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Kingfisher plc Half year results Six months to 31 July 2026 22 September 2026
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2 Key messages Thierry Garnier Chief Executive Officer
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3 • +1.6% total sales incl. marketplace GMS • Screwfix standout LFL +5.6% • Trade and e-commerce both +16%(1) • Marketplace GMV +42%(2), £13.4m profit(3) Continued strong momentum of strategic growth drivers • Guidance upgrade based on H1 delivery • Building a stronger, more resilient Kingfisher • Committed to attractive shareholder returns Guidance upgraded – confident in continued delivery • GM expansion +70bps • Disciplined cost control • APBT +9.9%(4), +6.1% ex one-offs H1 solid profit delivery Kingfisher Half Year 2026/27 Results | September 2026 (1) Excluding Screwfix. (2) Marketplace GMV is the total transaction value (including VAT) from the sale of products supplied by third-party e-commerce marketplace vendors. (3) Marketplace retail profit contribution includes only directly attributable costs. (4) Before adjusting items. At reported rate. Includes £14m one-off business rates refund. Kingfisher delivers solid profit growth and upgrades guidance
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4 Kingfisher Half Year 2026/27 Results | September 2026 Financial review Bhavesh Mistry Chief Financial Officer
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5 Sales growing ahead of our markets Profit growing ahead of sales Strong free cash flow generation Kingfisher Half Year 2026/27 Results | September 2026 Solid profit and free cash flow delivery Adjusted EPS(3) 17.8p +16% Adjusted PBT(3) £404m +9.9% Free cash flow £339m Net leverage(4) 1.4x FY 25/26: 1.4x Sales incl. marketplace GMS(2) +1.6% Total sales(1) £6.9bn +0.7% (1) Variance in constant currency, excludes Romania. (2) Gross merchandise sales (GMS) refers to the transaction value (excluding VAT) from the sale of products including third- party e-commerce marketplace vendors. Variance in constant currency, excludes Romania. (3) Before adjusting items. Variance in reported rate. (4) Calculated as Net debt / Adjusted EBITDA.
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6 v Performance underpinned by resilient core and seasonal sales Kingfisher Half Year 2026/27 Results | September 2026 Underlying Group LFL sales (%) by category(1) Core 63% of sales and 73% of volume Broad-based growth in repair and maintenance Large building projects, tiling, painting impacted by heatwaves 14 consecutive quarters of growth in the UK (1) Adjusted for calendar impact (0.2)% in Q1 26/27, (0.2)% in Q2 26/27, (0.2)% in H1 26/27, excludes Romania. 14% of sales and 6% of volume Kitchen performance above market, driven by new ranges Bathroom underperforming: comprehensive range review ongoing 23% of sales and 21% of volume Growth in all banners in Q2 Strong performance of cooling, garden & leisure offsetting impact of heatwaves on plants, outdoor paint and fencing Big-ticket Seasonal Q1 Q2 H1 26/27 +0.8% +1.1% +0.9% Q1 Q2 H1 26/27 -4.2% -4.4% -4.3% Q1 Q2 H1 26/27 -2.8% +4.7% +1.5%
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7 /\ B&Q scaling marketplace; Screwfix significantly outperforms market Kingfisher Half Year 2026/27 Results | September 2026 Total sales (£m) Total sales (£m) UK & Ireland retail profit (£m) 10.1%9.7%Margin %(3) +40bps • Impact of heatwaves on footfall and core categories • TradePoint outperforming trade market • Total market share stable, gains in e-commerce • Marketplace GMV +34%, £12m profit(2) • Significant market share gains • High-quality volume growth • Strong core performance LFL +5.7% • 44% of sales from Rewards programme • Net +2 stores opened (1) Constant currency. (2) Marketplace retail contribution includes only directly attributable run costs. (3) Retail profit margin in reported rate. +4.9%(1) 1,358 1,452 H1 25/26 H1 26/27 344 361 H1 25/26 H1 26/27 2,170 2,123 H1 25/26 H1 26/27 Total sales including marketplace GMS (0.1)%(1) Total sales (2.3)%(1) LFL sales (2.9)% Total sales +6.9%(1) LFL sales +5.6% £14m business rates refund
