Papoutsanis Sa · ATHEX:PAP
Papoutsanis Sa — Investor Day (2025)
38 slides from Papoutsanis Sa's investor day presentation, 2025
Slide 1: Honoring our Heritage, Powering our Future
Honoring our Heritage Powering our Future INVESTOR DAY | ATHENS 2025
Slide 2: Agenda
AGENDA 03. Papoutsanis at a glance 10. Business Performance Highlights H1 2025 & 9M 2025 Trading update 19. Company Vision & Growth Strategy 33. Outlook 35. Key Take-Aways 2 INVESTOR DAY 2025
Slide 3: A leader in soap production in Europe
A leader in soap production in Europe Established: #1 manufacturer 1870 in Bar Soap in Europe 18,000 tons People: of soap produced in 2024 203 9M 2025: Domestic Sales Exporting to 46% and Exports 54% 35 countries 3 INVESTOR DAY 2025
Slide 4: With a strong financial history
with a strong financial history In €m 70,7 66,2 62,3 54,8 40,8 Listed on Athens Stock Market Cap* Exchange 1972 €80m 2020 2021 2022 2023 2024 Revenue 5-YEAR CAGR 13% 10,6 8,3 9.2 7,6 7.2 ROE 2024: Quadrupled our 16.7% Revenue since 2015 2020 2021 2022 2023 EBITDA 5-YEAR CAGR 9% 2024 4,9 5,3 3,9 4,1
Slide 5: With complementary product offering
With complementary Asia/Africa/Oceania product offering 4% Providing synergies, resilience and mitigating risk Europe 47% Specialty Bases 12% Own Brands Greece CAGR 2015 – 32% 46% 2024: 40% CAGR 2015 – 2024: 20% North America 3% 3rd Party & PL France, Italy, UK, Spain, Germany, Hungary, Portugal, Po
Slide 6: and a loyal customer base
and a loyal customer base HOTEL AMENITIES THIRD PARTY PRODUCTION SPECIALTY SOAP BASES 6 INVESTOR DAY 2025 Certain strategic partners not included above due to confidentiality agreements
Slide 7: with growth driven by strong brands…
with growth driven by strong brands… 7 INVESTOR DAY 2025
Slide 8: …and innovation
…and innovation Continued 23 Leading New Launches investment in consumer technologies in R&D brands in 2024 2 Vegan GOLD Big, new Natural Award in categories Sustainable Super Market Awards we dynamically entered for our Softeners 8 INVESTOR DAY 2025
Slide 9: It is a unique investment case
It is a unique investment case ▪ A leading Greek Manufacturer with a global reach ▪ A strong heritage and a brand name that speaks to the hearts of the consumers ▪ High quality, innovative and expanding portfolio of products, at competitive pricing ▪ Vertically Integrated with state of the art facil
Slide 10: Financial Results H1 2025 & 9M 2025 Highlights
Financial Results H1 2025 & 9M 2025 Highlights 10 INVESTOR DAY 2025
Slide 11: Highlights First Half 2025
Highlights First Half 2025 Turnover Exports EBITDA Net Profit €40M of total €5.7M €3.2M Turnover +27% 55% +13% +38% PROGRESS Strong growth driven by branded products (+37%) and third-party production (+44%). Gross profit amounted to €14.9 million compared to €12.1 million in the corresponding period
Slide 12: Product offering Highlights - First Half 2025
Product offering Highlights - First Half 2025 Branded Hotel Products 3rd Party/ PL Specialty Bases Sales increased by 37% as Sales increased by 7%, Third party products grew Industrial sales of soap a result of value share driven by both branded by 44% driven by the full bases decreased by 2% growth
Slide 13: A robust investment plan that increased productivity
A robust investment plan that increased productivity Total Capex 2020 – 2025: 40 (€m) Highlights 8,97 8,93 ▪ Increased productivity and efficiency of the vertically integrated production plant thanks to state-of-the-art 6,50 equipment ,digitization and data analytics projects, which 6,40 5,00 enable
Slide 14: Cash Position & Working Capital - First Half 2025
Cash Position & Working Capital - First Half 2025 Working Capital (€m) Free Cash Flow (€m) Net Debt (€m) 22.3 3.000 2.6 5.6 2.500 20.5 4.6 2.000 1.500 1.000 500 0 -500 30.06.2025 31.12.2024 -1.000 -1.500 30.06.2025 31.12.2024 -2.000 -1.7 30.06.2025 31.12.2024 Free cash flow turned Net debt on a down
Slide 15: Papoutsanis Stock Price Evolution
Papoutsanis Stock Price Evolution Period 2/1/2015 – 30/9/2025, in EUR 3,50 3,00 2,50 2,00 1,50 1,00 0,50 0,00 2/1/2015 2/1/2016 2/1/2017 2/1/2018 2/1/2019 2/1/2020 2/1/2021 2/1/2022 2/1/2023 2/1/2024 2/1/2025 15 INVESTOR DAY 2025
Slide 16: With an attractive valuation
with an attractive valuation PEER GROUP ANALYSIS NET DEBT / SHARE PRICE MARKET CAP P/E RATIO (X) P/E RATIO (X) EV/EBITDA (X) EBITDA (X) 30/09/2025 30/09/2025 FY 2024 Trailing FY 2024 FY 2024 (currency units) (million) L'OREAL (€) 368.50 196,484 30.7 32.1 18.8 0.4 BEIERSDORF AG (€) 88.48 19,588 21.5
Slide 17: Trading update 9m 2025
