Intersport S.L. will be raising up to €8 million in capital through the sale of up to 800,000 new shares with a nominal value of €10 apiece, as announced in Spain’s Commercial Registry. The company made the decision at an extraordinary general meeting on Sept. 17.
Intersport S.L. is the parent of Intersport CCS, both headquartered in Sant Cugat del Valles, Barcelona province. According to CMDsport, Intersport S.L. is expecting a single investor to provide more than half of the €8 million and thereby acquire one of the largest shares in the company.
Earlier this summer, at a general meeting on July 26, Intersport CCS decided on a simultaneous increase and decrease of capital. The increase was for up to €300,000, through the issuing of 30 million new shares at a nominal value of €0.01 apiece. The decrease was of €675,375.87, through the amortization of 67,537,587 shares held by the company itself.
Intersport Spain has had economic difficulties for some time. In 2023, the company raised €600,000 in new capital, and in March 2024, the CEO was removed and replaced by two other key persons from Intersport. The new lead, one is the President of Intersport Pedro Ferrer, stepped in to make sure Intersport Spain follows the three-year strategic plan for 2024–27.
Earlier this summer, in June, CMDsport heard from several of the company’s retailers that Intersport Spain was in a “very delicate” situation. Figures for the full year 2022 came in at the start of 2024 and are the latest to be disclosed publicly. According to CMD, revenues for 2022 rose year-on-year by 4.9 percent to €22.6 million, but profits collapsed from €1.1 million to €59,834 and gross operating profit from €2.15 million to €389,325.
Combined annual revenues for the three companies that comprise Intersport Spain – Intersport CSS, Intersport S.L. and Intersport Retail One – have yet to recover from the lockdowns. From 2018 to 2022, according to CMD, they have amounted to the following: €122.4 million, €121.6 million, €79.1 million, €90.0 million and €95.0 million.
