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Recurring EBITDA of €20 million in 2023 - Over €500 million sales | TheGreekDeal.com
PUBLIC GROUP
Recurring EBITDA of €20 million in 2023 - Over €500 million sales
Public Group remained the top omni-retail destination in Greece and Cyprus in 2023, continuing the implementation of its transformation plan.
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Robby Bourlas, CEO Public Group

Public Group remained the No. 1 omni-retail destination in Greece and Cyprus in 2023. Through investments of €10 million and a dynamic ecosystem with over 12 partnerships with innovative companies, it brought multiple benefits to all, achieving high profitability in 2023, with recurring EBITDA reaching €20 million, effectively quadrupling the 2022 result of €5 million. The company also managed to exceed the €500 million sales target set for 2023, with a 7% increase compared to 2022. 

Public saw an increase in the share of home appliances to 27% after successfully implementing the model of converting 15 stores into "Public + Home" and with digital sales reaching 30% of total sales. This indicates the confidence that consumers have shown in the contemporary home appliance shopping model that was only introduced last September.

On 2023 performance, Robby Burlas, CEO of Public Group, said: "Despite the challenges to the economy from the energy crisis and inflationary pressures, we remain committed to a plan that responds to both modern consumer needs and the significant constraint on their disposable income by creating new flexible ways of paying for those in real need. At the same time, we continue to lead the way at Omni-Retail as we continually create innovative digital experiences for our people, customers and partners."

With more than 10 new payment and delivery options, Public is responding to new trends in global retail. Significantly enhancing flexible payment methods, Public went on to expand the "Public Now, Pay Later" service with Klarna to physical stores and added the ability to pay via Apple Pay and Google Pay to public.gr. In addition, Public is the only retailer in the market that offers the possibility of interest-free installments without a credit card. At the same time, they launched a new loyalty program, "Public +", which will include cash back in customers' Public Wallet and long-term rewards with attractive perks.

As for the investment arm, PCP (Public Capital Partners), in 2023 it invested in the largest audiobook platform in Greece, BookVoice, and the leader in digital marketing, Sleed. With these investments, PCP's total invested capital exceeded €30 million.

For 2024, continuing an annual investment plan of more than €10 million, Public aims to create new "Public + home" stores, install iRepair inside all Public stores, and create 24 shop-in-shops with Vodafone.

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