Fnac Darty Sa Ord (GRUPF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to this conference call presenting the Q3 performance of NAGDARTI. Without further ado, handing over to Jean-Pierre Le Tignier, CFO of the group. Thank you. Good evening, everyone. Thank you for joining our conference call to discuss our results for Q3 and the first nine months of 2025. This evening, I am joined by our investor relations team, Dominique Vielle and Laura Parizeau. I will begin by presenting our results, and then we will take your questions. I would like to remind you that we are commenting on like-for-like figures, in other words, excluding changes in scope, store openings and closures, and, of course, including uni-euro and after the deconsolidation of the ticketing business. Slide 3 shows the key figures for the first nine months of 2025, which I will detail throughout this presentation. Our sales revenue is up 1.6% on a like-for-like basis for the quarter, bringing the performance at the end of September to plus 1%. This strong performance is mainly due to a return to growth in hardware during the back-to-school period, solid growth in online sales, and, of course, continued strong momentum in our services segment. Our gross margin improved over the first nine months of the year, up 50 basis points. Finally, given these strong results, we confirm our guidance for EBITDA margin growth as communicated in our 2025 half-year results. Let's move on to slide four. I will now comment in detail on the growth of 1.6% for the quarter and plus 1% for the first nine months of the year. By category, the trends are broadly similar across all our geographic areas. Services continue to grow and are showing solid growth in most of the geographies, driven by the development of our subscription offers and, in particular, the rollout of Darcy Max and Fnac Vigi...