Global Fashion Group (GLFGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Global Fashion Group's Q4 and full year 2025 results presentation. I'm Krzysztof Wasiewicz, CEO of GFG, and I'm joined today by our CFO, Helen Higman. I'll start today with an update on the strategic actions we have executed over the past three years, followed by an overview of our 2025 regional performance. Helen will cover results for the group and the outlook. Then we'll open it up for Q&A. To start, I want to briefly remind you of what underpins GFG's long-term potential. We hold leading positions across large fashion and lifestyle markets where online penetration continues to increase over time. We serve these markets with a tailored, customer-centric approach that reflects local needs, and we maintain strong relationships with both global and grow in complex markets. We also have a unique operational footprint, supported by proprietary technology and scalable infrastructure, which enables us to deliver fashion-specific customer experience efficiently at scale. With these foundations in place, we are on track to deliver profitable growth and positive cash flow across our markets. And we do so from a position of financial strength with a healthy balance sheet and a substantial net cash position. This long-term potential is underpinned by the work we have done to reset and strengthen the business. Looking back to 2022, two main events have shaped the challenges our business has had to navigate over the past three years. One, a difficult post-COVID macroeconomic and fashion e-commerce environment that significantly depressed consumer demand and led to a decline in our active customer base and order volumes. And two, the sale of our CIS business due to the Russian invasion of Ukraine, which significantly reduced the scale and p...