Kingfisher plc (KGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I will then update you on the progress being made against our key strategic objectives, including our plan for France, before we open up for Q&A. So there are four key things I want to highlight about our performance. And first is market share. We see this as a key indicator of our progress beyond the macroeconomic trends. And I'm pleased with our performance here. Kingfisher delivered market share gains in the UK and Ireland, in France and in Poland in the year. That market share growth is being powered by our group's strategic initiatives and strong execution against our plans. Point number two, we have seen strong delivery in two key areas of the group strategy, trade and e-commerce. Our trade sales penetration is up 4.9 points to 17.9%, supported by the development of our trade proposition in all banners. Group e-commerce sales penetration is now 19% compared to 8% in 2019, partly driven by our successful marketplaces, which are now live in all markets. These are two group-led strategic initiatives that we successfully implemented in the UK first. They are the blueprint for Kingfisher's strategy, and we are now actively rolling out this recipe of success to all our other markets. And you will see this demonstrated across today's presentation. At the same time, we are accelerating our restructuring plan at Castorama France. By the end of this financial year, we'll have completed, or been in the process of completing, works on 24 low-performing stores. With our financial performance, we stayed disciplined against the challenging market backdrop. Our adjusted profit before tax and free cash flow was in line with or ahead of the initial guidance we set last year. And we have a strong grip on the operational levels of our business. Gross margin was up 50 basis points....