PRESS RELEASE

9 April 2025

Papoutsanis: Announcement of Turnover for the first quarter 2025

"21% sales growth with increase of exports and strong double-digit growth of Papoutsanis branded products"

Papoutsanis SA, a leading Greek soap and liquid cosmetics company in Greece and the largest producer of solid soaps in Europe, announces its turnover for the first quarter of 2025.

Turnover amounted to EUR 17.2 million (compared to EUR 14.2 million in the corresponding quarter of 2024), an increase of 21%, with the share of exports representing 61% of total turnover.

Regarding the contribution of the four business segments to the Q1 2025 turnover, 28% of the total revenue comes from sales of Papoutsanis branded products in Greece and abroad, 15% from sales to the hotel market, 42% from third party manufacturing and 15% from industrial sales of specialty soap bases.

For 2025, the Company estimates double-digit sales growth, thanks to the expansion of existing and the launch of significant new partnerships, as well as through further strengthening of sales of branded products with dynamic expansion into new categories and channels, both locally and internationally.

Overview by Activity Sector

Branded Products: The category shows strong growth of 26% compared to the corresponding quarter in 2024, as a result of the dynamic expansion of the product portfolio and the Company's entry into important new household care categories. Specifically, Papoutsanis' sales in the homecare categories almost doubled in Q1 (+91% year-on-year), thanks also to the positive consumer response to the Company's innovative products, while sales in the traditional business categories, those of personal care, performed positively alsrecording 4% growth in Q1 2025 compared to Q1 2024, gaining share in a market that moved marginally positive (+0.6% in value in the two months of January-February 2025 compared to the same period last year based on market data for organized retail).

Hotel Products: Sales in this category increased by 34% in Q1 2025, driven by both growth in sales of Papoutsanis branded hotel products as well as sales of third-party hotel products overseas.

In particular, sales of Papoutsanis branded hotel products increased by 37%, driven by exports, which grew at a strong double-digit rate (+48%) in Q1 2025 compared to the corresponding period in 2024, while sales of branded hotel products in the domestic market started equally strong (+32% in Q1 2025 compared to Q1 2024).

Third party products (industrial sales, private label): Third party contract manufacturing sales showed significant growth in Q1 as they closed with a +21% increase compared to the corresponding period in 2024, thanks to the expansion of cooperation with existing customers.

Industrial soap sales: The category continued its upward trend, increasing by 5% compared to Q1 2024 mainly through the expansion of the customer base.