An ambitious investment plan of 30 million euros is being implemented by Public Group over the next three years. The plan includes strengthening the Public + home store network in Greece and Cyprus, with the presentation of its entire range of products, giving even greater prominence to the household appliances category, including same-day delivery, installation and demonstration of products for the home expanding its services with a focus on flexible payment methods.
The objective is to increase the share held by the company as a whole in the market, which so far is 20%, but also to strengthen the consumer experience index. In the long term, Public in Elliniko is expected to have a prominent position in the chain’s network, which is estimated to be ready in 2026, will have 3 floors and is estimated to be one of the most impressive stores in the Public group. The goal is for the chain to have 70 stores out of the 59 it currently has. For 2024, continuing with an annual investment plan of more than 10 million euros, Público intends to create new stores”Public + residential”the installation of iRepair within the entire Public, but also in the creation 24 in-store purchases with Vodafone.
According to Robby Burla, CEO of Public Group, 2023 was a profitable but difficult year, marked by the challenging merger of two brands, Public and Media Markt. In summary, the company recorded high profitability with recurring operating results reaching 20 million euros, quadrupling essentially the result of 2022 which was 5 million euros, exceeded 500 million euros in sales which had as a target for 2023 an increase of 7% in relation to 2022, the digital sales they reached her 30% of the total turnover, the category of Home appliances leave it behind 27% of total turnover, there was an increase of customer satisfaction score (NPS) for all services and there was a dynamic development of the network with 10 new “Público + casa” stores.
For 2024, the company expects positive free cash flow and maintenance of first place in traffic, as well as broad acceptance of the Public +home brand as a consumer brand. At the same time, the company is developing the promising market for used devices, with emphasis on electronics, which is also an international trend, especially among young consumers.
Specifically in the services sector, according to the company’s management, Público has more than 10 new options in the area of payments and deliveries. By also significantly strengthening flexible payment methods, they continued to expand the service”Public now pay later” with Klarna and in physical stores, in addition to adding the payment option via Apple Pay It is Google Pay at public.gr. Furthermore, they allow interest-free installments without credit card. At the same time, they launched the new loyalty program,Public +”which will include a refund for Public Card of customers and long-term reward with attractive benefits. As for the investment arm of the PCP (Public Equity Partners), in 2023 invested in the largest audiobook platform in Greece, BookVoicebut also the leading company in Digital Marketing Sled. With these investments, the PCP’s total invested funds exceeded 30 million euros.