- Intersport recorded a net loss of PLN 39.58 million in the financial year from April 2023 to March 2024, compared to a loss of PLN 13.11 million a year earlier. The operating loss amounted to PLN 45.25 million, compared to a loss of PLN 10.04 million a year earlier.
- Revenues in the previous financial year amounted to PLN 189.08 million compared to PLN 239.46 million in the same period a year earlier.
- In 2023, the majority stake in Intersport was acquired by Gereg Epicentr, owned by Ukrainian billionaire Galyna Fyodorovna, and Cypriot Paravita Holding Limited.
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Intersport increases share capital
What's next for Intersport?
It seems that Intersport's future is in the hands of its shareholders.
and new investors. This is not the first general meeting with such an item on the agenda – also in March this year Intersport asked shareholders about the prospects for the company.
In September this year, shareholders will also consider the financial report, vote on granting discharge to the management board and supervisory board, and decide how to cover the loss for the financial year from April 1, 2023 and ending March 31, 2024.
The company's president does not lose optimism.
With the support of strategic investors and a comprehensive development plan, Intersport Polska is well-positioned for dynamic growth in the coming years. Our strategic initiatives, combined with the resilience and commitment of our team, provide a solid foundation for lasting success. We remain optimistic about our growth and development potential, supported by our partnerships with leading brands in the industry, a supportive strategic investor and our solid plans for the future – wrote Aivars Bunde, CEO, in a letter to shareholders.
Intersport closes stores
Does the chain really have reason to be optimistic? It is clear that it is taking steps to optimize costs and close unprofitable stores. In Warsaw, stores in the Westfield Arkadia, Złote Tarasy and Atrium Promenada shopping centers have been closed. Stores in Szczecin and Zakopane and Częstochowa in Galeria Jurajska are no longer operating.
Intersport currently has 22 branches. The company has been listed on the Warsaw Stock Exchange since 2006. Over 51 percent of shares are controlled by Paravita Holding, the second largest shareholder, with a package of over 14 percent of shares, is OTCF, the owner of the 4F brand.
