Amid rising costs, geopolitical uncertainty, and upheavals in the organized retail sector, the head of METRO and former president of the supermarket association, Aristotelis Panteliadis, set the bar for the group’s performance, leaving open the possibility of selective moves and criticizing the lack of dialogue with the Ministry of Development.
Responding to a related question from Euro2day.gr, Mr. Panteliadis appeared particularly skeptical regarding the effectiveness of government interventions in the face of international crises, such as the cap on gross profit margins, arguing that domestic policies cannot counteract external inflationary pressures. “No measure can influence causes that are external. Therefore, no measure within Greece can effectively address this situation.”
Regarding the sector’s relationship with the political leadership of the Ministry of Development, he said: “We have cut off contact with the minister; he doesn’t want us.”
“In the industry, we often compete fiercely on a ‘your death, my life’ basis. Nevertheless, we managed to coordinate our positions when necessary,” he noted.
Responding to a question from Euro2day.gr about price hikes, he said: “At this moment, we have not yet begun receiving price increase lists due to the war. All suppliers are facing increased costs, but they are adopting a wait-and-see approach because they do not want to act hastily, ” he said.
He was quick to note, however: “If the war or its effects last longer, then I fear we will see some price hikes. Not extreme, nor at levels comparable to those we saw in the previous wave of inflation, but there will certainly be an impact.”
According to him, the inflationary pressures already being recorded in the market may persist for some time. “What we’ve been seeing lately may continue for a few months, hovering around 3%.”
The head of METRO also referred to the performance of the organized wholesale sector and, in particular, the HORECA channel, where results fell short of expectations despite the strong tourist season. As he explained, the presence of visitors did not automatically translate into higher spending in the food service sector. “Cash & carry sales to the HORECA sector did not go as we expected. There were tourists, but they did not spend as we had anticipated in cafes, restaurants, and on entertainment in general,” he noted.
In fact, he appeared cautious about the future as well. “I’m not optimistic that this behavior will change anytime soon. Greek consumers have changed their habits; they don’t go out as often during the week, and this is putting overall pressure on the food service market.”
Commenting on the broader market realignments and specifically theMasoutis–Kritikos deal, Mr. Panteliadis said: “At the scale we’re operating at, such moves don’t dramatically alter bargaining power. It is a natural step in market consolidation.” In his assessment, the Greek market remains less concentrated compared to other European markets, leaving open the possibility of new deals in the future.
Although he clarified that acquisitions are not an integral part of METRO’s strategic planning, he did not rule out opportunistic moves.“Acquisitions are not part of our numbers or our core planning. That doesn’t mean we aren’t interested if the right opportunities arise,” he said.
As for franchise and partner stores that may be affected by the Kretikos–Masoutis agreement, METRO is keeping an eye on the situation. “We don’t yet know which stores might change direction. If any are of interest, we’ll look into it. We don’t want to move aggressively, but we are open to it .” In recent days, four ANEDIK Kritikos franchise stores in Paros and Naxos have joined METRO.
Mr. Panteliadis emphasized that METRO has consistently maintained a conservative yet steady investment philosophy. “Because we are Greek, we are often swayed by impulse in business decisions. We strive to ensure that every decision has a clear financial basis.” As he noted, the company avoids flashy moves and opts for steady growth with a long-term outlook.
Last year, sales reached €1.67 billion, and this year’s target is €1.77 billion, while investment over the next few years will range between €250 million and €280 million.