Card Factory Plc · LSE:CARD
Card Factory — FY26 Earnings Presentation
38 slides from Card Factory's earnings presentation, Apr 28, 2026
Slide 1: Creating celebrations for all life's moments
Creating celebrations for all life's moments Card Factory plc FY26 Preliminary Results 28 April 2026
Slide 2: Agenda
Agenda Introduction Darcy Willson-Rymer FY26 Financial performance & Matthias Seeger FY27 outlook Strategy update Matthias Seeger Darcy Willson-Rymer Summary Darcy Willson-Rymer Q&A Darcy Willson-Rymer Matthias Seeger 2
Slide 3: Introduction
Section 1 Introduction Darcy Willson-Rymer, CEO 3
Slide 4: FY26 overview
FY26 overview Continued strategic progress in a challenging consumer environment £582.7m Total Group revenue growth of +7.4%, supported by new store openings and positive financial Revenue contributions from acquired businesses. +7.4% Further progress on evolving the business into a celebration dest
Slide 5: FY26 financial performance & FY27 outlook
Section 2 FY26 financial performance & FY27 outlook Matthias Seeger, CFO 5
Slide 6: FY26 financial summary
FY26 financial summary Revenue Adj. PBT £582.7m £56.0m (FY25: £542.5m) (FY25: £66.0m) +7.4% group revenue growth +£40.2m -£10.0m Strong cash generation and disciplined capital allocation Free Cash Adj. EPS Flow Containing inflation through benefits of 11.8 pence £40.7m ‘Simplify & Scale’ programme (
Slide 7: Top line revenue growth underpinned by inorganic growth
Top line revenue growth underpinned by inorganic growth +7.4% year-on-year growth Total cardfactory sales growth of +7.4%. Stores Wholesale Digital +1.4 ppts +4.6 ppts +1.4 ppts Stores +1.5% growth YoY underpinned by £582.7m expansion of estate, flat LFL sales: £542.5m • UK affected by low consumer
Slide 8: UK stores facing a challenging UK consumer backdrop in H2
UK stores facing a challenging UK consumer backdrop in H2 UK Stores H2 PBT Performance FY26 profitability was impacted by a challenging UK consumer backdrop in the second half of the year. Weakening consumer sentiment during the year and lower disposable incomes resulted in lower footfall and a redu
Slide 9: Group profitability impacted by H2 UK stores with progress in other businesses
Group profitability impacted by H2 UK stores with progress in other businesses Group Adjusted PBT UK stores performance driven by consumer dynamics during the second half. 66.0 Good year on year profit improvement from Digital and Wholesale Partnerships: • Digital performance reflects closure of Get
Slide 10: Continuing to build our profitable core store estate
Continuing to build our profitable core store estate Store Net New Revenue Stores Core store estate remains highly £514.6m +27 profitable and cash generative. (FY25: £506.8m) (FY25: +32) FY26 total store sales growth of +1.5%. 1,117 store estate, (+27 net new openings in FY26). Average LFL in UK sli
Slide 11: Containing inflation through self-help measures
Containing inflation through self-help measures ‘Simplify & Scale’ Structured multi-year programme £60m+ inflation (4-5% p.a.) absorbed and offset over last three years. Efficient Range incl Pricing £21m of actions delivered in FY26, mitigating significant majority Efficient of inflationary pressure
Slide 12: Strong free cash flow generation
Strong free cash flow generation Free Cash Target Conversion Conversion 99% 70-80% 77.9 (FY25: 59%) Strong cash performance with £40.7m -19.4 free cash generation: -6.2 0.4 40.7 • 99% conversion of Adjusted earnings £’m -12.0 to free cash. • Significantly improved year-on-year due to working capital
Slide 13: Maintaining a strong balance sheet
Maintaining a strong balance sheet Adjusted Target Leverage Leverage 1.0x <1.5x (FY25: 0.7x) 27.4 67.9 58.9 Strong cash performance with £40.7m free cash generation. 5.0 £’m 17.2 Funky Pigeon acquisition £25.7m plus costs, funded by extending existing debt facilities. 18.2 -40.7 Net debt, excluding
Slide 14: cardfactory's approach to generating attractive returns for our shareholders
cardfactory’s approach to generating attractive returns for our shareholders Capital Allocation Policy Mid-term targets Key drivers Maintain a strong Mid-single digit % sales Store LFL New store Online/ growth per annum growth growth Partnerships balance sheet Mid-to-high single digit Invest to deli
Slide 15: Commitment to sustainable, progressive dividends and returning surplus cash to shareholders
Commitment to sustainable, progressive dividends and returning surplus cash to shareholders FY26 total dividend Total cash return of £37.5m to shareholders for FY26 5.0p (FY25: 4.8p) Total dividend, 5.0 pence / £17.5 million • Interim dividend of 1.3 pence per share / £4.5 million paid in December 2
Slide 16: Outlook for FY27
Outlook for FY27 Total Group sales, excluding the incremental benefit of Funky Pigeon, through the first three months of the financial year have been in line with the same period in the prior year. Cognisant of the Middle East conflict and its potential for impact on input costs and uncertainty in r
Slide 17: Strategy Update
Section 3 Strategy Update Darcy Willson-Rymer, CEO Matthias Seeger, CFO 17
Slide 18: Strategy update
Strategy update The markets – Where we operate Matthias Seeger Progress over past three years Matthias Seeger Our strategy – How we win Darcy Willson-Rymer - Becoming a celebration destination - Evolving into an omnichannel retailer - Expanding internationally 18
Slide 19: The UK celebration occasions market opportunity
The UK celebration occasions market opportunity Resilient growth in gifts and celebrations markets • Our market is the celebration Greeting Gifts Celebration occasions market, spanning card, gift cards essentials and celebration essentials. • The celebrations market is highly Cards that help custome
