Fourlis Group sales rise 7.6% to €284 million in H1 ’26

Sales at Fourlis Group rose 7.6% in the first half of 2026, reaching €284 million. The positive performance was driven by an increase in like-for-like sales and the expansion of its store network. Gross profit also increased by 4.9% to €132.6 million, with the gross profit margin standing at 46.7%.

The performance reflects an improved product mix, strong momentum across individual categories, targeted inventory management and promotional activity. In terms of profitability, EBITDA fell to €27.7 million, from €30.8 million in the corresponding period last year.

Strong seasonality and inflationary pressures

The decline in profitability was attributed to strong seasonality, inflationary pressures on operating costs and the challenging business environment in Romania. In addition, planned start-up costs for new strategic growth investments, as well as non-recurring costs related to the rationalisation of the network, weighed on performance.

The contribution from associates amounted to €12.8 million, supported by Trade Estates and SSRM. In July 2026, the group paid a dividend of €0.15 per share for the 2025 financial year.

Also in July 2026, the company began implementing its share buyback programme, which provides for the acquisition of up to 2,556,774 of the company’s own shares, equivalent to 5% of its share capital.

The group’s operating profitability in the first half was affected by seasonality, inflationary pressures on operating costs, the challenging business environment in Romania, as well as planned start-up and development costs for strategic investments and non-recurring expenses, mainly related to the rationalisation of the sports retail network in Romania.

A key strategic milestone is the sale of the group’s 50% indirect stake in Sofia South Ring Mall (SSRM) for €49.35 million. The transaction is expected to generate a net profit of €9.3 million and have a positive impact on the group’s pre-tax profit for 2026. Proceeds from the transaction are expected to be used primarily to reduce net debt.

Addressing the pressures

Fourlis Group CEO Yiannis Vassilakos said: “The first half of 2026 confirms the group’s positive commercial performance, with sales increasing by 7.6%, driven by higher market shares, resilient performance across most of our markets and the continued expansion of our network. Profitability was affected by inflationary pressures and the particularly challenging environment in Romania.

We are addressing these pressures through strict cost control and are accelerating efforts to rationalise the network, centralise operations and develop a unified retail platform. These initiatives will weigh on 2026 with exceptional costs, but are expected to deliver annual recurring benefits of more than €9 million from 2027 onwards, creating a more efficient and flexible group.

We confirm our guidance for 2026 and remain focused on effective execution of our strategy, cost control and maintaining the commercial momentum of our activities.

At the same time, the sale of our stake in Sofia South Ring Mall further strengthens our strategic focus and financial flexibility, as we continue to build the platform for improved scalability and long-term value creation.”

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