Paputsanis closed the nine months of January-September 2022 with strong gains, continuing its upward trajectory despite the current challenging economic environment inside and outside of Greece. At the same time, the company, which is one of the largest soap manufacturers in Europe, further increased its extroversion.

According to what the listed company announced yesterday, its turnover increased by 39% to 53 million euros from 38.32 million euros in the corresponding period of 2021. The significant increase in turnover is due to the restart of the hotel market in Greece and abroad. and in boosting sales of specialty soaps and manufacturers to third parties in Greece and abroad, coupled with higher selling prices (mainly in the last two categories) to offset cost increases as much as possible.

The export value for Paputsanis in the current period was 34.9 million euros compared to 22.5 million euros in the nine months from January to September 2021, representing 66% of the total turnover and showing an increase of 55%.

In nine months, turnover increased by 39% compared to the corresponding period in 2021.

With regard to the contribution of the four sectors of activity to the overall performance, it is noted that 16% of total revenue comes from sales of products under the brand name “Paputsani” in Greece and abroad, 23% from sales in the hotel market, 41% from production for third parties and 20% from the industrial sale of special soap masses.

In particular, sales in the branded category show a 3% decline due to the downward trend in the general retail market and, mainly, the market for antiseptics. It is worth noting that in the period from January to September 2022, in the categories in which Paputsanis operates, there was an overall drop in the cost of about 6.1% compared to the corresponding period in 2021, while the largest losses were recorded in the category of antiseptics (- 33.3%). Excluding antiseptics, sales of Paputsanis brand products increased by 12.5%, which indicates faster growth in the market context and therefore occupies a significant share.

Sales in the hotel products category are up 195%, which is an expected development as tourism actually reopened from July last year.

Sales growth of 12% was recorded in the category “Products of third parties” (industrial sales, private labels). The increase was mainly due to the strengthening of partnerships with multinational companies for the production of their products. A significant increase of 74% was recorded in industrial sales of bar soap, a category that is mainly concerned with exports. It is worth noting that in the second half of 2021, a new soap production plant was put into operation, doubling the company’s production capacity for these products.