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8 /\ 72 74 H1 25/26 H1 26/27 Kingfisher Half Year 2026/27 Results | September 2026 Castorama benefits from self-help; Brico Depot trade progress offset by heatwaves France retail profit (£m) 3.6%3.5%Margin %(2) +0.8%(1) • 4 quarters of sequential improvement • Revamped stores and new ranges perform well • Trade penetration +7pts • Marketplace now profitable • 2 stores transferred to franchise, 1 to Brico Depot • Impact of heatwaves on footfall and core categories • Strong trade sales +21%, 15% penetration • Extended bulk-buy range and trade brands • +3 net store openings incl. first franchise (1) Constant currency, includes impact from transferring 2 stores to franchise and 1 store to Brico Depot. (2) Retail profit margin in reported rate. +10bps Total sales (£m) 1,074 1,077 H1 25/26 H1 26/27 Total sales (£m) 974 959 H1 25/26 H1 26/27 Total sales (3.6)%(1) LFL sales (4.2)% Total sales (1.8)%(1) LFL sales (0.5)% LFL incl. GMS +0.4%
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9 • Marketplace GMV £38m +66% and profitable • Launched online store on Amazon offering 1,500 OEB SKUs • Retail media income +42% Kingfisher Half Year 2026/27 Results | September 2026(1) Timing and trajectory dependent on the pace of market recovery Castorama: strong progress on stores, ranges and strategic growth drivers • +10 pro zones rolled out, now present in all stores • New trade-focused ranges: >700 new 1P SKUs, >50 3P brands • +6 trade sales partners, new loyalty app for trade • Double-digit sales density improvement in right-sized stores • Profit contribution above estate average in revamped stores • On track to action additional 9 stores in H2 • 3rd franchise store announced • Reviewed ranges +5.1%, with wallpapers and power tools growing double-digit • Successful launch of Imandra 2 bathroom furniture range 24 stores actioned Reviewing 20% of ranges E-commerce +11% growth Medium-term France margin target of 5-7%(1) Trade penetration +6.5pts
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10 /\ /\ Kingfisher Half Year 2026/27 Results | September 2026 Poland and Iberia outperform markets; continued momentum at Screwfix France 6.0%5.4%Margin %(2) +60bps • Market outperformance • Kitchen outperformance from Design Points • Pro +14% driven by trade sales partners • E-commerce +39%, marketplace GMV tripled and break- even (1) Constant currency. (2) Retail profit margin in reported rate. (3) Refers to Northern France. (4) Only includes stores with >12 months of sales. Iberia Total sales (£m) Iberia retail profit (£m) • Market outperformance with strong price index • Trade sales +46% • E-commerce sales +25% • Opened first 2 stores in a decade 5.2%4.9%Margin %(2) +30bps Total sales (£m) 946 994 H1 25/26 H1 26/27 Total sales +3.6%(1) LFL sales +2.2% 51 60 H1 25/26 H1 26/27 Total sales +8.8%(1) LFL sales +7.7% 11 13 H1 25/26 H1 26/27 France • Awareness +5pts to 30%(3) • Customer traffic and spend growth • Trade penetration 54% • Opened +2 stores Poland retail profit (£m) +17%(1) Store sales LFL +48%(1) +16%(1) Poland 219 243 H1 25/26 H1 26/27 /\ 5 stores, opened Q4 22/23 4 stores, opened H1 23/24 11 stores, opened H2 23/24 10 stores, opened FY 24/25 39% 39% 42% 69% LFL growth by cohort(4)
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11 Opportunity ahead Solid profit delivery with adjusted profit before tax +9.9%(1) Kingfisher Half Year 2026/27 Results | September 2026 DC = Distribution centre GNFR = Goods not for resale GBS = Global business services (1) Variance in reported rate. (2) £4m adjusted profit before tax loss Romania in 2025/26 (Romania disposed in May 25), £8m adverse contribution to Group adjusted PBT in Turkey in 2025/26 in constant currency. (3) Including central and net finance costs. 16 2 40 44 14 368 404 H1 26/27 APBT H1 25/26 APBT FX & Turkey + Romania non- recurring losses 384 H1 25/26 APBT cc excl. PY non- recurring losses LFL at constant gross margin % LFL gross margin rate % (48) Operating cost inflation (30) Tech & other cost increases Operating cost reductions (2) New stores & new business 390 H1 26/27 APBT excl business rates refund Business rates refund £m (2) (3) Gross margin +70bps Strong performance of buying and sourcing, marketplace, support from FX tailwinds, Romania sale, partly offset by freight and trade Structural cost reductions DC space reduction, GNFR efficiencies and store operating model changes More buying and sourcing benefits, marketplace/ retail media growth, AI, supply chain optimisation Additional store and head office productivity, broader GBS utilisation, better GNFR and property negotiations
