France · Delayed Price · Currency is EUR Fnac Darty Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 0.9% year-over-year in Q1 2026, with strong online and European sales and a 10 bps gross margin improvement. EP Group’s public tender offer at a 19% premium is supported by the board, and 2026 margin and cash flow targets are reaffirmed.
Fiscal Year 2025
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Revenue rose 0.7% to EUR 10.3 billion, with strong service and online growth offsetting weak French retail. Operating margin improved to 2%, and free cash flow reached EUR 145 million. The group launched its Beyond Everyday plan and received a takeover bid from EP Group.
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EP Group launched a cash tender offer for all shares at €36, supporting the Beyond Everyday plan and maintaining the dividend policy. 2025 revenue is stable at €10.3B, EBIT margin at 2%, with strong performance in Italy and a planned disposal of Nature & Découvertes.
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Q3 and nine-month sales grew, led by hardware recovery, online and services strength, and margin gains. Operating margin is set to rise to 2% in 2025, with strong Q4 expected despite macro headwinds. Portugal expansion and new omnichannel initiatives are underway.
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H1 2025 saw revenue rise to EUR 4.5 billion (+0.7% like-for-like), with strong online and service growth, improved gross margin, and successful UniEuro integration. Operating margin is expected to reach 2% for 2025, with robust liquidity and extended debt maturity.
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The group unveiled its 'Beyond Everyday' 2030 plan, targeting 4 million subscribers, a 3%+ operational margin, and €1.2 billion in free cash flow. Key pillars include service expansion, omnichannel transformation, and international growth, with strong sustainability and digital ambitions.
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The meeting reviewed strong 2024 results, approved a higher dividend, and highlighted the transformative acquisition of Unieuro, which expands international reach but brings short-term margin dilution. All resolutions, including board renewals and remuneration policies, were adopted.
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Q1 2025 revenue was nearly flat like-for-like, with gross margin up 60 bps pro forma and strong service growth. Unieuro integration is progressing, and 2025 operating income is expected to grow mid-single digit, excluding ticketing.
Fiscal Year 2024
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Sales grew 1% year-over-year with strong service and small appliance momentum, and gross margin improved by over 100 basis points in Q3. Guidance for recurring operating income was raised above EUR 180 million, and the Unieuro acquisition is expected to drive further value.
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H1 2024 saw resilient performance with revenue up 1.4% and all regions returning to growth in Q2. The planned Unieuro acquisition will boost turnover above €10 billion and reinforce European leadership, while 2024 guidance and financial targets are confirmed.