Upcoming Dividend • Jun 22
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 03 July 2026. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.7%). Declared Dividend • May 25
Dividend of €0.15 announced Dividend of €0.15 is the same as last year. Ex-date: 29th June 2026 Payment date: 3rd July 2026 Dividend yield will be 3.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (140% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 22% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 20
Fourlis Holdings S.A. announces Annual dividend, payable on July 03, 2026 Fourlis Holdings S.A. announced Annual dividend of EUR 0.1500 per share payable on July 03, 2026, ex-date on June 29, 2026 and record date on June 30, 2026. New Risk • Apr 02
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 123% Cash payout ratio: 133% Announcement • Mar 25
Quest Holdings S.A. (ATSE:QUEST) acquired an additional 5.48% stake in Fourlis Holdings S.A. (ATSE:FOYRK). Quest Holdings S.A. (ATSE:QUEST) acquired an additional 5.48% stake in Fourlis Holdings S.A. (ATSE:FOYRK) on March 24, 2026. Following the transaction Quest Holdings directly holds 10.34% voting rights while through Iqbility it holds 0.19% voting rights in Fourlis Holdings S.A. corresponding to 5,464,831 voting rights directly and indirectly representing 10.53% voting rights in Fourlis Holdings S.A.
Quest Holdings S.A. (ATSE:QUEST) completed the acquisition of an additional 5.48% stake in Fourlis Holdings S.A. (ATSE:FOYRK) on March 24, 2026. Announcement • Feb 27
Fourlis Holdings S.A. to Report Fiscal Year 2025 Results on Mar 31, 2026 Fourlis Holdings S.A. announced that they will report fiscal year 2025 results After-Market on Mar 31, 2026 New Risk • Nov 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.1% Last year net profit margin: 4.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 123% Paying a dividend despite having no free cash flows. Minor Risks High level of debt (51% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.1% net profit margin). Reported Earnings • Nov 28
Third quarter 2025 earnings released Third quarter 2025 results: EPS: €0.28. Revenue: €166.7m (up 11% from 3Q 2024). Net income: €13.7m (up 188% from 3Q 2024). Profit margin: 8.2% (up from 3.2% in 3Q 2024). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Specialty Retail industry in Germany. Announcement • Jun 22
Fourlis Holdings S.A. announces Annual dividend, payable on July 03, 2025 Fourlis Holdings S.A. announced Annual dividend of EUR 0.1500 per share payable on July 03, 2025, ex-date on June 27, 2025 and record date on June 30, 2025. Announcement • Mar 05
Fourlis Holdings S.A., Annual General Meeting, Jun 20, 2025 Fourlis Holdings S.A., Annual General Meeting, Jun 20, 2025. Board Change • Oct 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Dimitris Valachis was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.67, the stock trades at a trailing P/E ratio of 8x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total returns to shareholders of 12% over the past three years. Reported Earnings • Sep 12
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €135.0m (up 3.7% from 2Q 2023). Net income: €10.8m (up 94% from 2Q 2023). Profit margin: 8.0% (up from 4.3% in 2Q 2023). Board Change • Jul 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Dimitris Valachis was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 01
Fourlis Holdings S.A. to Report Q1, 2024 Results on May 21, 2024 Fourlis Holdings S.A. announced that they will report Q1, 2024 results on May 21, 2024 Announcement • Mar 01
Fourlis Holdings S.A., Annual General Meeting, Mar 06, 2024 Fourlis Holdings S.A., Annual General Meeting, Mar 06, 2024, at 11:00 E. Europe Standard Time. Location: 18-20 Sorou Street, Marousi, Athens, Greece Athens Greece Announcement • Nov 01
Fourlis Holdings S.A. to Report Nine Months, 2023 Results on Nov 21, 2023 Fourlis Holdings S.A. announced that they will report nine months, 2023 results on Nov 21, 2023 Announcement • Jan 27
Eren Perakende ve Tekstil Anonim Sirketi Group entered into an agreement to acquire Intersport Atletik Magazacilik Ve Dis Ticaret Anonim Sirketi from Fourlis Holdings S.A. (ATSE:FOYRK). Eren Perakende ve Tekstil Anonim Sirketi Group entered into an agreement to acquire Intersport Atletik Magazacilik Ve Dis Ticaret Anonim Sirketi from Fourlis Holdings S.A. (ATSE:FOYRK) for enterprise value of €3.0 million on January 26, 2023. Announcement • Dec 31
