Papoutsanis reported an 8.6% rise in revenue in the first nine months of 2026 to €63.7m, compared with like-for-like sales of €58.6m in the same period of 2025*. Branded products grew 11%, while exports accounted for 56% of revenue.
Pre-tax profit rose 19% to €6.3m, while profit after tax reached €5.2m, an improvement of 9.1%.
| (€) | 9M 2026 | 9M 2025 | Change |
|---|
| Sales | 63,651,874 | 58,596,134 | 8.6% |
| Gross profit | 22,678,014 | 20,181,469 | 12.4% |
| EBITDA | 9,438,916 | 8,473,891 | 11.4% |
| Profit before tax | 6,312,273 | 5,303,175 | 19.0% |
| Profit after tax | 5,231,322 | 4,796,292 | 9.1% |
(*) In 2026, the way discounts under commercial agreements with selected retail customers in the branded products segment are applied changed. The agreed discount is now granted by issuing the customer a credit note rather than an invoice, as was the case through 2025. The change affects sales for accounting purposes, but is offset by a corresponding reduction in distribution expenses, with no impact on the company’s bottom-line profitability.
Results
Revenue reached €63.7m, compared with €58.6m in the same period of 2025, an increase of 8.6%. Exports accounted for 56% of the total, which the company said underlined its strong international focus.
Gross profit came to €22.7m, up 12.4% from €20.2m, with the gross margin rising to 35.6% from 34.4%.
EBITDA (earnings before interest, tax, depreciation and amortisation) reached €9.4m, up 11.4% from €8.5m.
Profit before tax reached €6.3m, compared with €5.3m, up 19%, while profit after tax came to €5.2m, against €4.8m, an increase of 9.1%.
By business segment
Branded products: Sales rose 11%, with growth in both the Greek and international markets. The domestic market was up 10%, while exports grew 23%. Home Care led the increase, rising 21%, while Personal Care also recorded growth of 5%.
Hotel products: The segment was 6% lower than in 2025, affected by reduced third-party production, mainly because of a high prior-year comparison base following spot production runs for a specific customer in the first quarter of 2025. The branded hotel products subcategory continued to expand its customer base in Greece and abroad, growing 10%.
Third-party products (industrial sales, private label): Sales in the segment, which accounts for 44% of total revenue, rose 11%, mainly driven by growth in existing partnerships and expansion into new ones.
Industrial sales of soap bases: Sales rose 11% and, according to the company, are expected to maintain their positive momentum for the rest of the year.
Outlook
For 2026 as a whole, management reaffirmed its forecast of double-digit revenue growth, driven mainly by:
- the expansion of new and existing partnerships,
- continued growth in branded products, and
- new opportunities arising from shifts in the European manufacturing landscape, particularly in third-party production and soap bases.
Higher revenue, combined with targeted measures to improve costs and rationalise expenses, is expected to lead to a double-digit improvement in pre-tax profitability for the full year. Profit after tax is also expected to improve, but at a slower rate, as the company’s use of tax exemptions on part of its investment programmes ended in 2025.
The company noted that geopolitical developments in the Middle East and disruptions to energy and trade flows are keeping energy, fuel and transport costs high, while also putting pressure on the prices of some raw materials. It said it was closely monitoring developments, with the aim of limiting the impact on costs and ensuring uninterrupted supply and operations.
Outlook by business pillar:
- Branded products: These remain a strategic priority and are expected to maintain their momentum in 2026, supported by a broader Personal Care range and greater penetration in Home Care. Exports are also forecast to increase.
- Hotel products: The segment is expected to remain close to 2025 levels. Branded hotel products (Olivia, Olivia Thinks, Sarbacane, Le Jardin Med, Skin Essentials, among others) are expected to continue growing in Greece and abroad, while third-party production, although forecast to remain at satisfactory levels, is expected to decline from 2025 because of the high comparison base.
- Third-party production and specialist soap bases: These are expected to maintain their momentum, mainly through expansion of the customer base, further development of the product range for these customers, and growth in synthetic soap bases.
For 2027, management expects growth to continue, targeting double-digit revenue growth and further improvement in profitability.