Calpak, Greece’s largest manufacturer of solar water heaters and hot water systems, has forecast its financial results for 2026, estimating that sales will rise by 25%, driven mainly by exports.
Turnover is expected to reach €22.5 million, up from €18 million in 2025, the company said. In the previous year, earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 14.3% compared with 2024, to €2.87 million. The company’s growth is largely driven by exports: 55% of sales, or about €9.9 million, came from abroad, across the 40 markets where Calpak sells its products.
Three-year plan to transition to integrated thermal energy solutions
Calpak is implementing a three-year investment plan aimed at transforming it into a provider of integrated solutions for generating, storing and managing thermal energy. The plan rests on two main pillars: expanding production capacity to meet demand in Greece and abroad, and shifting its portfolio towards high-quality, technologically advanced thermal energy systems.
A key part of the company’s strategy is the construction of a new building at its Corinth facilities, which will house high-tech production lines, an organised warehouse and the Calpak Academy, where the company trains its staff.
One of the country’s most advanced manufacturing facilities
Calpak’s manufacturing facility now covers 51,000 sq m and is highly automated. There is one robotic arm for every four production workers, an automation density among the highest in Europe. The Corinth facility is the first factory in Greece with a private 5G network, while machine-learning algorithms are used in robotic welding.
“With our three-year investment plan, we are transforming Calpak from a solar water heater manufacturer into a provider of integrated solutions for generating, storing and managing thermal energy. Our 2025 results show that a Greek manufacturer can grow with an outward-looking business model: more than half of our sales come from 40 overseas markets, where we compete on quality and technology. We are investing in technology and, above all, in our people, who are making this growth a reality,” said Panagis Konstantinidis, chief executive of Calpak.
Calpak was founded in 1975 as a subsidiary of BP. In 1976, it became the first company in Europe to have its own laboratory for measuring the performance of solar collectors. Today, it holds two European patents and has participated in two Horizon 2020 programmes. It is also the only Greek company in the sector to have received a Red Dot Design Award. It employs 120 people.
In the coming weeks, Calpak will unveil a new generation of systems for producing fresh hot water, developed by the company’s research and development department. This is the first product under its new strategic direction.