The financial figures of the Fourlis Group in the nine months of 2021 recorded a significant improvement.
In particular, the Group presented sales of 316.5 million euros compared to 279.3 million euros in the first nine months of 2020, increased by 13.3%.
Electronic sales reached 60.2 million euros compared to 39.0 million euros in the first nine months of 2020, an increase of 54.4%.
Consolidated operating profit before interest, taxes, depreciation and amortization (EPR) in the first nine months of 2021 amounted to 26.7 million euros compared to 17.3 million euros in the first nine months of 2020, increased by 53.9%.
Profit before taxes in the first nine months of 2021 amounted to 7.4 million euros compared to losses before taxes of 3.0 million euros in the first nine months of 2020. Profit after taxes was 8.0 million euros
The net debt of the FOURLIS Group on 30/09/2021 was 100.9 million, compared to 113.9 million euros on 30/09/2020 and 105.4 million euros on 31/12/2020 . Of these, 94.6 million euros relate to the Group’s commercial activities and 6.3 million euros relate to the real estate investment sector.
The retail of household equipment and furniture (IKEA), presented sales of 193.9 million euros in the first nine months of 2021, increased by 6.7% compared to the nine months of 2020 (181.7 million).
Sales in Greece remained stable, while in other countries sales increased by 18.3% compared to the first nine months of 2020.
EBITDA (OPR) amounted to 17.2 million euros compared to 15.6 million euros in the first nine months of 2020. Profit before tax amounted to 7.2 million euros
As part of the plan to open new generation IKEA stores, after Varna, Bulgaria, Piraeus and most recently the “Mall of Sofia” in Sofia, Bulgaria, another store will open its doors at “the Mall Athens” in Maroussi, Attica in December 2021. Today, there are a total of 10 IKEA stores, six of them in Greece, one in Cyprus, and three in Bulgaria. There are also 9 Pick-up-Point points for IKEA products. Six of them in Greece, two in Bulgaria and one in K.
ύπρο. Also, three new medium-sized stores of approximately 10,000 sq.m. are being designed and implemented. each for Athens and the province.
In retail sports goods (INTERSPORT & THE ATHLETE’S FOOT), sales in the first nine months of 2021 amounted to 122.7 million euros, showing an increase of 25.7% compared to the nine months of 2020 (97.7 million).
In Greece, sales increased by 18.2%, while in other countries there was an average increase of 36.0%, compared to the first nine months of 2020.
EBITDA (OPR) amounted to 10.8 million euros compared to 2.9 million euros in the first nine months of 2020. Profit before tax amounted to 1.6 million euros
The FOURLIS Group currently has 132 stores in the sportswear retail. The Intersport store network consists of 54 stores in Greece, 32 in Romania, 12 in Turkey, 10 in Bulgaria and 7 in Cyprus. Respectively, there are 14 The Athlete’s Foot stores in Greece and 3 in Turkey.
In 2022 and 2023, an upgrade program of the existing branch network will be implemented. The automated logistics center of Intersport, which is considered to be the most modern in Greece, starts operating in January. It will serve 120 stores as well as the company’s e-commerce.
Regarding the problems observed internationally in the supply chain, their impact to date is relatively limited, 3% -4% on sales, mainly due to the efficient logistics structure of IKEA internationally.
The energy cost for the operation of the Group’s stores and warehouses is affected by the large increases observed internationally, but it is a relatively small part of the Group’s operating costs (4.1% of the operating expenses for the nine months of 2021).
Preparations for the listing on the Athens Stock Exchange of Trade Estates, a subsidiary of the Group AEEAP, are progressing rapidly. With existing properties worth € 190 million and a purchase and development program of around € 250 million, Trade Estates aspires to play an important role in its field.
The Group establishes a Department of New Technologies Business Development with the aim of taking advantage of opportunities in the newly formed landscape. The department is staffed with Greeks of international experience in the field of digital technologies.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
