45 years of innovation and continuous growth were completed by “Dromeas,” with its “starting point” being Serres.

The “Dromeas”, running a “marathon” of 45 years, overcoming the “obstacles” that arose during this journey, developed admirable innovation and speed of adaptation to market needs, resulting today in a vertically integrated company that successfully competes with international giants and has been established as the exclusive supplier of the European Commission and the German army.

The path of the company founded by the brothers Athanasios, Georgios, and Ioannis Papapanagiotou has no “finish line” but constantly new “starting points” that open up new development prospects. With an annual turnover reaching 32,000,000 euros, investments of 6.5 million euros in the last 5 years, and entry into new digital markets, the sustainability and competitiveness of the office furniture industry headquartered in the Industrial Area of Serres is ensured.

“Dromeas” has a clear export orientation, directing 75% of its production to international markets. The company’s human resources, which today number 340 employees, constitute yet another strong competitive advantage.

At the company’s facilities in the Industrial Area of Serres, a commemorative event was organized to celebrate the 45 years since the founding of “Dromeas,” where there was an opportunity to review its journey and express thanks to all those who played a decisive role in its evolution.

“Dromeas,” with its 45-year journey, certifies that Serres companies, armed with innovation, have the ability to achieve the much-desired extroversion.

The “acceleration” of “Dromeas”

The chairman of “Dromeas,” Mr. Athanasios Papapanagiotou, made a retrospective of the company’s history starting from its founding in 1979. The foundation stone of the facilities in the Industrial Area was laid by Mr. Achilleas Karamanlis.

Initially, the company was engaged in the manufacture of caravans. Their construction was pioneering, allowing higher speeds than conventional ones due to limited vibrations. Despite the initial success, production was discontinued due to high operating costs and banks’ refusal to finance the project.

Subsequently, the Serres company turned to office furniture production and reached the point of being listed on the stock exchange.

The company’s investments were large and bold compared to its size. From 2001 to 2009, total investments reached 45,000,000 euros. Investments were made not only with funds raised from the stock exchange but also by borrowing money for this purpose.

Vertical integration of “Dromeas” production became its major competitive advantage in the international tenders it participated in. It holds more than 30 patents.

The fact that Dromeas was the first Greek company to export office furniture makes its achievement even more remarkable. Today, 75% of its production is sold in foreign markets.

In 2009, with the collapse of sales due to the crisis, it won the first European Commission tender, with a budget of 40,000,000 for five years. The offer with which Dromeas won the tender reached 28,000,000 euros.

The European Union repeated the same tender in 2015 and 2021, awarding the contract again to the Serres office furniture industry. Thus, Dromeas became the exclusive supplier of office furniture to the European Union from 2009 until 2027.

Similar successes were recorded with the German army. From 2013 until today, the Papapanagiotou family factory in the Industrial Area of Serres has supplied the German Army with 1,200,000 lockers. The tender for the supply of the German Army with 60,000 electric desks was a topic of discussion in Europe.

Despite its limited size compared to multinational giants it competed against, Dromeas won such a large tender. The delivery duration of the electric desks was three years, and impressively, there was not a single defective one.

During its 45 years since its founding, the workforce it employed multiplied. The 30 employees who worked on caravan production have now reached 340. An indicator of the company’s growth is that covered areas have increased from 600 sq.m. to 50,000 sq.m. Annual sales rose from 200,000 euros to 32,000,000 euros. EBITA increased from 20,000 euros to 7,500,000 euros.

However, investments continue to modernize mechanical equipment, absorbing 1,500,000 euros annually. In the last 5 years, the Papapanagiotou family invested approximately 6.5 million euros.

Mr. Ath. Papapanagiotou’s “thank you”

Thanks were expressed by the chairman of Dromeas, Mr. Athanasios Papapanagiotou, to his brothers George and John, with whom he started Dromeas, to Achilleas Karamanlis who helped at the company’s start by intervening with the then investment bank ETBA for the relevant financing, to the late Sotiris Grigoriadis, director of ETBA Thessaloniki, to Nikos Karamouzis, CEO of Eurobank in 2000, who undertook the listing of Dromeas on the stock exchange when the main listing advisor resigned, to Panagiotis Kontalexis, who at the same time participated with a large share of stock purchases, which he still holds predominantly today, to the late Takis Iliadis, owner of Helman, to the staff of Dromeas, as well as the first shareholders, the then secretary Konstantina Karabela, Christodoulos Antoniadis, former deputy CEO of Piraeus Bank, who financed investments in photovoltaic parks of 2.5MW when all banks, as Mr. Papapanagiotou said, did not want to hear about such investments. Also, the systemic banks Alpha Bank, Piraeus, National, Eurobank, and Attica that participated in bond loans and supported the company with working capital. The Cooperative Bank of Serres was characterized as very valuable by Mr. Papapanagiotou, which in cooperation with the Export Credit Insurance Organization financed Dromeas during the decade of the economic crisis. Attica Bank, which actively participates in financing foreign projects over the last 5 years.

