Slide 1: Fourlis Group Corporate Presentation
Fourlis Group Corporate Presentation May 2024 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Fourlis Group (the "Company") for informational purposes only. The information contained herein does not constitute an offer, solicitation, or recommendation to buy or sell any securities of the Company or any other entity. The information in this pr
Slide 3: Fourlis Group history
Fourlis Group history The Group boasts a strong heritage of successful stories. 1950 Establishment of A. FOURLIS & Co General Dealership of GENERAL ELECTRIC household 1970-1980 appliances Since its establishment in 1950 as a local wholesale 1988 IPO in the Athens Stock Exchange 1993 Acquisition of 5
Slide 4: Pivotal strategic milestones completed last year
Pivotal strategic milestones completed last year advancing the Group’s growth trajectory ✓ Completed the sale of Intersport Turkey (ITR) and The Athlete’s Foot (TAF) ✓ Trade Estates IPO & acquisition of Smart Park ✓ Remodelling and optimizing of IKEA stores ✓ Expansion & renovation of Intersport sto
Slide 5: Fourlis Group today
Fourlis Group today A growing group of companies specializing in the omnichannel retail sector offering quality consumer goods in Southeast Europe Retail Home Furnishings Retail Sporting Goods Retail Health & Wellness Logistics Services Real Estate Investments INTERSPORT license in HOLLAND & BARRETT
Slide 6: Key Investment Highlights
Key Investment Highlights Market Opportunity Improving economy - expanding market – leveraging consumer trends Clear Focus on our strategic priorities Business model transformation - operational leverage and focus on margin expansion – unlocking value with Trade Estates IPO - Disciplined cash flow m
Slide 7: Market Opportunity: supportive economic environment
Market Opportunity A very supportive economic environment setting the base for sustained growth • Greece regained investment grade in 2023 after 13 years & credit rating upgrades • Solid GDP growth outlook (2.5% estimate for 2024) ahead of EU peers, supported by private consumption (strong tourism i
Slide 8: Market Opportunity: rebound in residential real estate
Market Opportunity Strong rebound in residential real estate, following a 10-yr period of underinvestment. • According to research*, c. € 45 bn of additional residential investment will be required until 2030 in order to maintain demand – supply equilibrium (35k housing units annually). • Pre-crisis
Slide 9: Market Opportunity: Bulgaria economy
Market Opportunity BG economy set to Growth resilience Robust rebound despite headwinds Consumption Bulgaria’s GDP growth driven by private consumption, GDP growth is expected to gradually strengthen on the Private consumption remained robust, supported by real supported by a strong labour market, i
Slide 10: Market Opportunity: consumer trends
Market Opportunity Positioned to gain from consumer trends that shape our business future Convenience & More consumers are Wellness is the Experience is The Name taking Sports & Fitness new norm Of The Game routines more seriously 10
Slide 11: Group is well-invested to capture upside through strategic plan
Group is well-invested to capture the upside potential through the execution of its strategic plan. • Improving performance in all our retail concepts, driving operating leverage and profitable growth through: o a customer-centric approach o focus on quality and top retail experience. o developing f
Slide 12: Consolidated P&L
Consolidated P&L Fourlis Group Revenue Growth, Operational Efficiency, and Strategic milestones fuel success and further future growth (amounts in € mil.) FY '22 % FY '23 Revenue 501.4 6.7% 535.1 ➢ Revenue Growth driven by the Group’s strategic initiatives, market leadership and adaptability Gross P
Slide 13: Consolidated P&L: Retail Business
Consolidated P&L Fourlis Group Retail Business The performance of the Group’s retail business indicates a solid business model set to drive profitable growth through operating (amounts in € mil.) FY '22 % FY '23 Revenues 474.2 10.0% 521.3 leverage and operational efficiencies. Gross Profit 210.2 9.7
Slide 14: Consolidated Balance Sheet for FY '23
Consolidated Balance Sheet for FY ‘23 Balance sheet (€ mil.) FY '22 FY ' 23 Property, plant & equipment 73.3 73.4 Right of Use Assets 133.9 134.2 Other Non Current Assets 53.3 60.4 Non-current assets 260.5 268.0 Inventories 91.8 89.7 Significant operating cashflow generation, resulting from the incr
Slide 15: Cash Flow Performance for 12M '23
Cash Flow Performance for 12M ‘23 Working Share Capital Capex Net Debt Capital Increase Spending Net Debt Income PBT Changes Financial 40 FY 2022 Dividends Tax FY 2023 Expenses 6.7 (17.5) (7.2) 30.9 (6.4) (3.6) (10) 14.0 11.7 51.3 (9.0) Sale of (1.3) Non Cash (84.8) (102.5) Investments (60) Charges
Slide 16: Business Units
Business Units 17 17
Slide 17: Retail Home Furnishings
