Kingfisher Plc · LSE:KGF
Kingfisher — H1 2026/27 Earnings Presentation
33 slides from Kingfisher's earnings presentation, Sep 22, 2026
Slide 1: Kingfisher plc Half year results
Kingfisher plc Half year results Six months to 31 July 2026 22 September 2026
Slide 2: Key messages
Key messages Thierry Garnier Chief Executive Officer 2
Slide 3: Kingfisher delivers solid profit growth and upgrades guidance
Kingfisher delivers solid profit growth and upgrades guidance • +1.6% total sales incl. marketplace GMS Continued strong momentum • Screwfix standout LFL +5.6% of strategic growth drivers • Trade and e-commerce both +16%(1) • Marketplace GMV +42%(2), £13.4m profit(3) • GM expansion +70bps H1 solid p
Slide 4: Financial review
Financial review Bhavesh Mistry Chief Financial Officer 4 Kingfisher Half Year 2026/27 Results | September 2026
Slide 5: Solid profit and free cash flow delivery
Solid profit and free cash flow delivery Sales growing Profit growing Strong free cash flow ahead of our markets ahead of sales generation Total sales(1) Adjusted PBT(3) Free cash flow £6.9bn +0.7% £404m +9.9% £339m Sales incl. marketplace GMS(2) Adjusted EPS(3) Net leverage(4) +1.6% 17.8p +16% 1.4x
Slide 6: Performance underpinned by resilient core and seasonal sales
Performance underpinned by resilient core and seasonal sales Underlying Group LFL sales (%) by category(1) Core 63% of sales and 73% of volume +0.8% +1.1% +0.9% Broad-based growth in repair and maintenance Q1 Q2 H1 26/27 Large building projects, tiling, painting impacted by heatwaves 14 consecutive
Slide 7: B&Q scaling marketplace; Screwfix significantly outperforms market
B&Q scaling marketplace; Screwfix significantly outperforms market UK & Ireland retail profit (£m) Total sales including Total sales (£m) marketplace GMS (0.1)%(1) 2,170 2,123 • Impact of heatwaves on footfall and core categories +4.9%(1) • TradePoint outperforming trade market Total sales (2.3)%(1)
Slide 8: Castorama benefits from self-help; Brico Depot trade progress offset by heatwaves
Castorama benefits from self-help; Brico Depot trade progress offset by heatwaves France retail profit (£m) Total sales (£m) Total sales (1.8)%(1) • 4 quarters of sequential improvement 1,074 1,077 • Revamped stores and new ranges perform well LFL sales (0.5)% • Trade penetration +7pts • Marketplace
Slide 9: Castorama: strong progress on stores, ranges and strategic growth drivers
Castorama: strong progress on stores, ranges and strategic growth drivers 24 stores actioned Reviewing 20% of ranges Trade penetration +6.5pts E-commerce +11% growth • Double-digit sales density • Reviewed ranges +5.1%, with • +10 pro zones rolled out, now • Marketplace GMV £38m +66% and improvement
Slide 10: Poland and Iberia outperform markets; continued momentum at Screwfix France
Poland and Iberia outperform markets; continued momentum at Screwfix France Poland retail profit (£m) Poland Total sales (£m) • Market outperformance +16%(1) 60 994 Total sales +3.6%(1) 51 946 • Kitchen outperformance from Design Points /\ • Pro +14% driven by trade sales partners LFL sales +2.2% •
Slide 11: Solid profit delivery with adjusted profit before tax +9.9%
Solid profit delivery with adjusted profit before tax +9.9%(1) Gross margin +70bps Structural cost reductions Strong performance of buying and sourcing, DC space reduction, GNFR marketplace, support from FX tailwinds, Romania sale, efficiencies and store operating partly offset by freight and trade
Slide 12: £339m free cash flow
£339m free cash flow Consistent capital allocation with strong returns to shareholders £m Investment in growth Dividends Share buybacks 5 • +9 stores opened Strong track record: £1.3bn paid 23% of shares bought back since • +15% new ranges introduced since 2021 2021 • Increased technology investment
Slide 13: Upgrading guidance reflecting H1 profit delivery
Upgrading guidance reflecting H1 profit delivery FY 26/27 guidance Expected, barring unforeseen events Adjusted PBT Free cash flow Adjusted PBT Free cash flow Previous £565m £625m Previous £450m £510m Updated £595m £635m Updated £480m £520m 13 Kingfisher Half Year 2026/27 Results | September 2026
Slide 14: Strategy update
Strategy update Thierry Garnier Chief Executive Officer 14 Kingfisher Half Year 2026/27 Results | September 2026
Slide 15: Strong delivery across our strategic priorities
Strong delivery across our strategic priorities Grow our trade business Scale our digital ecosystem Win through offer, OEB and services Grow our banners and formats 15 Kingfisher Half Year 2026/27 Results | September 2026
Slide 16: Trade business now 31% of sales with progress in all banners
Trade business now 31% of sales with progress in all banners Trade sales +16% excl. Screwfix Trade sales (£m) £5bn Group trade penetration Trade penetration by banner(1) medium-term +16% 2,127 trade sales +3.1pts 1,918 excl. SFX target 74% 1,053 28% +1.6pts 905 31.0% 24% +0.8pts 27.9% 23% +5.6pts 1,
