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Estimated financial results for the year 2014.
Legal grounds:
Art. 56 Section 1 point 2 of the public offering Law –current and periodic information
Art. 56 Section 1 point 2 of the public offering Law –current and periodic information
Pursuant to §5 point 1 sub-point 25 of the Regulation of the Minister of Finances dated 19 February 2009 on current and periodic information submitted by issuers of securities, in connection with §31 of the said regulation, the Management Board of INTERSPORT Polska S.A. Company with the seat in Cholerzyn informs that according to preliminary estimates, in 2014 the Company:
1). Gained profit on the sale of goods and services of PLN 217,184 k, i.e. on the level comparable to 2013 (was: PLN 219,891 k). Higher sales of all-year assortment groups (ca. 20%) compensated the sale of winter assortment groups (ca. -20%).
2). Reported EBIDTA of PLN 5,692 k as compared to EBIDTA of PLN 6,534 k in 2013;
3). Reported net loss of PLN 2,653 k as compared to the net loss of PLN 1,873 k in 2013.
In 2014 the Company bore expenses related to the following activities, the results of which will be visible in the following year:
a/. significant changes were introduced to the assortment policy – the percentage share of all-year product groups in total sales as compared to winter product groups was increased. Changes to the store decors were implemented, consisting in separating permanent, all-year sale zones devoted to certain product groups – football, running, fitness, outdoor, and swimming. The decrease of the winter group stocks, in effect of deep sales in 2014, resulted in lowering the margin by 0.04 percentage points (from 39.3% in 2013 to 38.9% in 2014). However, ultimately the exchange of winter groups with all-year product groups will result in the increase of the profit margin.
b/. The selling area of certain stores was optimized. The Company has decreased the area of certain stores which have not generated the expected profit, at the same time opening 3 new stores in 2014. If effect of these activities the total selling area has not changed.
c/. The program aimed at decreasing the cost of conducting business activity in 2014 was continued, despite the opening of 3 new stores. The Company decreased the costs on operation by ca. PLN 740 k;
d/. The strategy of E-store and loyalty program for returning customers was implemented.
The detailed financial report for the year 2014 will be published on 20 March 2015, after the review of the certified auditor.
1). Gained profit on the sale of goods and services of PLN 217,184 k, i.e. on the level comparable to 2013 (was: PLN 219,891 k). Higher sales of all-year assortment groups (ca. 20%) compensated the sale of winter assortment groups (ca. -20%).
2). Reported EBIDTA of PLN 5,692 k as compared to EBIDTA of PLN 6,534 k in 2013;
3). Reported net loss of PLN 2,653 k as compared to the net loss of PLN 1,873 k in 2013.
In 2014 the Company bore expenses related to the following activities, the results of which will be visible in the following year:
a/. significant changes were introduced to the assortment policy – the percentage share of all-year product groups in total sales as compared to winter product groups was increased. Changes to the store decors were implemented, consisting in separating permanent, all-year sale zones devoted to certain product groups – football, running, fitness, outdoor, and swimming. The decrease of the winter group stocks, in effect of deep sales in 2014, resulted in lowering the margin by 0.04 percentage points (from 39.3% in 2013 to 38.9% in 2014). However, ultimately the exchange of winter groups with all-year product groups will result in the increase of the profit margin.
b/. The selling area of certain stores was optimized. The Company has decreased the area of certain stores which have not generated the expected profit, at the same time opening 3 new stores in 2014. If effect of these activities the total selling area has not changed.
c/. The program aimed at decreasing the cost of conducting business activity in 2014 was continued, despite the opening of 3 new stores. The Company decreased the costs on operation by ca. PLN 740 k;
d/. The strategy of E-store and loyalty program for returning customers was implemented.
The detailed financial report for the year 2014 will be published on 20 March 2015, after the review of the certified auditor.
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