Q1 2026 Fourlis SA Earnings Call Transcript
Key Points
- Fourlis Holdings SA (LTS:0NT5) reported a 13% year-on-year increase in revenues, reaching EUR133 million, with a like-for-like growth of 5%.
- The company experienced solid sales growth across all business units, including IKEA, Intersport, Foot Locker, and HOLLAND & BARRETT.
- The Home Furnishings segment saw a 6% increase in sales, supported by resilient demand and market share gains.
- Sporting Goods sales increased by 25%, with Intersport and Foot Locker showing strong market share gains.
- The company is making significant investments in technological and operational revamping, aiming to build a more scalable platform and stronger operating leverage from 2027 onwards.
- Profitability in Q1 was affected by seasonality, planned stock optimization, and expansion-related costs, leading to a profit before tax of minus EUR5.5 million.
- The Romanian market is facing significant challenges, with sales down 14% year-to-date and further declines expected, impacting overall profitability.
- External inflationary pressures, including energy, transportation, and rent costs, are putting additional strain on the company's financials.
- 2026 is considered a transition and investment year, with short-term profitability being affected by platform building costs and expansion investments.
- The company is absorbing one-off costs related to transformation and platform building initiatives, which are expected to weigh on profitability during 2026.
Ladies and gentlemen, thank you for standing by. I'm Constantinos, your chorus call operator. Welcome and thank you for joining the Fourlis Group conference call and webcast to present and discuss the first quarter 2026 key financial figures. We have with us today Mr. Vassilios Fourlis, Chairman; Mr. John Vasilakos, CEO; and Ms. Elena Pappa, Investor Relations and Corporate Affairs Director.
At this time, I would like to turn the conference over to Mr. Fourlis. Mr. Fourlis, you may now proceed.
Thank you very much. Good evening, and thank you for attending our Q1 conference call. Market performance has been mixed among our different countries. Whereas Greece, Cyprus and Bulgaria are experiencing positive trends, especially in sports style category, Romania is under serious headwinds. As we have announced since Q4 2025, our two main strategic pillars for 2026 are: one, a persistent growth in our store network, especially Foot Locker and small IKEA stores; two, a major technological and
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