The journey of Dromeas, said Mr. Papapanagiotou, deserves to be studied, evaluated, and become an example of manufacturing industry, confirming also the statement of Prime Minister Kyriakos Mitsotakis, who during his recent visit to the facilities of the Industrial Area of Serres emphasized that Dromeas represents the government’s absolute vision for Greek entrepreneurship.

Konstantinos Ath. Papapanagiotou: Dromeas’ commitment to innovation remains active.

The successful continuation of this path was described by the company’s CEO, Mr. Kostas Papapanagiotou, who stressed that the goal is to maintain the family character of the company, as conditions allow.

The company’s targets include expanding its international presence, developing strategic partnerships, and leveraging the new challenges brought by globalization. According to Mr. Papapanagiotou, the American market may serve as a pillar of this effort in the coming years.

The company’s strategy includes penetrating new digital spaces with the development of e-commerce and strengthening its presence on major online sales platforms. Dromeas’ participation on the Amazon platform with new products aims, as Mr. Konstantinos Ath. Papapanagiotou explained, beyond increasing sales, at enhancing brand recognition in countries like France and Germany.

Technology is changing the world, and Dromeas aims to be at the forefront of this change. Recently, a new B2B platform was completed, which combined with the rational product coding system, constitutes the new tool for code finding, order registration, and overall support of the sales network.

The company’s digital transformation is underway. At the same time, the Serres-based industry has invested 6.75 million euros in the last five years for upgrading and procuring new mechanical equipment in all production departments.

Dromeas has also significantly improved its financial position in recent years, reducing its long-term bank debt from 23.3 million euros in 2016 to 13 million euros in June 2024. A reduction of 45% in just 7.5 years. This repayment became feasible due to the company’s successful trajectory and sales growth.

The management’s goal at “Dromeas” remains the continuation of this path, ensuring that the company will remain healthy and sustainable in the long term. Mr. Kon. Ath. Papapanagiotou described the human resources as the “heart” of the company, recognizing that they constitute the driving force behind every success. The future of the company, he concluded, appears bright and full of challenges and opportunities.

The event was coordinated by the vice president of Dromeas, Mr. Grigoris Zarotiadis. Attending the event were former minister Mr. Achilleas Karamanlis, MPs Mr. Tasos Chatzivasileiou, Fotini Arampatzi, and Theofilos Leontaridis, the regional governor of Serres Mr. Pan. Spyropoulos, the mayors of Serres Ms. Barbara Mitliagka, Em. Pappas, Mr. Dimitris Notas, Sintiki Mr. Georgios Tatsios, Irakleia Mr. Kleanthis Kotsakiakhidis, the president of the Serres Chamber of Commerce Mr. Ath. Malliaras, among others.

Tasos Chatzivasileiou: “Dromeas” confirms that in Serres we can produce high-quality products.”

MP of Serres, Mr. Tasos Chatzivasileiou, praised “Dromeas,” noting that for 45 years the high-quality products of the Serres industry have traveled from Greece to the entire world.

He did not hide his joy whenever he sees furniture from the company “Dromeas” in European countries and other parts of the world, because this confirms, as he mentioned, that in Serres we can produce high-quality products.

Mr. Chatzivasileiou gave a big bravo to the “visionary entrepreneur,” Athanasios Papapanagiotou, and his family, who “started from scratch and built step-by-step a global industry, like Dromeas.”

The MP of Serres and Athanasios Papapanagiotou share common roots from Provatas – Serres, and this, Mr. Chatzivasileiou said, is a reason for him to feel a little more emotional and proud.

He also credited the company’s employees for their dedication to the Papapanagiotou family’s vision.

“Dromeas,” with its 45-year successful course, has gone beyond the narrow limits of the region and Greece, distributing its products worldwide, said the Regional Governor of Serres, Mr. Panagiotis Spyropoulos.

The Regional Unit of Serres supports the Serres company concretely by covering its office equipment needs from “Dromeas,” noting that it excels in quality.

Ath. Malliaras: “Proud that among the ranks of the Chamber of Commerce there is a company like ‘Dromeas’”

The president of the Serres Chamber of Commerce, Mr. Athanasios Malliaras, expressed his satisfaction that a Serres company has gained nationwide recognition, playing a leading role in exports among Greek companies.

He wished Mr. Papapanagiotou and “Dromeas” to reach 100 years and to continue presenting an upward trajectory.

Mr. Malliaras declared himself proud, as president of the Serres Chamber of Commerce, of the existence of companies like “Dromeas,” which represent our region with merit both inside and outside Greece.

Mayor Em. Pappas: It is proven that local entrepreneurship can achieve great things”

“Dromeas” is one of the top companies in office furniture, having traced a great 45-year course, stated the Mayor of Em. Pappas, Mr. Dimitrios Notas.

He noted that the course of this Serres company proves that local entrepreneurship can achieve great things beyond the agro-food sector and also in the industrial sector, provided there is vision, goal, and hard work.

He congratulated the ownership of Dromeas, noting that they have devoted their lives to their company, while at the same time greatly supporting the Serres economy.