1H 2015


The Management Board’s comment to the results for the first half year of 2015.

The INTERSPORT Polska S.A. has worked out a gross profit at the level of PLN 1,335 thousand in the first half-year of 2015 (the last year’s amount for the same period being PLN 98 thousand), despite the revenues from YOY sales decreasing by 3.4 % (is: PLN 111,264 thousand, was: PLN 115,139 thousand). This is the best result in the Company’s history for the first half-year achieved through the primary activity of the Company (without one-time events). Cutting the operational costs of the Company and improving the margin have had an impact on the improved results. 

The Company’s success in the first half-year of 2015 was based on doubling the gross profit despite lower income (by 6.3 % YOY). The lower sales were primarily a result of the lower sale of winter assortment. A positive impact on the gross result in the first half-year chiefly resulted from: YOY-improvement of profit margin, cutting costs in comparable stores, and missing intense closeouts of skiing and snowboarding clothes and accessories. What is important is the fact that in the all-year product groups a growing sales tendency has been maintained, whilst reducing the stock of winter items YOY is observed.

In the second quarter of this year, with similar sales, the Company has reached a profit for the first time in its history. The changed stock policy introduced by the President in the form of increasing the all-year assortment in general sales whilst cutting costs through optimisation of the store areas have brought the desired effects.

In comparison to the same period of the last year, the biggest dynamics of sales in the first half-year of 2015 have been noted in the following product groups: fitness training, multisport attire and sport footwear. Moreover, a positive effect on the Company’s results was also caused by: (1) increase of an average receipt as far as the quantity as well as the value reached in the stores are concerned and (2) the development of theme corners, that, positively received by clients. 

In the first half-year of 2015 the INTERSPORT Polska S.A Network extended, on good financial terms, rental agreements of its stores in Bytom (Atrium Plejada Shopping Center) and Poznan (M1 Shopping Center). In July the Company executed Annexes prolonging the Rental Agreements of the stores in Kraków (Galeria Krakowska) and Katowice (CC Silesia), as well as a rental agreement for a new INTERSPORT store of the area of 758 m2 in the “Zielone Arkady” shopping Center in Bydgoszcz, which is planned to start operations in the IV quarter of 2015.

THE MANAGEMENT BOARD OF INTERSPORT Polska S.A.



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