“Dromeas”, having completed a “marathon” of 45 years, overcoming the “obstacles” that arose along the way, has demonstrated remarkable innovation and adaptability to market demands. As a result, it is now a vertically integrated company successfully competing with international giants, and has been appointed as the exclusive supplier to the European Commission and the German military.

The company, founded by brothers Athanasios, Georgios, and Ioannis Papapanagiotou, follows a path that has no “finish line,” but instead continues with new “starting points” that open up fresh growth prospects. With an annual turnover reaching €32,000,000, investments of €6.5 million over the last five years, and entry into new digital markets, the sustainability and competitiveness of this office furniture manufacturer, headquartered in the Industrial Area of Serres, is ensured.

“Dromeas” maintains a clear export orientation, directing 75% of its production to international markets. Its workforce, which currently comprises 340 employees, represents another strong competitive advantage.

An anniversary event was organized at the company’s facilities in the Serres Industrial Area to celebrate 45 years since the founding of “Dromeas.” The event offered an opportunity to reflect on the company’s journey and to express gratitude to all those who played a pivotal role in its development.

Through its 45-year course, “Dromeas” affirms that businesses in Serres, with “innovation” as their main “weapon,” can achieve the much-desired international outreach.

The “acceleration” of “Dromeas”

The president of “Dromeas,” Mr. Athanasios Papapanagiotou, presented a retrospective on the company’s history, beginning with its founding in 1979. The foundation stone of its 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 for greater speed than conventional models due to reduced vibrations. Despite early success, production was halted due to high operating costs and the refusal of banks to finance the venture.

The Serres-based company then shifted its focus to office furniture production, eventually becoming listed on the stock exchange.

“Dromeas” undertook bold and significant investments, particularly considering its size. Between 2001 and 2009, total investments reached €45,000,000. These were financed not only by stock market proceeds but also through loans.

The company’s vertical integration became its major competitive advantage in the international tenders it participated in. It holds over 30 patents to its name.

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 exported abroad.

In 2009, amidst collapsing sales due to the economic crisis, Dromeas won its first European Commission tender, with a budget of €40,000,000 for five years. The winning offer submitted by Dromeas amounted to €28,000,000.

The same tender was repeated by the European Union in 2015 and again in 2021, with the Serres-based furniture manufacturer once more emerging as the contractor. In this way, Dromeas has been the exclusive supplier of office furniture to the European Union from 2009 through 2027.

Comparable success was also achieved with the German military. From 2013 to the present day, the Papapanagiotou family factory in the Serres Industrial Area has supplied 1,200,000 lockers. The tender for 60,000 electric desks sparked discussions across Europe.

Despite its relatively small size compared to multinational giants, Dromeas won this large-scale tender. The delivery period for the electric desks was three years, and notably, not a single defective product was reported.

Over its 45-year history, the company’s workforce multiplied. From 30 employees manufacturing caravans, it now employs 340. A testament to its expansion is the increase in facility size from 600 sq.m. to 50,000 sq.m. Annual sales have risen from €200,000 to €32,000,000. EBITDA has grown from €20,000 to €7,500,000.

Nonetheless, investments continue, modernizing machinery with annual expenditures of €1,500,000. Over the past five years, the Papapanagiotou family has invested approximately €6.5 million.

Mr. Ath. Papapanagiotou’s “Thank You”

The president of Dromeas, Mr. Athanasios Papapanagiotou, expressed his gratitude to his brothers Giorgos and Giannis, with whom he founded Dromeas, and to Achilleas Karamanlis, who supported the company’s early days by intervening with the then investment bank ETVA to secure funding. He also thanked the late Sotiris Grigoriadis, director of ETVA Thessaloniki; Nikos Karamouzis, CEO of Eurobank in 2000, who facilitated the company’s listing on the stock exchange after the primary advisor withdrew; Panagiotis Kondalexis, who at the time purchased a significant shareholding which he mostly retains to this day; the late Takis Iliadis, owner of Helman; Dromeas’ staff and early shareholders; his former secretary Konstantina Karabela; Christodoulos Antoniadis, former Deputy CEO of Piraeus Bank, who financed the company’s 2.5MW solar park projects when all other banks refused to consider such investments. He also thanked the systemic banks — Alpha Bank, Piraeus, National Bank of Greece, Eurobank, and Attica Bank — for participating in the bond loan and providing working capital support. Mr. Papapanagiotou called the support of the Cooperative Bank of Serres invaluable, noting that, in collaboration with the Export Credit Insurance Organization, it financed Dromeas during the decade-long financial crisis. He also acknowledged Attica Bank’s active involvement in funding international projects over the past five years.

