Dromeas has completed 45 years of innovation and continuous growth, with its 'starting point' in Serres.

The “Dromeas” company, completing a “marathon” of 45 years, overcoming the “obstacles” that arose along its journey, has developed remarkable innovation and rapid adaptability to market needs, making it today a vertically integrated company that successfully competes with international giants and has become the exclusive supplier of the European Commission and the German Army.

The journey of the company, founded by the brothers Athanasios, Georgios, and Ioannis Papapanagiotou, has no “finish line” but continually presents new “starting points” opening up new growth opportunities. With an annual turnover of €32,000,000, investments of €6.5 million in the last five years, and expansion into new digital markets, the sustainability and competitiveness of this office furniture industry based in the Industrial Area of Serres are ensured.

Dromeas has a clear export orientation, directing 75% of its production to international markets. Its workforce of 340 employees represents another strong competitive advantage.

At the company’s facilities in the Industrial Area of Serres, a commemorative event was organized to celebrate 45 years since the founding of Dromeas, providing an opportunity to review the company’s history and to express gratitude to all who played a crucial role in its development.

Dromeas’ 45-year journey demonstrates that companies in Serres, armed with innovation, have the potential to achieve significant international outreach.

The “Acceleration” of Dromeas

The President of Dromeas, Mr. Athanasios Papapanagiotou, reviewed the company’s history, starting from its foundation in 1979. The cornerstone of the facilities in the Industrial Area was laid by Mr. Achilleas Karamanlis.

Initially, the company was engaged in the production of caravans. Their construction was pioneering, allowing higher speeds than conventional models due to reduced vibrations. Despite early success, production was discontinued due to high operational costs and the reluctance of banks to finance the venture.

Subsequently, the Serres-based company shifted to office furniture production and eventually became listed on the stock exchange.

The scale of Dromeas’ investments, relative to its size, was significant and bold. Between 2001 and 2009, total investments reached €45,000,000. These funds came not only from the stock market but also from company loans.

The vertical integration of Dromeas’ production became its major competitive advantage in international tenders. The company holds over 30 patents.

Being the first Greek company to export office furniture makes this achievement even more remarkable. Today, 75% of its production is sold abroad.

In 2009, when sales collapsed due to the economic crisis, Dromeas won its first European Commission tender with a budget of €40,000,000 over five years, offering €28,000,000.

The same tender was repeated by the EU in 2015 and 2021, and Dromeas was again awarded the contract, becoming the exclusive supplier of office furniture to the EU from 2009 to 2027.

Similar successes were achieved with the German Army. Since 2013, the Papapanagiotou family factory in Serres has supplied 1,200,000 cabinets. The tender for 60,000 electric desks received wide attention across Europe.

Despite its smaller size compared to multinational competitors, Dromeas won this major tender. The delivery period for the electric desks was three years, and impressively, not a single unit had defects.

Over its 45-year history, the company’s workforce grew from 30 employees producing caravans to 340 today. The facility area increased from 600 m² to 50,000 m². Annual sales grew from €200,000 to €32,000,000. EBITA rose from €20,000 to €7,500,000.

Investments continue to modernize the machinery, with an annual expenditure of €1,500,000. Over the last five years, the Papapanagiotou family has invested approximately €6.5 million.

Mr. Athanasios Papapanagiotou’s Gratitude

Mr. Athanasios Papapanagiotou expressed his thanks to his brothers Georgios and Ioannis, with whom he founded Dromeas; to Achilleas Karamanlis, who helped start the company by intervening with the then-investment bank ETBA for financing; to the late Sotiris Grigoriadis, Director of ETBA Thessaloniki; to Niko Karamouzis, CEO of Eurobank in 2000, who completed Dromeas’ stock market listing; to Panagiotis Kontalexis, who purchased a large share of stock and still retains most of it; to the late Takis Iliadis, owner of Helman; to Dromeas’ staff and early shareholders; to his secretary Konstantina Karampela, who insisted on participating in the EU tender in 2009; to Christodoulos Antoniadis, former Deputy CEO of Piraeus Bank, who financed 2.5 MW photovoltaic investments; to systemic banks Alpha Bank, Piraeus, National, Eurobank, and Attica for participating in bond loans and supporting working capital; and to the Cooperative Bank of Serres, which financed Dromeas during the economic crisis in collaboration with the Export Credit Insurance Organization. Attica Bank also actively financed foreign projects over the last five years.

Mr. Papapanagiotou stated that the Dromeas journey deserves study, evaluation, and recognition as a model manufacturing company. This confirms the statement of Prime Minister Kyriakos Mitsotakis, who during his recent visit to the Serres Industrial Area said that “Dromeas represents the government’s ultimate vision for Greek entrepreneurship.”

Commitment to Innovation

The company’s CEO, Mr. Kostas Papapanagiotou, highlighted that Dromeas aims to maintain its family-owned character while expanding its international presence through strategic partnerships and seizing globalization opportunities. The U.S. market could serve as a key pillar for the coming years.

The strategy includes expansion into digital channels, e-commerce, and major online marketplaces. Participation in Amazon aims to increase both sales and brand recognition in countries such as France and Germany.

Dromeas is at the forefront of technological change, recently completing a new B2B platform combined with product codification for streamlined ordering and sales support.

Digital transformation is ongoing, alongside €6.75 million in investments over the last five years for upgrading and acquiring new machinery across all production departments.

The company has also improved its financial position, reducing long-term bank debt from €23.3 million in 2016 to €13 million by June 2024, a 45% reduction in just 7.5 years, enabled by successful sales growth.

The management’s goal remains to continue this trajectory, ensuring long-term health and sustainability. Mr. Kostas Papapanagiotou described the workforce as the “heart” of the company, the driving force behind every success. The company’s future promises opportunities and challenges.

Event Attendance and Recognition

The event was coordinated by Dromeas’ Vice President, Mr. Grigoris Zarotiadis. Attendees included former Minister Achilleas Karamanlis; MPs Tasos Chatzivasileiou, Foteini Arabatzi, Theofilos Leontaridis; Serres Deputy Regional Governor Panagiotis Spyropoulos; Mayors Barbara Mitliagka, Em. Pappa, Dimitris Notas, Georgios Tatsios, Kleonthis Kotsakiakhidis; and the President of the Serres Chamber of Commerce, Athanasios Malliaras, among others.

Tasos Chatzivasileiou: “Dromeas proves that high-quality products can be made in Serres.”

MP Tasos Chatzivasileiou praised Dromeas, noting that for 45 years, its high-quality products have traveled worldwide. He congratulated founder Athanasios Papapanagiotou and his family for building a global industry from scratch, step by step. Their shared origin from Provata – Serres added personal pride.

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

Deputy Regional Governor Panagiotis Spyropoulos: Dromeas has expanded beyond Greece, distributing products worldwide.

Athanasios Malliaras, President of the Serres Chamber of Commerce: Proud that the Chamber counts a company like Dromeas, which represents the region nationally and internationally. Wished Dromeas a long and successful future.

Mayor Dimitris Notas: Dromeas demonstrates that local entrepreneurship can achieve great things in the industrial sector if there is vision, goals, and hard work. He congratulated the owners for dedicating their lives to the company and supporting the Serres economy.