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Public : Significant increase of profitability and higher market shares in year 2016

April 4, 2017
  • Increase by 5.3% in consolidated turnover to € 234.3 million in 2016 from € 222.5 million in 2015
  • Stronger earnings before interest, taxes, depreciation and amortization (EBITDA), at € 3.049 million, versus € 146,283 thousand in fiscal year 2015
  • 3 new stores in Greece & Cyprus and new concept stores
  • 25 million visitors in Public Stores during the year 2016
  • 40 million visitors in the e-shop of the company

The network of Public Stores (Retailworld S.A.), member of Olympia Group established by Panos Germanos, recorded a significant increase in its financial results and market shares, as it entered its second year of operating profitability. Public posted an increase of 5.3% in the consolidated turnover which amounted to € 234.3 million in 2016 from € 222.5 million in 2015. It is worth noting that the sales of the company within a two-year period have demonstrated a record increase by €53 million in terms of turnover.

The company also demonstrated especially positive results on the level of operating profitability (EBITDA), thus significantly improving the performance of 2015. Specifically the earnings before interest, taxes, depreciation and amortization (EBITDA) of the year 2016 exceeded the level of €3 million versus € 146 thousand in fiscal year 2015.

1The stronger and improved financial performance of the network of stores which was achieved amid the continuing economic crisis in our country was based on a consistent commercial strategy. During the year 2016 Public Stores increased their market shares in all strategic product categories, such as cell phones, laptops, books, gaming and toys, whereas even more customers selected the stores in order to make their seasonal purchases such as for example in the category “Back to School”.

During the year 2016, equally important developments comprised the expansion of the network of stores via the operation of 3 new stores, 2 in Greece (Mytilini and Rethymno) and 1 in Cyprus (Larnaca) with the total number of stores settling at 51 in 2016 and with the total number of visitors reaching 25 million. Furthermore, among the commercially successful initiatives taken by the Public Stores during the past year was the presentation of “Black Friday” to the Greek consumers, thus bringing an especially successful event in our country.

2Commenting on the financial results of Public Stores (Retailworld S.A.), the Chief Executive Officer of the Company, Mr. Christos Kalogerakis, stated the following: “During an especially difficult year for the retail market, Public Stores managed to increase their market shares in strategic product categories with strong profitability, to reduce their costs and to emphasize on the power of the brand by undertaking targeted initiatives. Our goal in 2017 is to continue our positive business performance, by applying our central strategy which is differentiation for the benefit, always, of customer. The principle of differentiation applied in our strategy consists of the new concept stores in Kolonaki and at the Athens Airport – Eleftherios Venizelos”.

The 2 online shops of the company in Greece and Cyprus demonstrated a very high performance as their visitors exceeded 40 million and the shops carried out more than 900,000 orders with on-time delivery in Greece and Cyprus reaching a rate of 96%. At the same time, 98% of the customers expressed their satisfaction for the services rendered.

The commercial diversification constituted the major axis of the strategy of Public Stores in 2016 based on the enrichment of their product range with many exclusivities and pioneering actions, the strong emphasis on the market of seasonal products as well as the improvement and strengthening of the merchandising within the stores. The events organized by Public, such as the Book Awards and the Photography Event “Public Moments” were indicative of the actions undertaken, whereas in all Public Stores the number of free events that were organized reached 1,000.

Moreover on support level, the company’s call center replied to 600,000 queries made by customers, while the service department of Public which is supported by 150 specialized technicians implemented more than 200,000 repairs of appliances.

A very important program was the Internal Action “WE TAKE OFF FOR OUR PEOPLE”, an investment which exceeded the amount of € 300,000 and concerned activities for the personnel all over Greece. At the same time the training and development program “Public School of Retail” covered more than 18,500 hours of personnel training and education.

Finally, it is important to note that the company’s successful presence in the retail market during the year 2016 was recognized via the award “Retailer of Year”, whereas the company received 14 additional distinctions in the areas of services, Human Resources and Corporate Responsibility, thus reassuring the constant efforts it has made towards improvement.