The decision of the Competition Commission on the acquisition of Kotsovolos by PPC is expected in mid-February, according to information, so that the agreement passes to the next stage of its development in the first quarter of 2024, which will significantly change the market of the electrical and electronic goods.
Sector representatives emphasized to “Naftemporiki” that the plan of the new Kotsovolos under the control of PPC is ambitious and will create new data in the field of combined services of energy and electrical and electronic goods.
There is already strong movement in the sector, with the creation of new stores and the expansion of the range of products.
In the meantime, competition rises further since consumers are pressured both by the financial difficulties caused by the prolonged inflation, and by the absence of any program to strengthen the demand for the products of the electrical and electronic goods sector.
Despite a positive 2023, January 2024 has started sluggishly and demand for the industry’s items both on physical networks and online is characterized as moderate, sources said.
Meanwhile, Kotsovolos’ turnover reached 735.4 million euros in the 2022-2023 financial year that ended in April 2023, according to the company’s balance sheet, compared to 664.4 million euros in the previous financial year.
Profits before taxes amounted to 13.5 million euros and profits after taxes to 10.4 million euros.
According to the company’s management, of the total revenue, 676.5 million euros corresponded to sales of goods, while the remaining 58 million euros were from the provision of services.
