Fourlis Group, during the financial year of 2010, realized sales in its Continuing Operations € 435,0 million, 3,2% lower than the same period last year (€ 449,5 million). Total Group Sales, for the period were € 638,1 million, including the discontinued operations.
FY10 EBITDA was € 47,3 million (€ 72,9 million in FY09). Pre-opening expenses of new IKEA stores were € 5,3 million (€ 5,5 million in 2009).
Consolidated Profit Before Taxes was € 28,2 million compared to € 53,3 million in the same period last year.
As a result, Net Profit, was € 20,5 million compared to € 37,5 million in 2009, while after the extraordinary tax payment of 5,4 million related to 2009 profits, the Net Profit for the period was € 15,1 million. EPS were € 0,30 (FY09: € 0,62).
Retail Home Furnishings division (IKEA) with € 319,4 million sales and 4,7% lower than last year, gained market share in a sharply declining market. Profit Before Taxes was at € 24,5 million (FY09 € 42,5 million). 5 IKEA stores operate today in Greece and one in Cyprus, while construction works at the Sofia Store in Bulgaria continue and the target for opening is the second half of 2011.
Retail Sporting Goods division (INTERSPORT), realized increased year on year sales by 0,9% to € 81,0 million. Sporting goods in Greece and Cyprus realized profit before taxes € 3,8 million while the activity in Romania and Bulgaria realized losses before taxes € 2,4 million. Recently, the Group announced the acquisition of the Intersport retail store network in Turkey. As a result, Fourlis Group has 75 Intersport stores in the region (Greece (33), Turkey (20), Romania (16), Bulgaria (4) and Cyprus (2)) compared to 48 stores at the end of 2009.
Finally the wholesale of electrical and electronics division, following the discontinuation in June 2010 of the Samsung mobile phones in Greece and wholesale of electrical appliances in Romania operations, realized sales of € 237,8 million and € 2,9 million Profit before Taxes.