Slide 17: Making trade customers’ jobs easier
Making trade customers’ jobs easier Moving towards relationship-based customer growth with trade sales partners Supporting trade professionals Driving incremental growth Scaling the model # TSPs across banners 438 +23% +59% 279 sales growth of TSP sales growth of TSP managed accounts(2) managed acco
Slide 18: Screwfix Rewards programme drives 44% of total sales
Screwfix Rewards programme drives 44% of total sales Personalised loyalty programme rewarding repeat customers New features Strong momentum Impact on sales • Store near me feature with local stock visibility 2.3m+ 79% 44% • Personalised recommendations by trade type, active Rewards of Rewards sales
Slide 19: Screwfix extending choice
Screwfix extending choice Vendor-to-store fulfilment for wider product choice, with no compromise on convenience Consignment model Partnership has validated vendor-to-store fulfilment model Vendor picks, packs and ships orders direct to store 12k+ SKUs 70% £12m Maintains customer across UK sizes 2 t
Slide 20: Group digital ecosystem driving growth and profitability
Group digital ecosystem driving growth and profitability 1P 1P e-commerce 3P marketplace Conversion • In-store order preparation with digital hubs • Offering customers broader product choice enabling better availability • Driving traffic and attracting new customers, • Store preparation supporting s
Slide 21: Scaling our digital ecosystem across banners
Scaling our digital ecosystem across banners E-commerce sales +16% excl. Screwfix E-commerce sales (£m) Group e-commerce 30% E-commerce penetration by banner penetration medium-term +16% 1,555 penetration excl. SFX +2.0pts target 60% 1,402 690 20% +3.2pts 597 10% +1.1pts 21.9% 19.9% 8% +1pts 804 865
Slide 22: Building e-commerce leadership through speed and choice
Building e-commerce leadership through speed and choice Expanding category and vendor choice Offering speed through hubs and click & collect 4.9m SKUs >80 +18% 92% conversion when 1P orders on B&Q marketplace international vendors live C&C enabled for 3P picked in store Complementary categories Cros
Slide 23: AI adoption improving the online customer journey
AI adoption improving the online customer journey Driving price competitiveness Leveraging Implementing Leveraging AI with Buybox in-house agents natural language search to enrich product information • Improves customer choice • Pioneering in-house • Helping customers more easily • Launched content
Slide 24: OEB addressing customer needs for affordability and quality
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 • Capitalises on growing outdoor living trend • Imandra 2 with 7 new colours, 3 new designs • MacAllister / Titan rang
Slide 25: Confident in strategic momentum and continued delivery
Confident in strategic momentum and continued delivery Leading banners Attractive growth drivers Clear financial priorities powered by Kingfisher UK & Ireland Grow our trade business Sales to grow ahead of our markets £60bn TAM France Scale our digital ecosystem £52bn TAM Profit to grow ahead of sal
Slide 26: Summary
Summary Continued strong momentum of strategic growth drivers H1 solid profit delivery Guidance upgraded – confident in continued delivery 26 Kingfisher Half Year 2026/27 Results | September 2026
Slide 27: Q&A
Q&A 27 Kingfisher Half Year 2026/27 Results | September 2026
Slide 28: Appendix
Appendix 28 Kingfisher Half Year 2026/27 Results | September 2026
Slide 29: Surveys continue to underpin FY assumptions
Surveys continue to underpin FY assumptions Outlook on personal finances stable Future home improvement intent stable 41% 41% 46% % of % of 45% 45% France consumers 31% 29% consumers 43% 28% 28% UK thinking state intending to do 40% 44% 44% of personal 39% 39% a major home finances will improvement
Slide 30: Technical guidance
Technical guidance Key assumptions 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) 30 (1) £4m ROP loss Romania in 2025/26 (Romania disposed in Ma
Slide 31: Continuing our attractive capital allocation policy
Continuing our attractive capital allocation policy Invest in attractive Sustainable dividend growth Capital returns to shareholders growth opportunities Growth opportunities with high ROCE Progressive growth of dividends Surplus capital to be returned primarily via aligned with strategic priorities
Slide 32: Disclaimer
Disclaimer You are not to construe the content of this presentation as investment, legal or tax advice growth and strategies, litigation or other proceedings to which we are subject, acts of war and you should make your own evaluation of the Company and the market. If you are in or terrorism worldwi
Slide 33: Thank you.
Thank you.