December 3, 2022

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VERO Group: Nikos Veropoulos’ new investments in the Balkans and the “race” of profits | Economy news

One of the “old men” of the organizers retail food in Greece, Nikos Veropoulosdid not hide in a previous interview with new money That he considered a risk (at the time, when he did it in the ’90s) Expand its business activities in the Balkans along with Greece, former Macedonia and Serbia.

A risk that turns out to be a well-deserved opportunity…

The story is little known. In 2016, when the economy was in a “vortex” of recession, the Greek businessman made the decision to sell the Greek network supermarket From his collection in METRO (My Market) for the Panteliadis family To throw all the weight of its efforts on foreign markets. And he never regretted it.

Today, market sources reveal that Mr. VERO is preparing to apply a A series of new investments to expand its chain of stores, in both Macedonia and Serbia And there may be newer than the end of November.

The same information states that VERO Group plans within the next six months to open a Super Vero-Jumbo owned supermarket/supermarket in Serbia (in Novi Sad, the second largest city in the country) with an area of ​​10,000 square meters. With a budget of 9 million euros And 2 more stores in North Macedonia, one in Skopje and one in Kumanovo, with a total of 3 stores.

The network already has 21 stores The revenue and profit path of Nikos Firopoulos’ business allows for new ventures.

First in profit

for 2022 Ferro Group Works in both countries with 5% growth rates.

From its recently published balance sheet, for 2021, the following figures are for its sales and profitability, for each state and overall:

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  • Macedonia: he won : €73,910.053Profit before taxes: 11.478.800 €
  • Serbia: he won : 48,044,017 €Profit before taxes: 5.139.180 €
  • Collection: he won : 122,454,070 €Profit before taxes: 22,206,452 €
    (The Vero SA As a sole shareholder in Balkan companies.)

Last year’s turnover was about the same, a little lower, but it kept profitability at high levels at a very difficult time due to the pandemic and conditions in all markets.
And not only this: In 2021 The group’s chain of stores in North Macedonia It emerged first in profitability in the industry in which it operatesa sample of good strategy applied by management, but also of consumer audience acceptance.

According to the data of the BiznisMreza.mk platform, Biggest 8 Series supermarket from the country (which, meanwhile, belongs to the top 100 domestic companies based on its revenue), Cam, Ferropoulos, Stockomak, Zito, Tenx, Kitgo, Ramstor, and Kiper have made Total sales of 750 million euros and profits of 30 million euros for 2021.

As it turns out, Vero Group stores in North Macedonia They own more than a third of the total profitability of the 8 largest companies in their sector.

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