Dromeas’ journey, Mr. Papapanagiotou stated, deserves to be studied, evaluated, and set as an example of a successful manufacturing industry. He echoed the words of Prime Minister Kyriakos Mitsotakis, who during a recent visit to the Serres Industrial Area emphasized that Dromeas embodies the government’s vision for Greek entrepreneurship.

Kon. Ath. Papapanagiotou: Dromeas’ commitment to innovation remains strong.

The company’s continued success was outlined by CEO Mr. Kostas Papapanagiotou, who emphasized that the goal is to preserve the family character of the company, as long as conditions allow.

One of the company’s targets is to expand its international presence, develop strategic partnerships, and capitalize on new opportunities brought by globalization. According to Mr. Papapanagiotou, the American market can be a key pillar of this effort in the coming years.

The company’s strategy includes penetrating new digital channels through the development of e-commerce and strengthening its presence on major online sales platforms. Dromeas’ participation in the Amazon platform with new products aims, beyond increasing sales, to boost brand recognition in countries such as France and Germany.

Technology is changing the world, and Dromeas strives to be at the forefront of that change. A new B2B platform was recently completed, which, combined with the streamlined product code system, serves as a new tool for product code search, order entry, and overall support of the sales network.

The company’s digital transformation is ongoing. At the same time, the Serres-based manufacturer invested €6.75 million over the last five years for upgrades and procurement of new machinery across all production departments.

In recent years, Dromeas has significantly improved its financial position, reducing long-term bank debt from €23.3 million in 2016 to €13 million in June 2024 — a 45% decrease in just 7.5 years. This repayment was made possible due to the company’s successful performance and sales growth.

The company’s management remains committed to continuing this trajectory, ensuring that the company remains healthy and sustainable in the long term. Mr. Konstantinos Ath. Papapanagiotou described the company’s human capital as the “heart” of Dromeas, recognizing that they are the driving force behind every success. He concluded that the company’s future looks bright and full of challenges and opportunities.

The event was coordinated by Dromeas’ Vice President, Mr. Grigoris Zarotiadis. Among those present at the celebration were former Minister Mr. Achilleas Karamanlis, Members of Parliament Mr. Tasos Chatzivasileiou, Ms. Fotini Arampatzi, and Mr. Theofilos Leontaridis, Deputy Regional Governor of Serres Mr. Pan. Spyropoulos, the Mayors of Serres Ms. Varvara Mitliagka, of Emmanouil Pappas Mr. Dimitrios Notas, of Sintiki Mr. Georgios Tatsios, of Irakleia Mr. Kleanthis Kotsakiahidis, and the President of the Serres Chamber of Commerce Mr. Ath. Malliaras, among others.

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

The MP for Serres, Mr. Tasos Chatzivasileiou, praised “Dromeas,” noting that for 45 years, the high-quality products of this Serres-based company have been reaching destinations around the world.

He expressed his joy every time he comes across Dromeas furniture in European countries and other parts of the world, as this confirms, as he mentioned, that Serres is capable of producing top-tier products.

Mr. Chatzivasileiou offered his congratulations to the “visionary entrepreneur” Athanasios Papapanagiotou and his family, who “started from scratch and step by step built a global industry such as Dromeas.”

He and Mr. Papapanagiotou also share a common origin from Provatas, Serres, which, as he stated, makes him feel even more emotionally moved and proud.

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

With its 45-year successful course, “Dromeas” has gone far beyond the borders of the Serres region and Greece, distributing its products worldwide, stated Deputy Regional Governor of Serres, Mr. Panagiotis Spyropoulos.

He added that the Regional Unit of Serres actively supports the local company by meeting its office equipment needs through Dromeas, highlighting its superior quality.

Ath. Malliaras: We are proud to have a company like “Dromeas” within the Chamber’s ranks

President of the Serres Chamber of Commerce, Mr. Athanasios Malliaras, expressed his satisfaction that a company from Serres has achieved national recognition and is a leading force in exports among Greek businesses.

He wished Mr. Papapanagiotou continued success, hoping that “Dromeas” would reach 100 years and maintain its upward trajectory.

Mr. Malliaras said he feels proud, as President of the Serres Chamber of Commerce, to have companies like Dromeas that represent the Serres region honorably both within and beyond Greece.

Mayor of Emmanouil Pappas: Local entrepreneurship is capable of achieving great things

“Dromeas” is one of the top companies in the office furniture industry, with an impressive 45-year history, stated the Mayor of Emmanouil Pappas, Mr. Dimitrios Notas.

He said that the trajectory of this Serres-based business proves that local entrepreneurship can succeed in the industrial sector—not just agri-food—provided there is vision, goal-setting, and hard work.

He congratulated the Dromeas ownership, noting that they have devoted their lives to their business, significantly contributing to the economy of Serres as well.