Fourlis Holdings S.a. · ATHEX:FOYRK
Fourlis — Investor Presentation (April 2026)
49 slides from Fourlis's investor presentation, April 2026
Slide 1: Corporate Presentation
Corporate Presentation April 2026
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: Contents
1. Who we are Contents 2. Group Financial Performance 3. Governance & Shareholder Alignment 4. Business Activities 5. ESG Strategy 6. Outlook 3 3
Slide 4: Who we are
£ Who we are Fourlis
Slide 5: A Leading Retail Group in Southeast Europe
A Leading Retail Group in Southeast Europe Transforming into a scalable platform to accelerate growth and enhance efficiency 25 yrs trusted partnerships Diversified Portfolio 75 yrs retail experience with Global category leaders across key consumer sectors (IKEA | INTERSPORT | Foot Locker) Establish
Slide 6: Building Fourlis Group Retail Platform
A platform enabling Fourlis Group Building Fourlis Group Retail Platform to scale retail concepts faster & more efficiently across Southeast Europe RETAIL CONCEPTS FOURLIS GROUP RETAIL SOUTHHEAST PLATFORM EUROPE MARKETS IKEA Greece ▪ Concept Agnostic Supply Chain INTERSPORT Romania infrastructure Fo
Slide 7: How the platform drives value creation
How the platform drives value creation Value Creation Platform Capabilities • A shared platform of services and systems ✓ Faster network expansion and improved supply chain efficiency. supporting multiple retail concepts ✓ Operating efficiencies, higher productivity and cost discipline. • Centralize
Slide 8: Supply chain infrastructure enabling the Group's retail platform
Supply chain infrastructure enabling the Group’s retail platform A centralized supply chain network supporting multiple brands Capabilities across Southeast Europe Infrastructure • Warehousing and distribution services • Multiple distribution centers across Greece • Serving IKEA, INTERSPORT, Foot Lo
Slide 9: Group Financial Performance FY '25
Group Financial Performance FY ‘25 2 9
Slide 10: FY '25 Highlights
FY ‘25 Highlights Sales +12% PBT at €29.6 mil. €21 mil. at €594 mil. 5.0% margin Contribution from Associates EBIT +15% 2.6x at €30.7 mil. 9.2 mil. Total Net Debt/EBITDA-adj. Shareholder Returns 5.2% margin Double-digit revenue growth and strengthened profitability in FY ’25, supported by market sha
Slide 11: Key Strategic developments
Key Strategic developments ▪ Trade Estates deconsolidation The Group strengthened its balance sheet and maintains strategic exposure to Trade Estates future growth and value creation. ▪ Foot Locker acquisition & expansion Expanding the Group’s presence in the athleisure sports segment. ▪ INTERIKEA D
Slide 12: Operational performance
Operational performance Sales* EBIT* +8% CAGR +27% CAGR +10% +2% +12% +41% +27% +15% 35 10.0% 30.7 9.0% 30 26.7 8.0% 25 7.0% 21.1 6.0% 20 5.0% 14.9 5.0% 5.2% 594 15 522 530 4.0% 474 4.0% 3.0% 10 3.1% 2.0% 5 1.0% 0 0.0% 2022 2023 2024 2025 2022 2023 2024 2025 12 Group EBIT EBIT margin Estates
Slide 13: Operational performance by quarter
Operational performance by quarter Sales* EBIT* +1.7% +13.0% +15.1% +16.6% -16.8% -25.5% +22.6% +44.5% 166.7 162.9 16.0 14.9 15.0% 145.8 144.8 139.7 14.0 13.0% 129.0 116.2118.2 12.0 11.4 11.0% 9.8 10.3 10.0 8.5 9.0% 8.0 9.2% 8.0 8.8% 7.0% 7.4% 6.0 5.9% 5.0% 5.8% 5.5% 4.0 3.0% 2.0 1.0% -2.6% 0.0 -2.1
