At the General Shareholders Meeting of  INTERSPORT Polska held on 13.06.2014 Mr. Mateusz Klag, representative of the Company’s shareholder EKO-SERVICE, Limited Liability Company, limited partnership with the seat in Chrzanów, took the floor during the ”All Other Business” part of the assembly, posed the question:

1. On the future of the Company regarding further growth of the number of stores and planned  closures of certain stores:
The President of the Management Board of INTERSPORT  Polska S.A. responded indicating that each single location is evaluated separately. The activity of the so-far locations will be analyzed as far as profitability and effective use of the store area are concerned. Further, we will initiate activities aimed at optimization of the used area and negotiate more favourable terms of rental. The President of the Board declared that he also considers the possibility of launching new locations.

2. Then Mr. Mateusz Klag asked what profits the planned re-organization would bring in terms of cost effectiveness?
The President of the Board, Mr. Artur Mikołajko pointed out that total floor area of stores remains the same (the stores floor area has been diminished) and at the same time new stores were opened. Additionally, costs of electricity used were decreased which, only last year, enabled the savings of PLN 1,000,000.00. 

3. Another question: The Company’s revenue in 2014 increased however the costs increased even more. Is it perhaps related with, for example, organization of promotions which directly influences the margin?
Reply: The Company started promotion of goods purposefully, in order to improve the financial liquidity on annual scale. What is important is the fact that the sale of stocks will allow to get rid of the old stocks in the first quarter which in turn will enable selling new stocks with high margin in the fourth quarter.

4. The final question: Is the Company able to gain profit in the second and third quarters?
The Management Board is of the opinion that the policy of developing the sales of all-year product categories and their best possible sale is aimed at achieving such results. In order to do so, the Company has optimized product groups – the sale of all-year products grows all the time which resulted in the increase of sale in April and May 2014.

• List_of_shareholders_owing_at_leat_5procent_of_the_total_numer_of_shares.pdf
• Resolutions_adopted_at_GSM_2014-06-13.pdf
• ARTICLES_OF_ASSOCIATION_OF_A_JOINT-STOCK_COMPANY_2014-06-13.pdf