Fourlis Holdings S.a. · ATHEX:FOYRK
Fourlis — Q1 2025 Earnings Presentation
45 slides from Fourlis's earnings presentation, May 2025
Slide 1: Corporate Presentation May 2025
Fourlis Corporate Presentation May 2025
Slide 2: Disclaimer
Fourlis > 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
Slide 3: Our history
1950, 1970-1980 1988 1993 1999 2001 2004 2006 2007 2010 2011 2014 2020 2021 2022 2023 2024 2025 Establishment of A. FOURLIS & Co Representation of GENERAL ELECTRIC household appliances IPO in the Athens Stock Exchange Acquisition of 51% of P. KOTSOVOLOS S.A. IKEA & INTERSPORT franchise rights First
Slide 4: Disciplined execution and growth momentum in all BUs
Fourlis Disciplined execution and growth momentum in all BUs IKEA » New stores: Patras (Oct '24), Heraklion (April 2025), Hellinikon (2028) Remodeling of the store in the AIA park. A new Plan & Order studio opened in Bulgaria. New-generation urban IKEA stores. vVvvv ee store ,Patras Sportwear > Foot
Slide 5: Private placement of 16% of Trade Estates' share capital
Private placement of 16% of Trade Estates’ share capital in February 04 2025. Fourlis group participation in Trade Estates at 47.3%. Gain of €6.4 mil. for the group. €29 mil. proceeds from the placement, reducing the group’s net debt. Deleveraging the group’s Balance Sheet and strengthening our focu
Slide 6: Fourlis group today
Fourli . ewes Fourlis group today Participation in Home Furnishings Sportswear Health & Wellness Logistics Real Estate The home Sports retail The wellness The logistics real furnishings leader powerhouse destination specialist ail INTERSPORT van fo reper TRADE LOGISTI = / Foot Locker TradeEstates
Slide 7: Fourlis group today
Fourlis Home Furnishings Presence in GR, BG and CY through 22 stores & shops Leading position in the HF market One of the best performing partners of Interlkea Growing organically and through network expansion. The home furnishings leader Presence in GR, RO, BG and CY through 120 stores No 1 Sports
Slide 8: Strategic Priorities
Strategic Priorities v Delivering high product quality and exceptional customer service across all channels. Fostering a culture of employee well-being, engagement, and continuous development. Transforming the business model for efficiency. Accelerating omnichannel growth and e-commerce capabilities
Slide 9: Q1 '25 Financial Results
Q1 ‘25 Financial Results
Slide 10: Consolidated P&L Q1 '25
(amounts in € mil.) Q1'24 % Q1'25 Revenues 116.2 17% 118.2 Gross Profit 517 6.8% 55.2 Gross Profit margin 44.5% 46.7% EBIT 3.0 16.8% 25 EBIT margin -2.6% 2.1% Net Financial Income/(expenses) -5.0 44% 5.3 Contribution from associates (SSRM) 07 08 Contribution from associates (TE) - 14 PBT 73 24.7% 55
Slide 11: Deleveraged balance sheet and financial flexibility
Deleveraged balance sheet and financial flexibility 100 Net debt 84.8 2023 met Debt 85.6 2024 Net debt Q1 ‘25 Q1'24 Q1'25 4.0 35 3.0 25 2.0 15 1.0 05 0.0 Retail Net Debt / EBITDA (OPR) Fourlis Investing in expansion Capex of € 6 mil. Maintenance: €2.2 mil. Expansion: €3.8 mil. IKEA & Intersport & Fo
Slide 12: Business Activities
Business Activities
Slide 13: Home Furnishings
Fourlis Home Furnishings
Slide 14: New IKEA store at Heraklion, Crete
New IKEA store at Heraklion, Crete
Slide 15: Network expansion
Network expansion Reinforcing our presence near city-centers in the province Focus on omnichannel approach Leverage digitalization
Slide 16: Home Furnishings (IKEA stores) Q1'25
(amounts in € mil.) Q1'24 % Q1'25 Revenues 78.2 -0.6% 777 Gross Profit 35.2 3.5% 36.4 Gross Profit margin 45.1% 46.9% EBIT 1.8 5.4% 1.9 EBIT margin 2.3% 2.5% EBITDA (adjusted)* 21 -0.2% 21 EBITDA (adjusted) margin 2.7% 2.7% “See Appendix for further details Fourlis Home Furnishings (IKEA stores) Q1'
Slide 17: Home Furnishings: IKEA partnership
Fourlis Home Furnishings Gen) 25 yrs of partnership Create a better everyday life for the 3 counties: Greece, Cyprus and Bulgaria. many people 2 2 IKEA stores of different formats. Ecommerce in all 3 countries. @e IKEA is the world leader in 4 home furnishings and oe ° accessories. It was founded in
Slide 18: Sportswear
Fourlis Sportswear
Slide 19: Fourlis Creating a Sports Retail Powerhouse
Fourlis Creating a Sports Retail Powerhouse » Entering into the fast-growing _ lifestyle & fashion segment of the jae _— ———_ _ sportswear market and expanding - _— geographically through the * = = Partnership with Foot Locker. oe] dip Foot Locke Fc € - ee > fe - a - 8 » Foot Locker sets foot in Bul