Slide 14: Operational performance per business unit
Operational performance per business unit Sales EBIT* +7% +22% +3% +65% +3% +42% 369 27.0 27.8 346 221 181 6.3 3.8 -1.7 -1.0 Home Furnishings Sporting Goods -2.4 -2.3 2024 2025 Home Furnishings Sporting Goods Health & Wellness FH & other 2024 2025 1% EBIT* margin 7.8% 7.5% 37% 2.1% 2.8% 62% Home Fur
Slide 15: Supporting investments to fuel Profitable Growth
Supporting investments to fuel Profitable Growth Capex investments Discipline and prioritization in capex investments €18.7 m. €17.6 m. €25.1 m. €26.3 m. 30 11.0% capex split FY ‘25 25 2.2 2.7 9.0% 3.5 20 6.1 7.0% 14% 19% 5.2 2.2 8.5 15 5.0% 4.7 4.7% 4.0% 4.4% 10 3.0% 8.8 3.4% 17 12 22% 5 11 1.0% 44
Slide 16: Healthy balance sheet & returning value to shareholders
..while also maintaining a healthy balance sheet & returning value to shareholders Shareholders Remuneration Net debt 110 102.5 7.0 93.2 90 84.8 85.6 6.0 1.9 1.4 5.0 3.1 70 5.1 1.1 4.0 50 3.0 7.8 7.7 3.1 5.9 6.3 30 2.7 5.4 5.7 2.6 2.0 5.0 4.2 10 1.0 2.1 -10 2022 2023 2024 2025 0.0 2017 2018 2019 202
Slide 17: Contribution from Associates
Contribution from Associates Strong returns depicted in our P&L (PBT) from our participations in Associated companies Income from Associates (€ mil.) Trade Estates 700 60 17.5 601.5 600 541.5 50 500 486.0 40 400 340 8.6 298.4 311.9 30 300 5.7 20 200 22.0 2.7 3.5 1.4 0.8 1.6 100 15.2 10 8.9 0 0 Q1 '2
Slide 18: Governance & shareholder alignment
Governance & shareholder alignment 3 18
Slide 19: Strong Governance & Shareholder Alignment
Strong Governance & Shareholder Alignment Institutional Shareholder Base Fourlis Family; 30% Quest Robust Corporate Alignment with Shareholder Management; 1% Hold IM Governance Framework Value Creation Institutional Investors; 51% other Retail & Other ▪ 56% independent Board members ▪ Executive comp
Slide 20: Business Activities of Fourlis
Business Activities 4 of Fourlis
Slide 21: Home Furnishings
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Slide 22: A long-standing partnership with the global leader in Home Furnishings
A long-standing partnership with the global leader in Home Furnishings Platform capabilities will further enhance efficiency and growth . Over 25 years of partnership with Inter IKEA Systems Strong market presence across Greece, Cyprus and Bulgaria Network of 22 stores & multiple store formats Omnic
Slide 23: IKEA delivers resilient growth, solid margins and market share growth
Revenues IKEA delivers resilient growth, 6.0% cagr solid margins and market 369.5 share growth 346.8 346.1 Revenues Gross Profit margin 310.1 6.7% 369.5 47.7% ▪ Market share gains, higher 346.1 46.8% visitorship and network expansion 2022 2023 2024 2025 ▪ Amongst the top performing regions for the I
Slide 24: Execution on track
Execution on track Key milestones achieved & upcoming openings Network expansion reinforce IKEA’s reach & growth potential supports broader accessibility & growth Upcoming across the region ▪ New IKEA Patra store (7.200 sq.m) • replaced a Pickup & Order point. openings • increased visitorship as par
Slide 25: Sporting Goods
Sporting Goods INTERSPORT / Foot Locker 25
Slide 26: Complementary Concepts: Intersport & Foot Locker
