Fourlis Group records profits in first half of 2021

IKEA Fourlis Group

Fourlis Group announced on Tuesday that it realized sales of 185.7 million euros during the first half of 2021, 16.5% up from the same time in 2020 with 159.5 million.

In an announcement, Fourlis Group said that e-commerce sales for the Group in H1FY21 reached 43.5 million euros compared to 27.8 million in H1FY20, increased by 57%.

EBITDA (OPR), not including financial expense related to IFRS16 impact, was 13.3 million euros compared to 5.3 million in H1FY20, increased by 155%.

In addition, H1FY21 consolidated profit before taxes was 0,9 million euros compared to losses before taxes of 8.3 million in H1FY20.

The Group realised net profit of 0.6 million euros in H1FY21, while Fourlis Group net debt as of June 30, 2021 was 95.9 million euros, compared to 102,8 million as of 30/06/2020 and 105.4 million as of December 31, 2020.

Retail Home Furnishing and Accessories activity (IKEA) realized sales 111.4 million euros in H1FY21, 5.1% higher than in H1FY20 (106,0 million). H1FY21 sales in Greece decreased by 6.5%, while in the other countries sales increased by 24.6% compared to H1FY20.

EBITDA(OPR) in H1FY21 was 6.9 million euros compared to 6,5 million in H1FY20.

Profit before taxes in H1FY21 was 0.3 million.

The company will follow up its successful “new generation” IKEA stores in Varna (Bulgaria) and Piraeus recently with one more such store in the Sofia Mall, Sofia (Bulgaria) on September 8.

In total, six IKEA stores operate in Greece, one in Cyprus and two in Bulgaria, along with nine pick-up points (six in Greece, two in Bulgaria, one in Cyprus).

Retail Sporting Goods activity (Intersport & The Athlete’s Foot), realized sales of 74.2 million euros in H1FY21, 38.6% higher compared to H1FY20 (53.6 mln).

H1FY21 sales in Greece increased by 20.6%, while in the other countries, sales increased by an average of 67.4% compared to H1FY20.

H1FY21 EBITDA(OPR) was 7.5 million euros compared to -0,3 million in H1FY20.

H1FY21 profit before taxes was 1.6 million euros.

Fourlis Group currently operates a network of 132 stores of Intersport and The Athlete’s Foot.

Today the store network consists of 54 Intersport stores in Greece, 33 in Romania, 13 in Turkey, nine in Bulgaria and six in Cyprus. Respectively, there are 14 of The Athlete’s Foot stores in Greece and three in Turkey.

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