Investments of 280 million euros are launched for the four years 2023-2026 by METRO SA, which will be aimed at strengthening the network with new stores, in digital transformation, in Renewable Energy Sources and distribution centers.

According to what the president and managing director, Aristotelis Panteliadis, said yesterday in the context of an information event, the investments for 2024 amount to 64 million euros, the turnover will move to 1.65 billion euros (from 1.59 billion euros in 2023) while a further improvement of EBITDA profitability is expected, which in 2023 amounted to 77.5 million euros, and of profits before taxes, which reached 31 million euros.

In 2023 in a more general condition of pressure on profit margins throughout the sector, METRO achieved satisfactory profitability compared to 2022, which, according to him, stems from its strategic planning and investment moves in the development of the network, in energy saving and the utilization of technology. Focusing on the industry’s challenges, Mr. Panteliadis said that the inflationary increase in prices and turnover is not healthy. “We want a consumer who can afford to shop. For us, it is a wish that the prices will decrease”, he stressed. He noted that general and food inflation is decelerating. “We have had negative inflation in our chain for two months now. Inflation is decelerating and prices have stopped rising, but that doesn’t mean they’ve fallen. We hope prices will come down, but I’m not optimistic that this will happen on a large scale,” he said. Focusing on the emergency measures against punctuality, he spoke of a year of strong interventionism noting “some of these measures are harmful and hinder competition”.

According to the data presented at the event, in 2023 Mymarket sales increased, affected by inflationary pressures with a small decrease in volume, following the image of the supermarket sector.

In the wholesale sector, METRO Cash & Carry saw an increase in sales due to the rise in tourism, increased penetration of the chain in the Ho.Re.Ca sector and inflation.

Regarding Mymarket and Mymarket Local, the chain invests in its organic growth and for 2024 has designed and is implementing a dynamic renovation plan in 9 stores in Attica and the region, while at the same time it has concluded agreements and acquired a large number of plots and properties where new stores will be created. The chain currently has 249 stores, of which 22 are Mymarket Local. Mymarket Local is steadily gaining the interest of new investors and showing satisfactory growth. Recently, new Mymarket Locals opened in Thessaloniki and in total in 2024 it is estimated that 25 new stores will open. eshop.mymarket.gr shows a 62% increase in user visits. The omnichannel experience, for the customer, is ensured by the availability of the complete codebook, including weighed products, the cooperation with online platforms, its own quick delivery called “Speedy” and now has an innovative service of subscription packages to its customers called “Saver Pass”.

2023 was another good year for METRO Cash&Carry, which has always been the leading chain in organized wholesale, with a share approaching 50%. The chain maximized its penetration into the Ho.Re.Ca business and maintained its good performance in the resale business. In METRO Cash&Carry’s development plan, this year a new store in Drama and a darkstore in Patras have been foreseen, while the chain’s investment in Ho.Re.Ca businesses is estimated to have a further positive effect on its financial results. The online store eshop.metrocashandcarry.gr, after its dynamic start, is consolidating and constantly gaining public acceptance, as it has already reached 200,000 users.

The supply chain was significantly strengthened with the renovation and expansion of the Northern Greece Distribution Center and the company is now focusing its attention on the new Distribution Center it is going to build in Aspropyrgos. At the same time, a fulfillment center of 10,500 sq.m. will support METRO Cash&Carry’s distribution services, ensuring even greater flexibility and better service to the chain’s professional customers.

METRO’s investment in Cyprus has matured and is yielding positive results. Sales increased by 18% compared to 2022 as more and more professionals learn and utilize the Cash and Carry model that METRO introduced in the country. Following the initial design, the process has already started for the construction of the second BESTVALUE FOR PROFESSIONALS store in the city of Nicosia, measuring 3,000 sq.m.

Aiming at the energy neutrality of the facilities and the reduction of the carbon footprint, the industry’s largest photovoltaic plant installation program is underway. The company’s investments in the utilization of Renewable Energy Sources continue unabated and a photovoltaic park is already under construction in Spatholaka, Achaia, with a capacity of 5.2MW. At the same time, a power supply contract (PPA) has been concluded with a wind farm in Distomo, Viotia, with a capacity of 13.2MW. This is one of the first such contracts in Greece and has a ten-year duration.

Digital transformation is also a priority, as investments in digital tools aimed at increasing productivity and better customer service are gradually paying off, while the use of technology and AI is expected to increase in the coming years.