Public Group: Increased Sales & Profitability
- Strong profitability, with recurring operating results reaching €20 million
- Exceeded the €500 million sales target set for 2023
- Digital sales reached 30% of total revenue
- Home appliances accounted for more than 27% of total revenue
- Dynamic network expansion with 10 new “Public + home” stores
- Increasing customer satisfaction (NPS) across all services, reaching 78
Public Group continued the strong momentum of its transformation plan in 2023, maintaining its position as the No. 1 Omni-Retail destination in Greece and Cyprus. Through €10 million in investments and a dynamic ecosystem of more than 12 partnerships with innovative companies, the Group generated value across its ecosystem, achieving strong profitability in 2023. Recurring EBITDA reached €20 million, effectively quadrupling the €5 million result recorded in 2022. At the same time, the company exceeded its €500 million sales target for 2023, recording a 7% increase compared to 2022.
Following the successful implementation of the transformation of 15 stores into “Public + home” locations, and with digital sales accounting for 30% of total revenue, Public increased the contribution of home appliances to 27%, highlighting the strong consumer response to the modern home-appliance shopping model introduced just last September.
Commenting on the company’s 2023 performance, Robby Bourlas, CEO of Public Group, said:
“Despite the economic challenges stemming from the energy crisis and inflationary pressures, we remain committed to a plan designed to address both consumers’ evolving needs and the significant pressure on their disposable income, creating new flexible payment options for those who genuinely need them. At the same time, we continue to lead the way in Omni-Retail, constantly creating innovative digital experiences for our people, customers and partners.”
With more than 10 new payment and delivery options, Public is responding to emerging trends in global retail. Significantly expanding its flexible payment solutions, Public extended its “Public Now Pay Later” service with Klarna to its physical stores, while also introducing Apple Pay and Google Pay as payment options on public.gr. In addition, Public remains the only retailer in the market offering interest-free instalments without a credit card. At the same time, the company launched its new “Public+” loyalty programme, offering customers cashback through their Public Wallet, with additional attractive benefits to be introduced over time.
Through its investment arm, PCP (Public Capital Partners), Public Group invested in 2023 in BookVoice, Greece’s largest audiobook platform, as well as Sleed, a leading digital marketing company. Following these investments, PCP’s total invested capital exceeded €30 million.
For 2024, continuing its annual investment plan of more than €10 million, Public is focusing on the development of new “Public + home” stores, the rollout of iRepair services across all Public stores, and the creation of 24 Vodafone shop-in-shop locations.