Complementary Concepts Two complementary concepts addressing distinct consumer segments & leveraging the Group’s retail capabilities #1 Performance Omni Multi-Brand #1 Sneaker Omni Multi-Brand 25 yrs of partnership Exclusive franchise partnership signed in 2024 4 countries: Exclusive license for 8 c
Slide 27: Strong growth momentum across Intersport & Foot Locker
Revenues Strong growth Revenues Gross Profit margin momentum across 22% 201.8 221.0 Intersport & Foot Locker 47.0% 174.0 181.2 163.7 46.5% 181.1 ▪ Sales supported by higher conversion, an enriched product range, strengthened brand partnerships & network expansion. FY '24 FY '25 FY '24 FY '25 FY '22
Slide 28: Innovating retail experience through new formats & concepts
Innovating retail experience through new formats & concepts ✓ 8 new stores within 2025 ✓ Launch of the world’s first Intersport Football Club store in Athens (March 2025). A 2nd Football store opened in Thessaloniki in Oct’25. ✓ The new concept leads to high traffic & strong customer engagement ✓ Ex
Slide 29: Foot Locker network expands across the region
Foot Locker network expands across the region ▪ The acquisition of the Greek & Romanian operations completed in April 2025 ▪ Foot Locker sets foot in Bulgaria through 3 new stores in top-tier retail locations ▪ 4 new FL stores (3 in Greece & 1 Romania) ▪ New ecom platforms in Romania & Bulgaria ▪ Th
Slide 30: Health & Wellness
Health & Wellness 30
Slide 31: Strategic partnership to scale Holland & Barrett through pharmacy investment
Strategic partnership to scale Holland & Barrett through a strategic investment in the pharmacy sector Strategic repositioning to scale through a broader distribution platform Strategic Rationale Transaction overview ✓ Scaling through the pharmacy channel: Access to a • Strategic partnership with Go
Slide 32: Holland & Barrett FY '25
Revenues Holland & Barrett FY ‘25 102% cagr Revenues 46% 3.4 3.4 2.3 2.3 ▪ 60% customer loyalty and high conversion rates. 0.8 ▪ Strong Like-for-like stores growth at 28%. FY '24 FY '25 FY '23 FY '24 FY '25 ▪ Ecommerce shows a dynamic presence, with its participation in total category sales at 15%.
Slide 33: ESG Strategy of Fourlis
ESG Strategy of Fourlis
Slide 34: ESG Strategy & Oversight
ESG Strategy & Oversight New Sustainability Committee of the BoD ▪ Long-standing ESG Integration Sustainability embedded since 2008 with a dedicated ESG department and robust reporting ✓ ESG under direct strategic oversight function. ✓ Integrated with risk, ethics & operations ▪ Full Alignment with
Slide 35: Key ESG Performance Highlights 2025
Key ESG Performance Highlights 2025 ✓ -15% in Scope 1 emissions in 2025 in ✓ 57% women in total workforce comparison to base year (2023)-Gr ✓ -39% in Scope 2 emissions (market based) in ✓ 46% women in management ✓ 56% independent BoD members 2025 in comparison to base year (2023)-Gr ✓ >€548k communi
Slide 36: Outlook
KO Outlook Fourlis
Slide 37: Transformation Timeline
Transformation Timeline Our Journey 2026 2027 - 2028 2028+ Platform Platform Scalable Foundations integration growth ✓ Operating model design & governance ✓ Supply chain & omnichannel integration ✓ Faster expansion of retail concepts ✓ Shared services set-up ✓ Cross-brand digital capabilities ✓ Marg
Slide 38: Q1 2026 Trading update
