According to Fourlis Group financial results for the period ended in September, the preparation for the initial public offering (IPO) of Trade Estates REIC, a subsidiary of the Group, is under way. With €190
million current Gross Asset Value and a pipeline of acquisitions and development approximately € 250 million, Trade Estates
REIC aims to play an important role in its sector.
The Group is also establishing a New Technologies Business Development Department, aiming to utilize the opportunities in the
new shaped landscape. The department is staffed with Greek Professionals with international background in the field of digital
technologies.
With regards to the financial results it is noted that the Group realized sales of € 316,5 million, 13,3% higher vs 9MFY20.
E-Commerce sales for the Group in 9MFY21 reached € 60,2 million vs € 39,0 million in 9MFY20, increased by 54,4%
The Group realized Net Profit of € 8,0 million in the same period while its Net Debt as of 30/09/2021 was € 100,9 million, vs € 113,9 million as of 30/09/2020 and € 105,4 million as of 31/12/2020.
€ 94,6 million Net Debt is related to the operating activities of the Group, while € 6,3 million Net Debt is related
to the Real Estate activity.
You may find out more in the company's official press release.