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12 Kingfisher Half Year 2026/27 Results | September 2026 £339m free cash flow FP&R = Forecast, planning and replenishment. (1) Other includes share-based payment compensation charge and movement in pensions. (2) Includes share purchases for employee incentive schemes and operating cash flows relating to adjusting items; partially offset by proceeds from the issue of new shares and the disposal of assets 784 339 (44) 5 Adjusted EBITDA Change in working capital (248) Net rent paid (31) Tax, interest & other (171) Gross capex Free cash flow (50) Adjusting & other (144) Dividends (189) Share buybacks H1 26/27 net cash flow £m (1) (2) Consistent capital allocation with strong returns to shareholders Investment in growth • +9 stores opened • +15% new ranges introduced • Increased technology investment • Rightsizing + supply chain initiatives Share buybacks 23% of shares bought back since 2021 £125m of 5th £300m buyback programme completed Commencing 3rd tranche of £50m Dividends Strong track record: £1.3bn paid since 2021 Interim dividend 3.8p per share Opportunity ahead Further inventory optimisation through minimum order quantities, lead times, vendor managed inventory and FP&R software
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13 Kingfisher Half Year 2026/27 Results | September 2026 Upgrading guidance reflecting H1 profit delivery FY 26/27 guidance Expected, barring unforeseen events £595m £565m £635m £625m Adjusted PBT Previous Updated £450m £510m Free cash flow Previous Updated Adjusted PBT Free cash flow £480m £520m
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14 Kingfisher Half Year 2026/27 Results | September 2026 Strategy update Thierry Garnier Chief Executive Officer
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15 Kingfisher Half Year 2026/27 Results | September 2026 Strong delivery across our strategic priorities Scale our digital ecosystemGrow our trade business Grow our banners and formats Win through offer, OEB and services
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16 27.9% H1 25/26 31.0% H1 26/27 1,013 1,074 905 1,053 H1 25/26 H1 26/27 1,918 2,127 Trade penetration by banner(1) Kingfisher Half Year 2026/27 Results | September 2026 Trade business now 31% of sales with progress in all banners Trade sales +16% excl. Screwfix Stores Range and Price People Loyalty and Apps Services Underpinned by key trade initiatives +16% excl. SFX Trade sales (£m) +3.1pts Group trade penetration 74% 28% 24% 23% 15% 9% Group excl. SFX SFX +1.6pts +0.8pts +5.6pts +2.6pts +5.5pts (1) Exit penetration rates July 2026 at constant currency. £5bn medium-term trade sales target
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17 +23% sales growth of TSP managed accounts(2) Kingfisher Half Year 2026/27 Results | September 2026 Making trade customers’ jobs easier Moving towards relationship-based customer growth with trade sales partners • TSPs in 58% of stores(1) • Provide bespoke service • Grow share of wallet • Drive adoption of services • 114 TSPs • 8,500 high-value customers • c.10% of TradePoint sales • Strong TSP recruitment pipeline • Investing in sales training • CRM to track customer pipelines • In-house trade credit solution Supporting trade professionals Driving incremental growth Scaling the model # TSPs across banners 105 279 438 FY 24/25 FY 25/26 H1 26/27 TSP = Trade Sales Partner (1) Excluding Screwfix (2) TSPs in role for at least 12 months +59% sales growth of TSP managed accounts(2) • 144 TSPs • 6,000 high-value customers • c.20% of trade sales
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18 1.8m 2.0m 2.2m 2.4m Sep-25 Dec-25 Mar-26 Jun-26 Kingfisher Half Year 2026/27 Results | September 2026 Screwfix Rewards programme drives 44% of total sales 2.3m+ active Rewards customers 79% of Rewards sales from 27% of customers • Store near me feature with local stock visibility • Personalised recommendations by trade type, brand affinity, local weather Reward sign-ups since launch 44% of total sales New features Personalised loyalty programme rewarding repeat customers Strong momentum Impact on sales +500k sign-ups
