Greek industrial-technology company Raycap is expanding its international footprint and investing heavily in research and production, offering an example of how a Greek manufacturer can build a business far beyond its relatively small domestic market.
Founded by entrepreneur Costas Apostolidis and now led by Kalissa Apostolidis, Raycap reported revenue of €148.3 million in 2025, with pretax profit of €8.9 million and earnings before interest, taxes, depreciation and amortization of €14.3 million.
The company specializes in products including electrical-protection systems and telecommunications-network solutions, positioning it in markets supported by growing investment in power infrastructure, digital networks and connectivity.
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Exports are the centerpiece of its business model. Raycap generated €112.2 million from overseas markets last year, representing 75.7% of total sales. More than three out of every four euros of revenue, in other words, came from outside Greece—a notable level of internationalization for a Greek industrial company.
Raycap is reinvesting significantly in its growth. Capital expenditure on tangible assets reached €7.76 million in 2025, including €6.48 million for buildings and technical projects. The company also invested in machinery and other equipment to strengthen its production base.
Innovation represents another pillar. Research-and-development spending totaled €7.11 million, equivalent to almost 5% of annual revenue. Raycap continued developing products for electrical protection and telecommunications networks while adding specialized employees to its R&D operations. Its workforce averaged 771 employees during the year.
The international strategy isn’t without complications. U.S. tariffs on European imports created uncertainty in 2025, while geopolitical tensions in the Middle East remain another source of risk. Raycap says it has taken steps to mitigate the impact and remains confident about its prospects.
Management expects revenue to remain resilient in 2026 and sees opportunities to expand its customer base further, with a positive outlook across its main businesses.
