D. Other: Bumi (Attica): The 15m-euro investment plan for the next three years

The department stores will continue in 2025 , with the remaining 15m euros for the next three years, from an investment plan of a total of 40m euros launched in 2021 and completed in 2027. In particular, the investments of the department stores attica amounting to EUR 15 million concern the company’s existing facilities and electronic store. “There will be a very important upgrade to the so-called cash system, as well as an introduction of a CRM program (for the customer’s personalised experience). We have a few more renovations, which are to be done, and I say a few because the others have been completed,” said the CEO of the department stores attica, Demosthenes Boumis, yesterday (28.11.2024) at a journalistic event. He added that: “In the City link all floors, except one floor, that will be done next year. So we are talking mainly about renovations in existing stores, important development on the online track and our technological infrastructure. It does not concern new extensions to new projects either the Greek or some other points that may interest us.” In their plan is the opening of restaurants within the department stores, according to the CEO of attica, but not expansion outside Greece, because they wish to improve their performance in the existing facilities. “We always look at new areas. Development dynamics are always on the table, now when it will be implemented and whether it will be implemented depends on the data,” said the President of the Board of department stores attica, Panagiotis Kanellopoulos. It is worth noting that over the last four years investments of more than EUR 25 million have already been made, while only in 2024 EUR 6.5 million were allocated to renovations and commercial changes in department stores operating in City link, Golden Hall and Mediterranean Cosmos. The 35,500 sq.m. reached the flag ship store of attica in the center of Athens. the City link, with the extensions made. Uphill path for department stores attica “Our prediction is that we will continue at the same pace,” said Mr. Boumis about the economic development of the department stores attica. The company’s retail sales increased by 10% in the first quarter of 2024, compared to the corresponding period of 2023, reaching 179.6m euros. At the same time, its operating profitability (EBITDA). The company amounted to EUR 19,2 million in the first quarter of 2024, showing an increase of 15.7% compared to the corresponding period of 2023. November and December are very important months for how sales of department stores will go, according to Mr. Boumi, who stressed that the aforementioned months for all department stores, active in the field of fashion and beauty, “from today that is the pre-stay of Black Friday until the end of the year, have a very heavy (20% – 25%). Last year was 25% for us and we had gone extremely.” It is noted that attica department stores serve more than 5 million customers annually and host more than 1,000 top brands and 1 million products in the natural stores. Tourism has had a positive effect on us, because it helps the sales numbers a lot, according to him. “In recent years we have seen too many nationalities in Athens, and in Attica that buy products from us. In 2019 we sold much of our products to Chinese, while now to Israelites, Turks, Chinese, Australians, Americans, Egyptians, Saudis etc.” At 21% the tax free goes up for this year’s quarter, while the total turnover is 10.5%. “I would say that the tax free is rising faster than the Greeks, but both are rising,” commented Mr. In addition, he pointed out that “our performance this year (at the level of turnover and EBITDA) is very good. In fact we are better than our expectations in the estimates we had made last year and it seems that we will overcome the goals we had set.” Sales distribution between cosmetics and clothing Leading position in the field of selective cosmetic distribution preserves the digital store of attica department stores, attracting 11.4 million visitors annually and having more than 30,000 product codes. 80% of Attica’s sales concern fashion and 20% cosmetics. In the fashion category is first the men’s clothing with 22%, while women’s clothing is lower, at 18%. At 11% are accessories (bags), 10% footwear and 5% sports items.