Retail Home Furnishings Create a better everyday life for the many people Fourlis Group partnership with IKEA for the last 25 years. Exclusive franchise of IKEA stores in Greece, Cyprus and Bulgaria. IKEA is the world leader in home furnishings and accessories. It Operating 21 IKEA stores of differe
Slide 18: Strategic Priorities - Business model
Strategic Priorities - Business model Optimization of operations aiming at addressing new consumer trends and top customer experience Network remodeling Network expansion Focus on top customer experience Focus on Increased productivity and efficiencies Digitalization and omnichannel capabilities 19
Slide 19: Home Furnishings Retail FY 2023 results
Home Furnishings Retail FY 2023 results Home Furnishings Retail business (IKEA stores) ➢ Home Furnishings retail revenue growth of 11.6% is attributed not only to IKEA stores market leadership but also to improved stock availability, increased visitorship, and a strategic positioning that capitalize
Slide 20: Retail Sporting Goods
Retail Sporting Goods Enabling people reach their goals, through sports. Fourlis Group partnership with INTERSPORT since 2000. FOURLIS Group is the exclusive licensee of INTERSPORT trademark in Greece, Cyprus, Bulgaria and Romania. INTERSPORT, is the number one retail sporting goods chain worldwide,
Slide 21: Strategic Priorities - Business model
Strategic Priorities - Business model Network transformation Network expansion Maintaining top omnichannel customer experience Operational optimization & Efficiencies Automated logistics center supporting physical stores and ecommerce Strategic partnerships 22
Slide 22: Sports Retail FY 2023 results
Sports Retail FY 2023 results ➢ Sports retail (Intersport stores) revenue, excluding the revenue from “The Athlete’s Foot” (TAF) and “Intersport Sports Retail (Intersport stores) Turkey” (ITR) that were sold, was up by 6.3% during FY ’23 compared to last year, despite tough competitive dynamics. (am
Slide 23: Retail Health & Wellness
Retail Health & Wellness Holland & Barrett is one of the largest Fourlis Group has entered in January 2022 into the fast-growing sector of health and wellness through strategic partnership, with the company wellness retailers in UK and Europe. Holland & Barrett. 150 years of history Exclusive franch
Slide 24: Real Estate Investments
Real Estate Investments Trade Estates REIC was established in July 2021, began operating in the field of real estate investment with a portfolio of real estate assets worth €185 mil. It is one of the largest real estate investment companies in Greece (in NAV terms). Its portfolio comprises 13 Income
Slide 25: Sustainability is at the heart of our operation
Sustainability is at the heart of our operation Since 2008 we have been an official member of UN GLOBAL COMPACT - committed to adopt, support and promote its ten principles on Human Rights, Labor Conditions, Environmental Protection and the fight against Corruption. Recognizing that our operation ha
Slide 26: Thank you
Thank you 27
Slide 27: Appendix
Appendix Reconciliation tables between Fourlis Group figures and Fourlis Group retail business figures 28 Patras mock design
Slide 28: Consolidated Group P&L breakdown
Fourlis Group Retail Business Consolidated Group P&L breakdown (amounts in € mil.) FY '22 % FY '23 Revenues 474.2 10.0% 521.3 Fourlis Group Gross Profit 210.2 9.7% 230.7 Gross Profit margin 44.3% 44.3% EBITDA (OPR)* 28.6 25.8% 35.9 EBITDA (OPR) margin 6.0% 6.9% (amounts in € mil.) FY '22 % FY '23 EB
Slide 29: Reconciliation between Consolidated Group Figures with Retail Business Figures
Reconciliation between Consolidated Group Figures with Retail Business Figures for FY ’22 and FY ’23 FY ‘22 Retail Business Sold Trade Estates (amounts in € mil.) Retail Business (ITR/TAF) (external) Total Revenues 474.2 20.5 6.7 501.4 Gross Profit 210.2 8.9 6.7 225.8 EBITDA (OPR)* 28.6 0.8 10.3 39.
Slide 30: Analysis of Net financial Income/(Expenses)
Analysis of Net financial Income/(Expenses) for the Group and the Group’s Retail Business Total Group 2022 2023 Interest -7.3 -14.1 Bank expenses & other -2.4 -1.6 IFRS16 interest -6.4 -6.4 Total -16.1 -22.1 Total Retail Business 2022 2023 Interest -4.3 -7.8 Bank expenses & other -1.8 -1.3 IFRS16 in
Slide 31: Retail Home Furnishings FY 2023 results breakdown
Retail Home Furnishings FY 2023 results breakdown Home Furnishings Retail Business (IKEA stores) RHF Segment (amounts in € mil.) FY '22 % FY '23 (amounts in € mil.) FY '22 % FY '23 Revenue 317.6 12.9% 358.4 Revenues 310.1 11.6% 346.0 Gross Profit 131.9 14.2% 150.7 Gross Profit 139.4 17.0% 163.2 Gros
Slide 32: Retail Sporting Goods FY 2023 results breakdown
Retail Sporting Goods FY 2023 results breakdown Sports Retail (Intersport stores) RSG Segment (amounts in € mil.) FY '22 % FY '23 Revenue 163.7 6.3% 174.0 Gross Profit 77.9 1.4% 79.1 (amounts in € mil.) FY '22 % FY '23 Gross Profit margin 47.6% 45.4% Revenue 184.3 -4.3% 176.3 EBITDA (OPR)* 11.6 -4.2