Full Year 2026 Kingfisher PLC Earnings Call Transcript
Key Points
- Kingfisher PLC (KGFHF) achieved strong market share gains across the UK, France, and Spain, with maintained share in Poland.
- The company reported double-digit growth in both trade and e-commerce sales, with marketplace sales reaching £518 million, up 58% year-on-year.
- Gross margin increased by 80 basis points, driven by effective sourcing and marketplace contributions.
- Kingfisher PLC (KGFHF) completed a £300 million share buyback program and announced a new one, alongside maintaining a dividend of 12.4p per share.
- The company demonstrated strong free cash flow generation of £512 million, supported by disciplined working capital management.
- The French market experienced a decline of around 3%, impacting overall performance despite outperformance by Kingfisher PLC (KGFHF)'s banners.
- Poland faced a slow start to the year due to unfavorable weather and political uncertainty, affecting home improvement spending.
- The company anticipates mixed effects on gross margin from growing trade penetration and maintaining competitive prices.
- Kingfisher PLC (KGFHF) is mindful of heightened macroeconomic and geopolitical uncertainty, which could impact energy and freight costs.
- Despite strong performance, the company faces challenges in maintaining growth amidst a mixed consumer environment and tough market conditions.
Good morning and thank you for joining us today for Kingfisher's full year results presentation.
Bash and I will take you through our full year results, our outlook for the coming year, and provide an update on our key strategic initiatives. Following this presentation will be the usual Q&A. So let's start with the key messages.
2025 was a strong year for Kingfisher.
As we continue to execute our strategy at pace and delivered on all our financial priorities, and there are 3 points I want to highlight. First, our strategic growth initiatives are driving market share gains, a key indicator of our progress.
We grew market share across each of our banners in the UK, France, and Spain, and maintained share in Poland.
Our sales growth was high-quality led by growth in volume and transaction. We delivered double-digit growth in both trade and e-commerce sales during the year. While our 1% commerce sales were strong. I am particularly pleased with our progress in our marketplaces,
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