Fourlis Group realized sales of 439,8 million euros in 2021 over 370,6 in 2020, a rise of 18.7%, the company said. E-commerce sales for FY2021 reached 77,8 million compared to 60,1 million euros in FY2020, a rise of 29.4%, it added. EBITDA (OPR) was 38,1 million euros in FY2021 compared to 20,4 million euros in FY2020, and consolidated profit before taxes rose by 23,1 million euros at 12,1 million in FY2021 compared to 11,0 million in losses before taxes.
The Group, which runs IKEA, Intersport and The Athlete’s Foot, realized net profit of 11,5 million euros in FY2021 and proposed a shareholder dividend of 0.11 euros per share, subject to the approval of the Ordinary General Assembly of 2022.
Its net debt as of 31/12/2021 was 135,8 million euros, compared to 105,4 million euros as of 31/12/2020. A total of 104,6 million in net debt is related to the operating activities of the Group, while 31,2 million of the net debt is related to the real estate activity.
Fourlis Group currently operates a network of 132 stores of Intersport and The Athlete’s Foot (TAF). Today the store network consists of 54 Intersport stores in Greece, 32 in Romania, 12 in Turkey, 10 in Bulgaria and 7 in Cyprus. Respectively, there are 14 TAF stores in Greece and 3 in Turkey.
The implementation of the upgrading program of the current network is in progress. The new fully automated logistic center of Intersport started its operations, which is considered the most contemporary logistics center in Greece. It will serve 120 stores and the e-commerce of the company as well.
International supply chain problems have a manageable impact on the Group. The energy cost for the operation of the store network and the warehouses of the Group, is affected by the severe cost increases, realized globally. However, it is a relatively small part of the operating cost of the Group (4.7% of the FY2021 operating expenses).
Preparations for the initial public offering (IPO) of the Trade Estates REIC, subsidiary of the Group, are under way. Trade Estates has a 270 million euros current gross asset value and a pipeline of acquisitions and development approximately worth 250 million euros, Fourlis said.