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Fourlis Group Delivers Robust Growth In 2025 Amid Expanding Retail Footprint

by THEFUTURE.TEAM

November 26, 2025

Fourlis Group has reported a notable surge in sales and profitability for the first nine months of 2025, driven by the continued expansion of its IKEA, Intersport, and Foot Locker networks across Greece, Cyprus, and Romania. The consolidated results underscore the company’s disciplined strategy and robust operating performance.

Impressive Financial Results

The latest financials display a marked increase in revenue to €430.7 million from €390 million the previous year. Gross profit rose to €200.7 million compared to €180.2 million in 2024, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to €53.7 million, resulting in a margin of 12.5 percent.

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Furthermore, Earnings Before Interest and Taxes (EBIT) climbed to €30.6 million from €21.9 million, and net profit nearly doubled to €13 million, up from €7.5 million, driven by enhanced operating productivity and stronger contributions from associates.

Dominance of The IKEA Division

The IKEA division remains the largest revenue contributor with sales reaching €170.4 million, marking a 5.1 percent year-on-year increase. Gross profit for the division advanced to €73.4 million, while segment EBIT expanded to €12 million from €8.2 million, buoyed by new store openings and sustained customer demand.

Sports Retail and Health Segments Surge

The sports retail segment, which includes Intersport and Foot Locker, delivered significant growth. Sales increased to €157.7 million from €130.7 million, with EBITDA rising to €14.3 million and EBIT improvement from €2.3 million to €4.3 million. Similarly, the Holland & Barrett health and wellness segment experienced growth with revenue climbing to €24 million from €19.3 million, and an increase in gross profit to €17.2 million, supported by an EBITDA of €1.5 million.

Strategic Investment And Regional Expansion

Fourlis Group maintained a high level of investment activity during the period. Total capital expenditures reached €106.6 million, which included €63.8 million allocated for property via Trade Estates, €27.6 million for digital transformation initiatives, and €10.1 million towards expanding store footprints across its key retail brands. Although the majority of operations are centered in Greece and Romania, Fourlis continues to solidify its strategic presence in Cyprus, operating the IKEA store in Nicosia, a Pick-Up & Order Point in Limassol, and complementing these with the Cyprus e-shop and various sports retail outlets.

For further details, please visit the official Fourlis website.

Resilience In The Face Of Cyber Challenges

While the Cyprus operations experienced a temporary disruption due to a ransomware cyberattack last year, affecting online services including the e-commerce platform, the company confirmed that no personal data was compromised and that online operations were gradually restored. Despite this challenge, Fourlis remains committed to its growth trajectory for 2025.

Looking Ahead

Analysts observe that Greek retailers are strategically expanding across the Cypriot market, reshaping the local landscape in home furnishings, sportswear, and consumer goods. With an EBITDA-adjusted figure of €57.5 million signaling improved operating performance, Fourlis Group anticipates stable growth for the remainder of 2025, underpinned by ongoing network expansion, resilient consumer demand, and a continued focus on investment in logistics and digital systems.

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Cyprus And Greece Outline Joint Tourism Plans For Summer 2026

Strategic Partnership Enhances Tourism Prospects

The Cyprus Tourism Authority (EOT Cyprus) presented proposals for summer 2026 focused on strengthening tourism cooperation between Cyprus and Greece, with joint efforts aimed at attracting visitors from long-haul markets.

Greece: The Top Destination For Cypriot Travelers

At an event on April 28, Athena Spakouri, Director of EOT Cyprus, said Greece is expected to remain the main travel destination for Cypriot residents, with plans extending beyond established locations to include lesser-known regions. This approach reflects a broader effort to diversify travel options while maintaining strong demand between the two countries.

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Complementary Destinations, Unified Vision

Building on this, Spakouri noted that Cyprus and Greece offer complementary tourism experiences rather than competing directly. Joint programmes are therefore being positioned to attract visitors from markets such as the United States and China, while tourism activity continues to be assessed in the context of broader geopolitical developments.

Robust Air And Sea Connectivity

Supporting this cooperation, Konstantinos Kollias said around 600,000 Cypriots travelled to Greece in 2025. Frequent flights, short travel times, and ferry connections between Limassol and Piraeus continue to facilitate movement between the two countries and sustain travel flows.

Diverse Tourism Offerings for a New Era

Konstantinos Kollias highlighted that Greece’s tourism portfolio spans from traditional seaside holidays to sectors such as cultural, religious, gastronomic, agritourism, ecotourism, spa, conference, and medical tourism.

This range reflects the expansion of tourism offerings across different segments and travel preferences. In parallel, Joseph Iosif referred to Greece as a “second homeland” for Cypriot travellers, pointing to longstanding cultural and travel links between the two countries.

Innovative Programs And Strengthened Connections

Building on this approach, the EOT strategy includes initiatives focused on gastronomic routes, cultural trails, thematic and religious tourism, as well as curated city breaks in destinations such as Athens and Thessaloniki. These programmes were presented at the event alongside references to historical, cultural, and religious connections between Cyprus and Greece, including remarks from Bishop Gregorios of Mesaoria.

Boosting Air Connectivity And Island Accessibility

At the same time, airlines including Aegean Airlines, Sky Express, and Cyprus Airways outlined plans to expand connections between Cyprus and Greece, with a focus on increasing access to island destinations. The event also brought together stakeholders from the Deputy Ministry of Tourism, Hermes Airports, tour operators, and ACTAA, reflecting coordination across different parts of the tourism sector.