With an increased corporate turnover of 16.5% compared to 2022 and investments of over 25 million euros in the Greek economy, D. Masoutis continues its strong footprint in 2023, according to the publication of its results.

As noted in a related announcement, “particular emphasis was placed on the effort to contain price increases and maintain prices for the benefit of consumers. It is estimated that more than 20 million euros were invested in this direction. This effort is part of the Organization’s administration’s commitment to healthy and sustainable development, as the head of the Group, Mr. Yannis Masoutis, has often supported in his public interventions. This resulted in the organization’s profitability remaining stable, despite the company’s turnover increasing by 16.5% compared to 2022.

This price reduction strategy seems to bear fruit in 2024 as well, where D. Masoutis is constantly gaining shares and achieves twice the growth compared to the competition (in the available data up to July 2024). In fact, negative inflation was observed in all three months of this summer, with prices decreasing on average compared to the summer of 2023.”

More specifically, in 2023 there was an increase in sales at the company level by 16.5% (from 923 million euros to 1.076 billion euros) and at the Group level by 14.5% (from 940 million euros to 1.076 billion euros).

The company’s pre-tax profits showed stability (from 8.303 million euros in 2022 to 8.503 million euros in 2023). It is noted that the profits are below 1% of the turnover. “The company has chosen to “sacrifice” most of its profitability to support Greek consumers in a difficult period, thus effectively contributing to the effort being made. A move that differentiated it from the competition based on recently announced financial results. In the context of healthy and sustainable development, the effort made by the company’s management to contain price increases is also important,” the same announcement emphasizes.

In this direction, it is estimated that more than 20 million euros were invested, which had a direct impact on the reduction of gross profits by one percentage point from 25.63% of turnover in 2022 to 24.66% in 2023.

According to the financial statements, more than 25 million euros were invested in 2023, with the largest part concerning fixed assets, energy upgrades and store renovations. The company’s investment program in 2024 is estimated to move at the same pace.