TheWorks.Co.uk PLC (FRA:6EU)
€ 0.92 +0.025 (+2.81%) Market Cap: 57.66 Mil Enterprise Value: 149.25 Mil PE Ratio: 34.58 PB Ratio: 2.84 GF Score: 50/100

Preliminary Q4 2026 Works co uk PLC Earnings Call Transcript

Jul 23, 2026 / 12:30 PM GMT
Release Date Price: €0.89 (-0.56%)

Key Points

Positve
  • TheWorks.Co.uk PLC (LSE:WRKS) reported a significant improvement in financial performance, with a 47% increase in pre-IFRS 16 adjusted EBITDA to £14 million.
  • The company achieved a like-for-like sales growth of 3.3%, outperforming the non-food retail market.
  • The closure of the transactional website has allowed the company to focus on its profitable store estate, leading to improved financial results.
  • TheWorks.Co.uk PLC plans to open a net 10 new stores in FY27, with strong payback periods of less than two years for new store openings.
  • The company has successfully refinanced its banking facility, securing a new £20 million revolving credit facility through to November 2029, providing significant liquidity and flexibility.
Negative
  • The closure of the transactional website resulted in a £4.8 million loss before tax from discontinued operations.
  • The company faces challenges with higher payroll costs due to increases in the national minimum wage and national insurance.
  • There are concerns about the potential impact of higher freight costs on the company's P&L in FY27.
  • TheWorks.Co.uk PLC's store refurbishment is progressing slowly, with a significant portion of the estate still on old branding.
  • The company is undertaking a £6 million systems transformation program, which carries risks of overruns in time and budget.


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E D I T E D V E R S I O N

WRKS.L - Works co uk PLC
Preliminary Q4 2026 Works co uk PLC Earnings Call
Jul 23, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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I think it's important context to the story.

So The Works was originally established as a high street presence 45 years ago, initially as a discount book chain called Remainders Limited, selling clearance books. And over the next four to five years, we've evolved into the proposition that we've got today, which is a value retailer focused on selling four key product categories, being books, arts and crafts, stationery, and toys and games.

And we have been bringing that proposition together under affordable screen free activities for the whole family for about the last 18 months. And really that's all about connecting people with feel good ways to spend their time away from screens, something that we call time well
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