Athens, Greece – June 12, 2026 – FOURLIS HOLDINGS S.A. (Bloomberg: FOYRK:GA - Reuters: FRLr.AT - ISIN: GRS096003009) held its Annual General Meeting of Shareholders today, presenting the Group’s FY2025 performance, its strategic progress and its Guidance for FY2026.
Strong FY 2025 performance and strategic progress
Ιn FY 2025, Fourlis Group delivered double-digit revenue growth and improved profitability, supported by solid organic performance, market share gains, network expansion and disciplined cost management. Group sales increased by 12% to €593.7 mil., with like-for-like growth of approximately 6%, while EBIT rose by 15% to €30.7 mil. Profit before tax reached €29.6 mil., supported by a €21.0 mil. contribution from associates. During the year, the Group also advanced key strategic initiatives, including the deconsolidation of Trade Estates, the acquisition and expansion of Foot Locker in Greece and Romania, continued network development across IKEA and INTERSPORT, and progress on the Inter IKEA International Distribution Center.
Building a future-ready retail platform
The Group is accelerating the development of a common retail platform that connects its leading international brands with its regional footprint through shared infrastructure and capabilities. The platform brings together supply chain operations, shared corporate services, digital and omnichannel capabilities, common data architecture and the Group’s extensive retail expertise. The objective is to create a more agile and scalable organization that can:
- operate multiple concepts and markets more efficiently;
- reduce duplication and simplify decision-making;
- accelerate the rollout of existing and future retail concepts;
- strengthen customer engagement through common digital and data capabilities; and
- deliver sustainable operating efficiencies and stronger returns.
During 2026, Fourlis Group is establishing the platform’s foundations, including the centralization of selected Finance, IT, Human Resources, Procurement and Legal functions, the introduction of new agile operating routines and the implementation of a unified systems and data roadmap.
Key initiatives include the development of common finance and performance-management systems, the next-generation ERP and commerce platforms, enhanced customer relationship management capabilities and continued investment in network infrastructure and enterprise cybersecurity.
These initiatives are intended not only to improve the Group’s cost base, but also to enhance the quality, speed and consistency of execution across all concepts and markets.
FY 2026 Guidance
The Group’s commercial performance remains positive. Up to June 6, 2026, Group sales increased by approximately 8%, with like-for-like growth of approximately 4%.
Based on current trading and management’s latest market assumptions, Fourlis Group estimates for FY 2026 are as follows:
- Group sales of approximately €645 mil., representing a growth of approximately 8.6% year-on-year.
- Gross profit margin of approximately 46.5%.
- EBIT of €15–17 mil., including the impact of non-recurring transformation and restructuring costs amounting to €10.7 mil.
- Recurring annual benefits of approximately €9 mil. from 2027 onwards.
Sales and gross profit margin are progressing according to plan, demonstrating the resilience of the Group’s commercial model amidst a challenging external environment.
Inflationary pressures across rents, energy, transportation and payroll, of approximately €2.5 mil. compared with the initial budget are expected to be fully offset through cost-control measures. The Romanian market is expected to weigh on the Group’s initial budget estimates by approximately €4–5 mil.
Against this backdrop, the Group is accelerating a number of strategic initiatives during 2026 in order to mitigate pressures, strengthen its operating model, improve productivity and bring forward recurring benefits from 2027 onwards.
These initiatives include the completion of the shared-services platform, organizational restructuring, network rationalization and centralization of across countries, including Romania, and the completion of the Holland & Barrett transaction.
The related non-recurring impact is estimated at approximately €10.7 mil. in 2026. These initiatives are expected to generate recurring annual benefits exceeding €9 mil. from 2027 onwards.
The Group views 2026 as an important implementation year, during which it is accelerating the changes required to build a more agile, scalable and future-ready organization. The resulting recurring efficiencies, together with the continued expansion and maturity of the Group’s retail networks, are expected to support stronger operational efficiency and the Group’s target of annual EBIT margin improvement of approximately 50–100 basis points in the medium term, on a sustainable basis.
Shareholder returns
The Annual General Meeting approved a dividend of €0.15 per share for FY2025. Fourlis Group remains committed to a balanced capital allocation approach, combining investment in profitable growth, financial discipline and consistent returns to shareholders.
Commenting on the Group’s outlook, the Group’s CEO John Vasilakos stated: “Our objective is to build a stronger, more agile and future-ready organization, capable of supporting multiple brands and markets with greater speed, consistency and efficiency. We are accelerating the transformation of our operating model in 2026 not simply to reduce costs, but to future-proof the organization and fundamentally improve the way the Group operates and performs. The actions we are implementing are expected to generate meaningful recurring benefits from 2027 onwards, strengthen operating leverage and support sustainable margin improvement, scalable growth and long-term value creation for our shareholders.”
The AGM 2026 presentation is available by clicking here.