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19 Kingfisher Half Year 2026/27 Results | September 2026 Screwfix extending choice Vendor-to-store fulfilment for wider product choice, with no compromise on convenience Consignment model Vendor picks, packs and ships orders direct to store Maintains customer experience Same convenience, delivery and collection options Working capital light No inventory investment Potential to double VTS range by year-end, further scale in 2027 12k+ SKUs across UK sizes 2 to 16 70% of orders collected in store £12m sales in year 1 Partnership has validated vendor-to-store fulfilment model VTS = Vendor to store
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20 • In-store order preparation with digital hubs enabling better availability • Store preparation supporting speed and C&C • Technological improvements enhancing customer experience & conversion • High traffic supporting marketplaces 1P e-commerce • Strong online traffic presents attractive advertising opportunities for 1P and 3P vendors • Data enabling monetisation of performance insights to vendors Retail media • Offering customers broader product choice • Driving traffic and attracting new customers, with transference to 1P • Connected to store through in-store returns and click & collect 3P marketplace • Apps and loyalty programmes collecting valuable customer data • High-quality tech data lake since 2021 • Leveraging data for product recommendation and personalisation engines • Better customer interactions via virtual assistants and visual search technology Apps & data Traffic Conversion 1P 3P Retail media Profit Group digital ecosystem driving growth and profitability Agentic commerce • Enabling customers to find and purchase products more easily with our in-house AI agents • Ready to connect to agentic commerce Kingfisher Half Year 2026/27 Results | September 2026
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21 60% 20% 10% 8% 6% 4% E-commerce penetration by banner Kingfisher Half Year 2026/27 Results | September 2026 Scaling our digital ecosystem across banners E-commerce sales +16% excl. Screwfix Speed and Convenience Choice Loyalty and Apps Personalisation and AI Productivity Underpinned by key digital initiatives Retail media 19.9% H1 25/26 21.9% H1 26/27 804 865 597 690 H1 25/26 H1 26/27 1,402 1,555 E-commerce sales (£m) +2.0pts Group e-commerce penetration Group excl. SFX SFX +3.2pts +1.1pts +1pts +1.4pts -0.8pts 30% medium-term penetration target +16% excl. SFX
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22 Building e-commerce leadership through speed and choice Expanding category and vendor choice Complementary categories • Bathroom GMV +36% • Cooling GMV +200% • Television GMV +490% Cross-border vendors • 3.6% of GMV in H1 (+58%) • Average GMV +44% higher • +50 vendors currently onboarding 4.9m SKUs on B&Q marketplace >80 international vendors live • Digital hubs in 53 B&Q stores • c.600 merchants offer C&C • 10% of marketplace C&C customers go on to purchase a product in store Offering speed through hubs and click & collect +18% conversion when C&C enabled for 3P 92% 1P orders picked in store Kingfisher Half Year 2026/27 Results | September 2026GMV = Gross merchandise value C&C = Click and collect (1) B&Q marketplace retail profit contribution includes only directly attributable costs. Marketplace profit contribution £12m(1)
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23 • Launched content generation platform • Creates high-quality product content in minutes • Improves speed to market, search engine optimisation and conversion • Improves customer choice • Surfaces most competitive 3P offer • Launched at B&Q, Castorama France, Poland • Pioneering in-house conversational agents • Implementing voice capability for a simpler interaction AI adoption improving the online customer journey 130% higher conversion when customers use HelloCasto Implementing natural language search • Helping customers more easily and intuitively find products they need • Implementing Google’s Vertex AI search on our websites and apps • H2 rollout across banners Driving price competitiveness with Buybox Kingfisher Half Year 2026/27 Results | September 2026 Leveraging AI to enrich product information Leveraging in-house agents +16% growth in total recommendation-driven revenue