TAF Retail, LLC entered into an agreement to acquire Sneakers Market S.A from Fourlis Holdings S.A. (ATSE:FOYRK) for approximately €4 million. TAF Retail, LLC entered into an agreement to acquire Sneakers Market S.A from Fourlis Holdings S.A. (ATSE:FOYRK) for approximately €4 million on December 30, 2022. Transtion will be finalized upon closing of the transaction at the end of February 2023, subject to any adjustments stipulated by the contract between the two parties. Announcement • Nov 01
Fourlis Holdings S.A. to Report Nine Months, 2022 Results on Nov 22, 2022 Fourlis Holdings S.A. announced that they will report nine months, 2022 results on Nov 22, 2022 Reported Earnings • May 19
First quarter 2022 earnings released First quarter 2022 results: €0.11 loss per share. Revenue: €96.3m (up 27% from 1Q 2021). Net loss: €5.70m (loss widened 111% from 1Q 2021). Over the next year, revenue is forecast to grow 4.7%, compared to a 9.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • May 02
Fourlis Holdings S.A. to Report Q1, 2022 Results on May 17, 2022 Fourlis Holdings S.A. announced that they will report Q1, 2022 results on May 17, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Maria Georgalou was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2021 earnings released Full year 2021 results: Revenue: €439.8m (up 19% from FY 2020). Net income: €11.5m (up €20.2m from FY 2020). Profit margin: 2.6% (up from net loss in FY 2020). Over the next year, revenue is forecast to grow 7.7%, compared to a 17% growth forecast for the retail industry in Germany. Board Change • Mar 23
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Maria Georgalou was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 27
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: €0.15. Revenue: €130.8m (up 9.2% from 3Q 2020). Net income: €7.50m (up 79% from 3Q 2020). Profit margin: 5.7% (up from 3.5% in 3Q 2020). Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 12%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €110.1m (up 47% from 2Q 2020). Net income: €3.27m (up €5.42m from 2Q 2020). Profit margin: 3.0% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Board Change • Jul 31
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Stylianos Stefanou was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 22
First quarter 2021 earnings released: €0.052 loss per share The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: €75.6m (down 11% from 1Q 2020). Net loss: €2.70m (loss narrowed 47% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 26
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €370.6m (down 21% from FY 2019). Net loss: €8.70m (down 173% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 10
New 90-day high: €4.00 The company is up 11% from its price of €3.62 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.23 per share. Is New 90 Day High Low • Jan 20
New 90-day high: €3.95 The company is up 13% from its price of €3.50 on 22 October 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.30 per share. Announcement • Dec 01
Fourlis Holdings S.A., Annual General Meeting, Dec 21, 2020 Fourlis Holdings S.A., Annual General Meeting, Dec 21, 2020, at 11:00 E. Europe Standard Time. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS €0.081 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €119.8m (down 9.3% from 3Q 2019). Net income: €4.20m (down 41% from 3Q 2019). Profit margin: 3.5% (down from 5.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 28
Revenue misses expectations Revenue missed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 6.0%, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Valuation Update With 7 Day Price Move • Nov 14
Market bids up stock over the past week After last week's 15% share price gain to €3.32, the stock is trading at a trailing P/E ratio of 33.4x, up from the previous P/E ratio of 29x. This compares to an average P/E of 19x in the Specialty Retail industry in Europe. Total return to shareholders over the past three years is a loss of 30%. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 18% share price gain to €3.38, the stock is trading at a trailing P/E ratio of 33.3x, up from the previous P/E ratio of 28.1x. This compares to an average P/E of 19x in the Specialty Retail industry in Europe. Total return to shareholders over the past three years is a loss of 27%. Is New 90 Day High Low • Oct 24
New 90-day low: €3.35 The company is down 7.0% from its price of €3.61 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.90 per share. Is New 90 Day High Low • Sep 26
New 90-day low: €3.42 The company is down 9.0% from its price of €3.76 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.49 per share. Announcement • Sep 06
Fourlis Holdings S.A. to Report First Half, 2020 Results on Sep 01, 2020 Fourlis Holdings S.A. announced that they will report first half, 2020 results on Sep 01, 2020 