Trading update 9m 2025 Turnover +23% +29% €61m growth in branded products 54% +41% of turnover Growth in Third Party in exports & Private Label 4% +2% reduction in specialty soap Growth in bases due to product mix hotel products 17 INVESTOR DAY 2025
Slide 18: Revenue bridge - 9m 2025
61,1 Revenue bridge - 9m 2025 (In € million) 7,3 0,1 61,1 4,3 -0,3 49,6 Sales 9M 2024 Branded 3rd Party Hotel Amenities Specialty Soap Bases Sales 9M 2025 18 INVESTOR DAY 2025
Slide 19: Company Vision & Growth Strategy
Company Vision & Growth Strategy 19 INVESTOR DAY 2025
Slide 20: The plan on one page
The plan on one page New products with focus on People sustainability & innovation Innovation New markets / penetration in existing GROWTH GROWTH Competitive Cost Strong STRATEGY ENABLERS Speed to market Partnerships Automation/ Spare Capacity Customer base expansion Supply Chain 20 INVESTOR DAY 202
Slide 21: Branded Products
Branded Products 21 INVESTOR DAY 2025
Slide 22: Branded Products Strategy
Branded Products Strategy HIGHLIGHTS Key initiatives ▪ Significant value share growth in personal care Market Share Entry in New Geographical Aquisitions Growth Categories expansion ▪ Entry in sizable Homecare categories ▪ Strong innovation #1 in Hand Wash Pipeline Top 5 in Bath & Shower ▪ Sustainab
Slide 23: Acquisitions: The Arkadi Case
Acquisitions The Arkadi Case €6m €3m ~€2m Before Year 1 Year 3 acquisition (2023) (2025 Est) 23 INVESTOR DAY 2025
Slide 24: Hotel Amenities
Hotel Amenities 24 INVESTOR DAY 2025
Slide 25: Hotel Amenities Strategy
Hotel Amenities Strategy HIGHLIGHTS Key initiatives ▪ #1 player in Greece, with a Build on new Superior Domestic Sustainable Increase 27% est. market share partnerships Customer penetration Solutions Awareness in Europe Service & growth and build ▪ Grew branded hotel exports Centricity through all b
Slide 26: 3rd Party & Private Label
3rd Party & Private Label 26 INVESTOR DAY 2025
Slide 27: Third Party & Private Label Strategy
Third Party & Private Label Strategy HIGHLIGHTS Key initiatives ▪ Globally recognized leader in Customer Existing New product Proactive & One Stop Shop industry with production of base partnerships offering & fast response Supplier to our leading brands expansion growth innovation to market Partners
Slide 28: Specialty Soap Bases
Specialty Soap Bases 28 INVESTOR DAY 2025
Slide 29: Specialty Soap Bases Strategy
Specialty Soap Bases Strategy HIGHLIGHTS Key initiatives ▪ No 1 Soap Manufacturer in Capitalize on Continue to Build an Unlock Deliver Europe with a Global business build awareness international growth in Technical network ecosystem across markets network of previously Expertise & opportunities via
Slide 30: Our building blocks
Our building blocks 1. 2. 3. ORGANIZATION PROCESS & SYSTEMS & & PEOPLE GOVERNANCE TOOLS Capability Building Excellence in execution & Further unleashing simplification our potential ▪ Agility & ▪ Operational ▪ Digital customer efficiency transformation centricity ▪ Resilience, speed ▪ Industry 4.0 &
Slide 31: Underpinned by our sustainability strategy
Underpinned by our sustainability strategy REDUCE WATER EFFICIENT ENERGY SUSTAINABLE CONSUMPTION UTILISATION INNOVATION -26% 82% Concentrated, waterless, vs base year* from renewable resources* eco-friendly products PROGRESS SO FAR 100% plastic free own brand bar > > -4,5T in plastic/year by replaci
Slide 32: A Remarkable Sustainability Case Study
A Remarkable Sustainability Case Study Papoutsanis was the first company in the Greek market to introduce refill pouches for liquid soap in the early 1990s. These refill pouches are environmentally friendly, saving approximately 70% to 80% in plastic use. We utilize monomaterial technology, prioriti
Slide 33: Outlook
Outlook Las PAPOUTSANIS
Slide 34: Outlook 2025 - 2028
Outlook 2025 - 2028 Organic Revenue €100m+ Capex €5m per year Dividend Payout 30% EBITDA margin 16% target 34 INVESTOR DAY 2025
Slide 35: Key Take-Aways
Key Take-Aways Las PAPOUTSANIS SINCE 1870
Slide 36: Key Take-Aways
Key Take-Aways ▪ The largest bar soap manufacturer in Europe, and a leading hotel amenities producer, delivering dynamic growth in new categories ▪ A strong & consistent topline growth, with 17% CAGR 2015-2024, quadrupling net sales. ▪ A solid increase in profitability, with double digit growth in E
Slide 37: Disclaimer
Disclaimer BY VIEWING OR RECEIVING THIS PRESENTATION, YOU ARE AGREEING TO BE BOUND BY THE FOLLOWING LIMITATIONS. This presentation has been prepared by Papoutsanis S.A. (the Company) solely for informational purposes and cannot be used for any other purpose nor can it be addressed to any other perso
Slide 38: Thank You
THANK YOU Happy to answer to your questions