With sales of over half a billion euros, a figure that has been marked since the pre-crisis era, when it also had other activities (courier, Samsung Electronics, etc.), closed in 2022 for Furlis Group, performance largely due to consumers returning to brick-and-mortar stores. The results of 2022, of course, also include activities in Turkey, from which, however, the group withdrew in early 2023. The results, of course, in 2023 will include the new retail business of the group, the development of beauty and health stores under the Holland & Barrett brand. During 2023, it is also expected that Entrance to the Athens Commercial Property Exchange AEEAP.

According to the financial results announced yesterday by the listed company, its turnover in 2022 was 501.4 million euros, compared to 493.8 million euros in 2021. fixing an increase of 14%. The full operation of physical stores led to a decrease in online sales both in absolute terms and as a percentage of the group’s total turnover. In particular, online sales in 2022 amounted to 69.7 million euros, compared to 77.8 million euros in 2021, a decrease of 10.4%. Their share in the group’s total turnover fell to 13.9% from 15.76% in 2021.

Consolidated operating income before interest, taxes, depreciation and amortization (EBITDA) was 39.6 million euros compared to 38.1 million euros in 2021, up 4%, while profit after tax increased 71.4% compared to from 2021 and amounted to 19.8 million euros in 2022. from 11.5 million euros in 2021. It should be noted that profitability was significantly affected by rising prices and, mainly, rising energy costs. As the group itself points out, the cost of energy to operate its stores and warehouses now represents 5.4% of operating expenses for 2022, compared to 4.5% for all of 2021.

The full operation of physical stores last year led to a decline in online sales.

The group’s net borrowings at 31 December 2022 were €201.3 million, compared to €135.8 million in 2021. Of this, €102.5 million (€104.6 million as at 31 December 2021) is attributable to commercial retail activities of the group and 98.8 million euros (31.2 million euros as of December 31, 2021). million euros as of 31.12.2021) real estate investment activities, namely Trade Estates AEEAP.

Appliances and furniture retailer (IKEA) had sales of €317.6 million compared to €273.4 million in 2021, up 16.2%. Sales in Greece were up 15.2%, while sales in the rest of the world were up 17.4% compared to 2021. EBITDA in the Home Appliances business was €30.5 million versus €25.8 million, and profit before tax was €23.8 million.

In sporting goods retail (Intersport), sales increased by 10.6% compared to 2021 and amounted to 184.3 million euros against 166.6 million euros. In Greece, sales grew by 10.8%, while in the rest of the world, growth averaged 10.4% compared to 2021. EBITDA was €12.4 million compared to €14.2 million in 2021, recording a decline of around 13%. The result was a pre-tax loss of 0.4 million euros against a profit of 2.1 million euros in 2021, which is mainly due to operations in Turkey, where the group significantly reduced the number of its stores before leaving completely.