Slide 20: Foot Locker is the No 1 in the sneakers market
Foot Locker is the No 1 in the sneakers market. A game-changing partnership. Geographical expansion across 8 Southeast European countries. High demand for sneakers, underserved growing markets. Powerful Forces combine creating a sports retail powerhouse. Expected to drive substantial growth in marke
Slide 21: Fourlis Creating a Sports Retail Powerhouse
Fourlis Creating a Sports Retail Powerhouse > Intersport continues its expansion with 8 new stores in 2024. > 4 news stores within 2025 up to May. > Launch of the world’s first Intersport Football Club store in Athens (March 2025)
Slide 22: Enhance our leadership position in sports performance
Enhance our leadership position in sports performance Enter dynamically in the sports lifestyle market Expand in new geographies Focus on synergies between the brands Focus on E-commerce growth and omnichannel approach Leverage digitalization ¥INTERSPORT [Ree
Slide 23: Sportswear Q1 '25
(amounts in € mil.) Q1'24 % Q1'25 Revenue 37.5 6.1% 39.8 Gross Profit 16.1 13.8% 18.3 Gross Profit margin 42.9% 46.0% EBIT -3.0 19.9% -2.4 EBIT margin -8.0% -6.0% EBITDA (adjusted) * 19 29.7% =iLs} -5.1% -3.4% EBITDA (adjusted) margin *See Appendix for further details Fourlis Sportswear O1 ‘25 (Inte
Slide 24: Sportswear: Intersport and Foot Locker
Fourlis Sportswear #INTERSPORT ai mae Meanron spon |Foot Locker | #1 Performance Omni Multi-Brand #] Sneaker Omni Multi-Brand neaker Omni Multi-Bran 24 YI of partnership Presence since 1974 in 26 countries through 2,454 stores worldwide 4 ties: G R ia, C id Bulgaria. . . . counties: ereece, Romania,
Slide 25: Health & Wellness
Fourlis Health & Wellness
Slide 26: High loyalty and conversion, increasing brand awareness
Fourlis High loyalty and conversion, increasing brand awareness Holland _ Barrett > Within 2024 4 new stores in Athens in line with a 3-tier strategy and 1 new store in Thessaloniki > 11 stores in total & ecommerce shop in Greece. > Examining new opportunities for expansion. > Targeted actions to in
Slide 27: Retail Health & Wellness Q1'25
(amounts in € mil.) Q1'24 Q1'25 Revenue 0.4 66.6% 0.7 Gross Profit 0.2 73.1% 0.4 Gross Profit margin 50.9% 52.9% EBIT -0.5 -6.9% -0.6 EBITDA (adjusted) * -0.5 6.0% -0.5 *See Appendix for further details Retail Health & Wellness Fourlis (HOLLAND & BARRETT stores) Q1'25 High customer loyalty and conve
Slide 28: Logistics Services
Fourlis Logistics Services
Slide 29: Establishment of a new international distribution center
Establishment of a new international distribution center of 50k sq.m for Interikea in Aspropyrgos, supplied through the Port of Piraeus, Greece, serving Eastern Mediterranean countries. Strengthening Fourlis Group role as a critical logistics and distribution player in the region. Improved Supply Ch
Slide 30: Trade Logistics
Trade Logistics Schimatari Land: 103,000m? Building: 41,220m2 47 loading and unloading docks for containers and trucks Fully automated pallet operation with 600m of conveyors, 8 automated trucks, sorting cranes & gravity lines. Automated box operation with racking system of 22,000 box locations, 51
Slide 31: Aiming to become a specialized 3rd party logistics company
Aiming to become a specialized company providing 3rd party logistics services covering SE Europe Focus on high productivity and excellent service Operational Management of the Interlkea International Distribution Centre LOGISTICS
Slide 32: ESG Strategy
ESG Strategy
Slide 33: New Sustainability Committee of the BoD
New Sustainability Committee of the BoD. i] ESG under direct strategic oversight Integrated with risk, ethics and operations. " Energy & Emissions = Waste management =" Working Conditions * Social Contribution " Corporate Culture & Governance
Slide 34: Key ESG Performance Highlights - FY 2024
Fourlis Key ESG Performance Highlights - FY 2024 | LAS 3)-¢
Slide 35: Appendix
Appendix
Slide 36: Net financial Income/(Expenses)
Net financial Income/(Expenses) of the Retail Business Group Q1'24 Q1'25 Interest & Bank expenses & other -2.0 -1.6 IFRS16 interest -3.0 -3.6 Total -5.0 5.3 Fourlis Depreciation Analysis Group Q1'24 Q1'25 Depreciation (assets) 3.8 41 Depreciation of Right of Use 78 79 Assets (ROUA)- IFRS 16 . .
