- Sales euro 512,12 mio, 6.3% down y-o-y (9MFY08: euro 546,39 mio).
- EBITDA euro 47,64 mio vs euro 63,93 mio in 9MFY08.
- PBT euro 32,68 mio vs euro 46,90 mio in 9MFY08.
- NP euro 23,05 mio vs euro 33,98 mio in 9MFY08.
- EPS euro 0,45 (9MFY08: euro 0,67).
Y-o-y EBITDA reduction is mainly attributed to last year non recurring item (euro 12,2 mio) from the sale of DSGI SOUTH-EAST EUROPE A.E.Β.Ε. (P. KOTSOVOLOS A.E.B.E.) and the financial results of the Romanian wholesale activity.
In 2009, through its three business divisions, the Group managed to increase its market share profitably and most importantly, without taking additional risk, operating in a very challenging environment. During the third quarter of 2009, Fourlis Group realised an improving trend in sales, compared to the previous two quarters of the year, in all three divisions. More specifically:
Retail Home Furnishings division (IKEA) during the nine months of 2009, realized a marginal 1,4% y-o-y decline in sales to euro 229,95 million and an increase by 16,5% in Profit Before Taxes to euro 27,01 million (9MFY08 euro 23,19 million). The financial results of this division include euro 3,4 million pre-opening expenses related mainly to the future openings of the new IKEA stores in Greece and Bulgaria, as well as an one-off capital gain of euro 1,7 million related to the sale of real estate property, realized in Q2FY09 (9MFY08 pre-opening expenses together with port strike effect: euro 7,6 mio).
Retail Sporting Goods division (INTERSPORT), realized sales of euro 57,77 million (11,4% up y-o-y) and euro 3,38 million Profit Before Taxes (9MFY08 euro 4,76 million). Local currency devaluation in Romania (RON vs EUR) especially in the first quarter of the year, and the sales performance of the new stores before maturity, most of which opened in Romania, affected profits. Today there are 48 Intersport stores compared to 40 stores the same period last year.
Finally the wholesale of electrical and electronics division, realized 14,1% y-o-y decline in sales to euro 224,39 million and euro 2,27 million Profit before Taxes compared to euro 7,39 mio Profit before Tax for the same period in 2008. The reduction in Sales and Profits is attributed to the activity in Romania, even though third quarter trends seem stable and slightly improved.