Slide 20: UK celebration occasions market category progress
UK celebration occasions market category progress Gifts Celebration Greeting essentials cards Total gifting is largest component UK market estimate Resilient UK market • £19.2 billion • £1.5 billion • £1.6 billion • 32% purchased online • 26% purchased online • c.10% card sold online Robust category
Slide 21: Growing into a leading celebrations group in the UK
Growing into a leading celebrations group in the UK Building on cardfactory’s current market strengths Gift & celebration Gift & celebration essentials essentials addressable market cardfactory growth 60% 1-2% annual Targeting similar 24m UK adults shop growth from growth ahead Unique store with FY2
Slide 22: Strong progress across focus areas as we execute our growth strategy
Strong progress across focus areas as we execute our growth strategy Expanding UK & Republic of Transforming from a card- Becoming an Ireland store estate with +85 net specialist to a celebration omnichannel and new stores, now totalling 1,117 occasions destination international retailer Stores in U
Slide 23: Progress against 'Opening Our New Future' strategy over past 3 years
Progress against 'Opening Our New Future' strategy over past 3 years Sales increased by +26% £97m of Free Cash generated On track to grow sales in line (CAGR of +7.9%) with strategic priorities within Sales (£m) Free Cash (£m) our ‘Opening Our New Future’ 583 strategy. 511 543 41 463 27 29 Profit gr
Slide 24: Strategy update
Strategy update Our strategy – How we win Darcy Willson-Rymer - Becoming a celebration destination - Evolving into an omnichannel retailer - Expanding internationally 24
Slide 25: Our building blocks of growth
Our building blocks of growth Increasing our 1 share of the celebrations market Reaching 2 more customers Unlocking 3 international opportunity 25
Slide 26: Being the destination for celebration occasions in UK & Republic of Ireland
Being the destination for celebration occasions in UK & Republic of Ireland The Opportunity Strategy Increase share in celebration • Grow leadership position in cards through occasions market value leadership and range. • Share of wallet for celebration • Build share in celebration essentials, occas
Slide 27: Being the destination for celebration occasions in the UK & Republic of Ireland
Being the destination for celebration occasions in the UK & Republic of Ireland Ambition for FY28 Progress to Date Plan for FY27 onwards • Increased store network: • Expand store network at similar • Expansion of store • 1,032 (FY23) to 1,117 (FY26). rate as past three years. estate into further und
Slide 28: Expanding customer reach – Digital
Expanding customer reach – Digital The Opportunity Strategy Card & attached gift • Omnichannel retailer enabling consumers to shop value driven celebration offer. • Digital represents c.10% of cards sold (15% of value) in the UK (c.£200m). • Grow digital business with two brands: • Attached gifting
Slide 29: Expanding customer reach – Digital
Expanding customer reach – Digital Ambition for FY28 Progress to Date Plan for FY27 onwards • Bring the best of Funky Pigeon • Targeting double- • Acquisition of Funky and cardfactory together in one digit growth over the Pigeon in August 2025. digital business: medium term. • One supply chain. • Gr
Slide 30: Expanding customer reach – International and wholesale partnerships
Expanding customer reach – International and wholesale partnerships The Opportunity Strategy Status • £80bn - Global • Partner with retailers as • Successful delivery of full-service model addressable wholesale supplier of cards and with The Reject Shop in Australia. market for other celebrations pr
Slide 31: Expanding customer reach – North America
Expanding customer reach – North America Ambition for The Opportunity Progress to Date Plan for FY27 FY28 onwards • US is largest greeting cards • Acquisition of Garven completed in • Move from test & • Targeting 1-2% share market in the world: December 2024 provides local learn to activation of add
Slide 32: A compelling opportunity
A compelling opportunity Reaching more customers, in more Increasing our share of the Leveraging our vertically integrated locations, through our channels £14.9 billion UK celebration model to drive efficiency and and markets. occasions market. lowest cost to operate. • New store open rate to contin
Slide 33: Summary
Section 4 Summary Darcy Willson-Rymer, CEO 33
Slide 34: Summary
Summary Topline growth and strategic progress continued in a challenging environment. Acquisition of Funky Pigeon completed accelerating digital strategy. Strong cash performance with ‘Simplify & Scale’ programme successfully containing inflation. Progressive dividend and £15 million share buyback p
Slide 35: Q&A
Section 5 Q&A Darcy Willson-Rymer, CEO Matthias Seeger, CFO 35
Slide 36: cardfactory
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Slide 37: Appendix – Mid-term targets
Appendix – Mid-term targets Financial Performance Mid-to-high-single-digit 70-80% conversion of Mid-single-digit % % Group Adjusted PBT Adjusted earnings to Group revenue growth growth Free cash Capital Allocation £20-25 million annual Adjusted Leverage Progressive regular capital expenditure <1.5x
Slide 38: Appendix – Technical Guidance
Appendix – Technical Guidance Energy & currency Electricity and currency requirements are hedged across a three-year rolling window, subject to minimum and maximum limits in each year. Currency requirements hedging for FY27 are fully hedged at rates slightly favourable to those achieved in FY26. Our