Slide 37: Bridge between EBITDA-adjusted and EBITDA (OPR)
Bridge between EBITDA-adjusted and EBITDA (OPR) Fourlis Starting from Q1 ‘25, the group presents EBITDA-adjusted as an alternative profitability metric to better reflect underlying operational performance, excluding the accounting impact of IFRS16. EBITDA-adjusted reflects earnings before interest,
Slide 38: Balance Sheet Q1 2025
Balance Sheet Q1 2024 Balance sheet (€ mil.) FY '24 Q1'25 Property, plant & equipment 83.3 85.1 Right of Use Assets 174.4 365.3 Other Non Current Assets 62.3 214.2 Non-current assets 319.9 664.6 Inventories 98.2 127.0 Receivables 25.6 34.1 Cash & Cash Equivalent 49.4 39.7 Assets Held for Sale 556.9
Slide 39: FY '24 Financial Results
FY ‘24 Financial Results
Slide 40: +1.6% +17.9% ▪ ▪ ▪ ▪ ▪ +26.8% +195% +212% ▪
+1.6% +17.9% ▪ ▪ ▪ ▪ ▪ +26.8% +195% +212% ▪ 40
Slide 41: Consolidated P&L FY '24
(amounts in € mil.) FY '23* % FY '24 Continuing Activities Revenues 521.3 1.6% 529.7 Gross Profit 230.7 7.7% 248.4 Gross Profit margin 44.3% 46.9% EBITDA (OPR)** 35.9 17.9% 42.3 EBITDA margin (OPR) 6.9% 8.0% EBIT 21.1 26.8% 26.7 EBIT margin 4.0% 5.0% Net Financial Income/(expenses) -20.6 -21.2 Contr
Slide 42: Home Furnishings (IKEA stores) FY '24
40.0 35.0 30.0 25.0 20.0 15.0 Revenues 346.8 346.1 Gross Profit margin 46.8% - if : FY '23 FY '24 EBITDA (OPR) 422.7% 375 so 30.5 1.0% 25.0 10.8% 9.0% 20.0 8.8% 7.0% 15.0 5.0% 10.0 FY '23 FY '24 mEBITDA (OPR) EBITDA margin (OPR - retail) FY '23 FY '24 EBIT Me 2% 8.5% ck FY '23 FY '24 mmEBIT (retail)
Slide 43: Sportswear FY '24
Revenues Gross Profit margin +4.1% 1811 _ 47.0% 45.4% 174.0 FY '23 FY '24 FY '23 FY '24 EBITDA (OPR) EBIT 7.0 13.0 412.4% 12.6 74% 219% 53 12.5 6.0 - ee 50 AA 1s ho ne 3.0 2.9% 10s 2.5% 2.0 10.0 95 1.0 9.0 0.0 FY '23 FY '24 FY '23 FY '24 mm@EBITDA (OPR) EBITDA (OPR) margin. mes EBIT margin The. 6.0%
Slide 44: Like-for-like sales growth yoy
▪ ▪ ▪ ▪ ▪ +50% like-for-like sales growth yoy 44
Slide 45: Thank you
Thank you