The significant value that Vasilis Fourlis has in his “hands” is confirmed by the recent financial figures which prove the dominance of the listed company in the retail sector.
In the nine-month period of 2024, sales exceeded 407 million euros (from 389 million euros in 2023), while net profits more than doubled to 12 million euros (from 5.2 million euros in 2023). This amount, in fact, was increased by 100% even compared to the pre-pandemic period.
The above performance undoubtedly makes Vasilis Fourlis, son of the Group’s founder, Stelios Fourlis, optimistic about achieving the annual targets, certifying the growth trajectory of the listed company. And all this with an EBIT profit margin of over 9% (up from 5.5% last year).
At the same time, the performance of IKEA and Intersport is also impressive, with a turnover of 257 million euros and 130 million euros, respectively, in the nine-month period.
The prospects of Holland & Barrett, which is the next big bet of the management, are also optimistic, while we should not forget, on the one hand, the ambitious venture with Foot Locker, and on the other, the new commercial park at Athens Airport.
The contribution of Trade Estates is also considered rather important.
The “unfair” price on the stock exchange
However, Vasilis Fourlis may see the financial figures “blooming”, but the same does not apply for the company’s share on the Athens Stock Exchange, which is valued at less than 200 million euros, with a profit multiplier (P/E) ratio of less than 10x.
Its price is currently at 3.6 euros, significantly below the pre-pandemic levels (>5.0 euros) despite the fact that net profitability has doubled.
