The future facilities are expected to cater to the rapid rise of e-commerce which is further pushing the courier market which is estimated to move between 10% and 15% annually in the next period.
In fact, the company's management did not hide that the competition is intense and that it has been considering the possibility of acquisitions and mergers in recent years, but not having anything concrete at this stage. "This investment is estimated to attract other companies in the sector to similar investments in order to become competitive" the management points out, raising the bar in the courier industry.
The company owns 25% of the courier market, which is estimated in our country at €500 million, but the share for domestic shipments reaches 35% as they make up 2/3 of the market. In 2022, the revenues of ACS reached €141.8 million and as Mr. Georgatzis pointed out, no increases are expected this year, which, however, will come from the new year and at a lower "intensity" than the last time. As he said, there is great uncertainty due to inflationary pressures, but also geopolitical developments while costs have shot up to 60%.
According to the management of the company, for the next 5 years, an investment plan of €50 million will "run" which will include the strengthening of the last mile, the installation of new Lockers (200 immediately and a target of over 1,000 in the five years by investing €15 million) as well as the increase of its "green" fleet of vehicles reaching 200.
Kotsovolos is in the crosshairs
The Founder and President of the Quest group, Theodoros Fessas, commented to the journalists the process in which the group participates in the acquisition of the electronics chain Kotsovolos, from the parent company Currys, saying that the acquisition is beneficial only under specific conditions and conditions and that until the the process will be completed by the end of the year. It is recalled that an offer has been submitted by the PPC group as well as the Marinaki group. Mr. Fessas, however, emphasized that he is not willing to reach "higher" levels of the offer, stressing that he is already offering a satisfactory amount.
