, 18% from sales in the hotel market, 46% from productions of products for third parties and 20% from industrial sales of special soap masses.

Overview by Sector of Activity

Branded goods: The category shows a marginal decrease of 3% compared to a high first quarter of 2021, when the Company started to directly serve the large retail chains, but mainly due to the significant downward trend of the overall retail market compared to the same period last year. It is worth noting that in the first two months of 2022, the markets in which Papoutsanis operates fell by 8%, while the forecast for March is negative. Papoutsanis has significantly increased its share in these categories, covering almost the entire fall that comes from the reduction of consumer demand, and the strong plan behind the branded products allows us to expect a dynamic second quarter.

Hotel Products: Significant increase in sales compared to 2021. This category in the corresponding period last year moved to very low levels due to the pandemic while this year the relevant sales are enhanced in Greece but mainly abroad.

Third party products (industrial sales, private label): Increase in sales by 14% compared to 2021. The increase came from the significant further strengthening of collaborations with multinational companies for the production of their products, the development of the clientele and the continuous expansion of the range of products offered by Papoutsanis.

Industrial sales of soap masses: There was an increase of 106% in 2022 in this category, which mainly concerns exports. The growth is due to the consolidation of the company as one of the main suppliers of special soap masses in the international market, to the expansion of the clientele as well as to the continuous strengthening of the offered range of products. It should be noted here that from the second half of 2021 the new soap production unit has been put into operation, doubling the production capacity of the company in these products. At the same time, the launch of synthetic soap masses, which are specialized and environmentally friendly products, is expected to further strengthen the category.

“Despite the ongoing turmoil due to the effects of the pandemic but also the impact of geopolitical developments, in the first quarter of 2022 we achieved a significant increase in our turnover,” he said. Mr. Menelaos Tasopoulos, CEO of Papoutsani SA He added: “The excellent course of exports with the very large increase in sales of hotel products and the strengthening of industrial sales of soap masses, confirm the important position of Papoutsani in the industry internationally. In addition, increased sales of third party products and the strengthening of “Our branded products in retail with new and innovative products, such as the new Natura Advanced Protect cream soap, further strengthen our position. We always continue according to our investment plan aiming at high returns for the whole year”.