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24 Kingfisher Half Year 2026/27 Results | September 2026 OEB addressing customer needs for affordability and quality Targeted innovation in products and services New outdoor living range Better choice in bathroom More value in power tools • Imandra 2 with 7 new colours, 3 new designs • Better function and space utilisation • Outperforms category at Castorama France • Capitalises on growing outdoor living trend • New range of barbecues, garden furniture, outdoor kitchens and pergolas • Sales +8% in H1 • MacAllister / Titan range expansion • Best value, improved quality, longer runtime • Sales +11% since launch OEB = Own exclusive brands
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25 Confident in strategic momentum and continued delivery Poland £17bn TAM UK & Ireland £60bn TAM France £52bn TAM Grow our trade business Scale our digital ecosystem Grow our banners and formats Attractive growth drivers Clear financial priorities Sales to grow ahead of our markets Profit to grow ahead of sales Strong FCF generation Leading banners powered by Kingfisher Win through offer, OEB and services Iberia £21bn TAM Kingfisher Half Year 2026/27 Results | September 2026TAM = 2025 estimated total addressable market sizes
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26 Kingfisher Half Year 2026/27 Results | September 2026 Summary Guidance upgraded – confident in continued delivery Continued strong momentum of strategic growth drivers H1 solid profit delivery
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27 Kingfisher Half Year 2026/27 Results | September 2026 Q&A
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28 Kingfisher Half Year 2026/27 Results | September 2026 Appendix
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29 Surveys continue to underpin FY assumptions (1) Kingfisher home improvement pulse survey, August 2026 (UK, France, Poland). (2) Screwfix trade pulse survey, August 2026. Outlook on personal finances stable % of consumers thinking state of personal finances will get worse over the next 12 months(1) Future spend intent positive in the UK & Poland, recent improvement in France Net % of consumers intending to spend more on DIY vs spend less(1) Trade workloads broadly in line with last year 93% of UK tradespeople working(2) (-2%pts YoY) Business confidence improved significantly in August, returning to pre-summer levels 73% working and have more work to come(2) (-4%pt YoY) Kingfisher Half Year 2026/27 Results | September 2026 Poland UK France Future home improvement intent stable % of consumers intending to do a major home improvement project in the next 12 months(1) France UK Poland UK France Poland 31% 29% 41% 41% 28% 28% Aug-25 Aug-26 9% 2% 12% Aug-24 10% 2% 12% Feb-25 6% 1% 11% Aug-25 11% -1% 13% Feb-26 17% 0% 14% Aug-26 39% 40% 35% Aug-24 39% 46% 38% Feb-25 39% 43% 39% Aug-25 44% 45% 38% Feb-26 44% 45% 38% Aug-26
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30 Kingfisher Half Year 2026/27 Results | September 2026 T echnical guidance c.+1% sales uplift from net space growth Net finance costs c.£105m (FY 25/26: £91m) Adjusted effective tax rate c.26% (FY 25/26: 26%) CapEx c.£400m (FY 25/26: £388m) £13m non-recurring 2025/26 losses(1) Key assumptions (1) £4m ROP loss Romania in 2025/26 (Romania disposed in May 25), £9m ROP loss in Turkey in 2025/26
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31 Continuing our attractive capital allocation policy Invest in attractive growth opportunities Sustainable dividend growth Capital returns to shareholders Target cover range: 2.25x to 2.75x Progressive growth of dividends Surplus capital to be returned primarily via share buybacks Annual gross capex: c.3% of sales Growth opportunities with high ROCE aligned with strategic priorities Maintain financial resilience and an efficient balance sheet Solid investment grade credit rating (BBB, stable) Maximum net leverage over medium term of 2x (currently 1.4x) Maintain strong liquidity headroom (£800m target) Kingfisher Half Year 2026/27 Results | September 2026
