Theodoros Fessas increases stake in Fourlis to 12.76%

Theodoros Fessas, through Quest Participations and Tedinvest Limited, has increased his indirect voting rights in Fourlis S.A. to 12.76%. This follows a methodical accumulation of shares over the first seven months of 2026, rising from 5.05% in February to 10.53% in March, and reaching the current level by September.

This increase in stake occurs despite Fourlis reporting net losses of €1.7 million for the first half of 2026. While group sales rose 7.6% to €284 million, profitability was impacted by inflationary pressures and a challenging market environment in Romania. The company has been closing underperforming stores in Romania to optimize operations.

Despite the losses, Fourlis management has maintained its 2026 targets, aiming for sales of approximately €645 million and an EBIT of €15-17 million.