The Management Board of INTERSPORT Polska S.A. Company informs that according to preliminary estimates, in 2015 the Company: 1) Gained profit on the sale of goods and services of PLN 214,184 k, i.e. ca. 1.4% lower than in 2014 (was: PLN 217,184 k); 2) Reported EBIDTA of PLN 4 954 k as compared to EBIDTA of PLN 5,692 k in 2014; 3) Reported gross loss of PLN 3,936 k as compared to the gross loss of PLN 3,176 k in 2014.

After the three quarters of 2015 the Company’s financial results were positive – gross profit of PLN 688 k and EBITDA on the level of PLN 6,912 k. However the increasing positive trend was stopped due to the lack of winter weather and decreasing sales at the end of the year. Only in December 2015 the Company’s revenue on year to year basis was 9.2% lower (primarily due to a poor sale of winter assortment) the fact which increasingly decreased the margin gained in stores.

Due to a late start of winter (only in January 2016) the effect of „sales shifting” in respect to winter assortment was observed which had a negative impact on the sale and sale margin in the second half of December 2015 but at the same time had a very positive impact on the results of the sale in the first weeks of January 2016.

Throughout 2015 the Company decreased the costs on operations on year-to-year basis:
1. by 4.1 %, i.e. by 2,485 k in comparable stores;
2. by 0.8 %, i.e. by 734 k on total costs.

The main reason behind poorer financial results in 2015 was lower sales margin on year-to-year basis by 1.8% i.e. PLN 1,495 k. The following factors had an effect on decreasing the margin:
1. poorer than expected sale of winter assortment goods (particularly in December 2015)
2. sales of seasonal goods (which at the same time lowered stocks as at 31.12.2015 by 15% on year-to-year basis i.e. by PLN 9,648 k. A positive effect of such an action, i. e. an increase of margin shall be noticeable in 2016).

Detailed financial report for the year 2015 shall be published on 18 March 2016, after all the data included therein have been verified by the chartered auditor.