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32 Kingfisher Half Year 2026/27 Results | September 2026 Disclaimer You are not to construe the content of this presentation as investment, legal or tax advice and you should make your own evaluation of the Company and the market. If you are in any doubt about the contents of this presentation or the action you should take, you should consult a person authorised under the Financial Services and Markets Act 2000 (as amended) (or if you are a person outside the UK, otherwise duly qualified in your jurisdiction). This presentation has been prepared in relation to the financial results for the 6 months ended 31 July 2026. The financial information referenced in this presentation is not audited and does not contain sufficient detail to allow a full understanding of the results of the Group. Nothing in this presentation should be construed as either an offer or invitation to sell or any offering of securities or any invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in any company within the Group or an invitation or inducement to engage in investment activity under Section 21 of the Financial Services and Markets Act 2000 (as amended) (or, otherwise under any other law, regulation or exchange rules in any other applicable jurisdiction). Certain information contained in this presentation may constitute "forward-looking statements" (including within the meaning of the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995), which can be identified by the use of terms such as "may", "will", "would", "could", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "plan", "goal", "aim", forecast, or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. These forward-looking statements are based on currently available information and our current assumptions, expectations and projections about future events. These forward-looking statements include all matters that are not historical facts and include statements which look forward in time or statements regarding the Company's intentions, beliefs or current expectations and those of our Officers, Directors and employees concerning, amongst other things, the Company's results of operations, financial condition, changes in global or regional trade conditions (including a downturn in the retail or financial services industries), competitive influences, changes in tax rates, exchange rates or interest rates, changes to customer preferences, the state of the housing and home improvement markets, share repurchases and dividends, capital expenditure and capital allocation, liquidity, prospects, growth and strategies, litigation or other proceedings to which we are subject, acts of war or terrorism worldwide, work stoppages, slowdowns or strikes, public health crises, outbreaks of contagious disease, environmental disruption or political volatility. By their nature, forward-looking statements are not guarantees of future performance and are subject to future events, risks and uncertainties - many of which are beyond our control, dependent on actions of third-parties, or currently unknown to us - as well as potentially inaccurate assumptions that could cause actual events or results or actual performance of the Group to differ materially from those reflected or contemplated in such forward- looking statements. For further information regarding risks to Kingfisher's business, please consult the risk management section of the Company's Annual Report (as published). No representation, warranty or other assurance is made as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements. This presentation has been prepared solely to provide additional information to shareholders to assess the Group’s strategies and the potential for those strategies to succeed. It should not be relied upon by any other party or for any other purpose. The forward-looking statements contained in this presentation are made in good faith based on information available to the Directors at the time of approval. However, such statements should be treated with caution due to the inherent uncertainties - both economic and business-related - underlying any forward-looking information. This presentation has been prepared for the Group as a whole and therefore places greater emphasis on matters significant to Kingfisher plc and its subsidiary undertakings when viewed on a consolidated basis. The forward-looking statements contained in this presentation speak only as of the date of this presentation and the Company does not undertake any obligation to update or revise any forward-looking statement to reflect any new information, change in circumstances, or change in the Company's expectations to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.
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Thank you.