Q1 2026 Trading update ▪ Positive start to FY ‘26 across all ✓ Disciplined execution remains the priority business units ▪ Group sales +12% ytd ✓ Maintaining flexibility amid macro and L-F-L +5% geopolitical uncertainty ▪ Home Furnishings +6% ytd L-F-L +3% ▪ Sporting Goods 23% ytd ✓ Continuing selec
Slide 39: Appendix
Appendix 39
Slide 40: Financial calendar
19/05/2026 Announcement of Key Financial Figures for the First Quarter of 2026. 20/05/2026 Analysts’ Briefing on the Key Financial Figures for the First Quarter of 2026. 12/06/2026 Annual General Shareholders Meeting. Ex-Dividend Date* (A date after June 19, 2026, which is the expiration day of 29/0
Slide 41: Group P&L FY '25
(amounts in € mil.) FY '24 % FY '25 Group Revenues 529.7 12.1% 593.7 P&L FY ‘25 Gross Profit 248.4 13.0% 280.6 Gross Profit margin 46.9% 47.3% EBITDA* 73.0 12.6% 82.2 EBITDA margin 13.8% 13.8% EBIT 26.7 15.0% 30.7 EBIT margin 5.0% 5.2% Net Financial Income/(expenses) -21.2 4.9% -22.2 Contribution fr
Slide 42: Net financial Income/(Expenses) and Depreciation Analysis
Net financial Income/(Expenses) of the Retail Business Depreciation Analysis Group FY ’24 FY ’25 Group FY '24 FY '25 Interest & Bank expenses & other -7.7 -6.8 Depreciation (assets) 15.6 17.3 IFRS16 interest -13.5 -15.4 Depreciation of Right of Use Assets 30.7 34.1 Total -21.2 -22.2 (RoUA)- IFRS 16
Slide 43: EBITDA-adjusted bridge
EBITDA-adjusted bridge EBITDA-adjusted used to better reflect underlying operational performance. EBITDA-adjusted reinstates lease expenses in the calculation, providing a clearer representation of the Group’s underlying profitability and cost structure, independent of lease accounting treatment. Gr
Slide 44: Allocation of parent company's shared service operations costs
Allocation of parent company’s shared service operations costs EBIT pro- opex EBIT FY ‘24 forma allocation reported Home Furnishings 27.0 -2.5 29.6 Sporting Goods 3.8 -1.5 5.3 44
Slide 45: Home Furnishings (IKEA stores) FY '25
Home Furnishings (IKEA stores) FY ‘25 (amounts in € mil.) FY ‘24* % FY '25 Revenues 346.1 6.7% 369.5 Gross Profit 162.1 8.7% 176.2 Gross Profit margin 46.8% 47.7% EBITDA* 50.8 3.8% 52.8 EBITDA margin 14.7% 14.3% EBIT 27.0 2.8% 27.8 EBIT margin 7.8% 7.5% EBITDA (adjusted)* 28.3 0.7% 28.5 EBITDA (adju
Slide 46: Sporting Goods (Intersport & Foot Locker stores) FY '25
Sporting Goods (Intersport & Foot Locker stores) FY ‘25 (amounts in € mil.) FY ‘24 * % FY '25 Revenue 181.2 22.0% 221.0 Gross Profit 85.1 20.8% 102.9 Gross Profit margin 47.0% 46.5% EBITDA* 25.2 24.2% 31.2 EBITDA margin 13.9% 14.1% EBIT 3.8 65.0% 6.3 EBIT margin 2.1% 2.8% EBITDA (adjusted) * 7.7 37.
Slide 47: Health & Wellness (Holland & Barrett stores) FY '25
Health & Wellness (HOLLAND & BARRETT stores) FY ‘25 (amounts in € mil.) FY '24 FY '25 Revenue 2.3 45.5% 3.4 Gross Profit 1.1 53.4% 1.7 Gross Profit margin 48.0% 50.6% EBITDA* -1.7 13.1% -1.5 EBIT -2.4 2.9% -2.3 EBITDA (adjusted) * -2.2 3.8% -2.1 47
Slide 48: Balance Sheet FY 2025
Balance Sheet FY 2025 Balance sheet (€ mil.) FY '24 FY '25 Property, plant & equipment 83.3 91.7 Right of Use Assets 174.4 380.4 Other Non Current Assets 62.3 233.4 Non-current assets 319.9 705.4 Inventories 98.2 143.2 Receivables 25.6 20.8 Cash & Cash Equivalent 49.4 43.2 Assets Held for Sale 556.9
Slide 49: Thank you
Thank you fourlis.com