Papoutsanis SA, the first soap production in Greece, announced its annual financial results for 2023. According to the company’s results, significant development of the product names was observed. More specifically, branded products increased by 36% in 2023 compared to 2022. In 2023 the company’s pre-tax profits amounted to EUR 5,0 million, increased by 28% compared to 2022, which reached EUR 3.9 million. A 36% increase was also noted in profits after taxes in 2023, as they amounted to 4.1m euros for profits of 3.0m euros in 2022. Menelaos Tasopoulos, CEO of Papoutsanis SA, commented: “In 2023, despite the decrease in turnover, we achieved a significant improvement in all profitability indicators and strong performance in the key strategic priorities for long-term growth, ensuring economic robustness and strengthening competitive position in the Greek and international markets. In this context, we successfully focused on exploiting the benefits of completing the 3 year investment plan, strengthening the presence in the retail market and entering the home care market with competitive product proposals and international partnerships with multinationals and other companies that expand the customer base at international level. With regard to this year, despite the volatile macroeconomic environment internationally, the stabilisation of production costs, the encouraging prospects of the domestic market, the new important agreements that have been concluded, and of course our commitment to continuous investment in innovation, sustainability, quality and extroversion create the conditions for continuing our upward trend in turnover and our economic results.”
Papoutsanis: Dynamic development of branded products and significant enhancement of profitability
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in Undertakings