DFS Furniture plc (DFS) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.720 Okay, good morning, everyone, and welcome to the DFS Group 2025 results presentation. 00:00:05.720 -- 00:00:10.867 I'm Tim Stacey, Group CEO. I'm here with Marie Wall, our interim CFO, and together 00:00:10.867 -- 00:00:16.115 we'll update you on our FY25 performance, provide a strategic update, and 00:00:16.115 -- 00:00:18.716 a future outlook. 00:00:18.759 -- 00:00:22.625 So I'll now provide an overview of the key headlines before handing over to Marie to 00:00:22.625 -- 00:00:25.086 discuss the financials. 00:00:25.765 -- 00:00:31.033 So I'm pleased to report that FY25 was a year where we accelerated our momentum 00:00:31.033 -- 00:00:35.961 by focusing our energies and our efforts on what we can control, so relentlessly focusing 00:00:35.961 -- 00:00:39.864 on executing against our strategy. 00:00:39.947 -- 00:00:44.675 Our customer propositions are in great shape across both our DFS and Sophology retail 00:00:44.675 -- 00:00:50.184 brands, leading to strong group order intake growth of up 10% year on year 00:00:50.184 -- 00:00:53.457 and continuing to grow our market share. 00:00:53.457 -- 00:00:57.781 We have focused on our operational execution and continue to make progress here, with 00:00:57.781 -- 00:01:03.266 our gross margins up 70 basis points year on year to 56.5%, 00:01:03.266 -- 00:01:08.349 as we target our return to a pre-pandemic average of 58%. 00:01:08.591 -- 00:01:13.736 We've achieved a further £25 million of sustainable cost savings in FY25, 00:01:13.736 -- 00:01:18.801 which means, cumulatively, we have now surpassed our £50 million annual savings target, 00:01:18.801 -- 00:01:21.098 a year ahead of expectations. 00:01:21.098 -- 00:01:26.727 The group now has a more efficient cost base to improve profitabil...