Kingfisher plc (OTCQX:KGFHF) Q4 2023 Results Conference Call March 25, 2024 5:00 AM ET Company Participants Majid Nazir - Investor Relations Thierry Garnier - Chief Executive Officer & Executive Director Bernard Bot - Chief Financial Officer & Director Conference Call Participants Warwick Okines - BNP Paribas Ami Galla - Citi Izabel Dobreva - Morgan Stanley Kate Calvert - Investec Grace Gilberg - Jefferies Richard Chamberlain - RBC Capital Markets Adam Cochrane - Deutsche Bank Thierry Garnier Thank you, Maj ...

Financial Data and Key Metrics Changes - Total sales in constant currency decreased by 0.7% to £13.1 billion, reflecting resilient performance against strong prior year comparatives [11] - Adjusted profit before tax (PBT) decreased by 20.2% to £758 million, which is still 39% higher than 2019 levels [12][9] - Free cash flow was negative £40 million, primarily due to working capital impacts, but total liquidity remains strong at over £800 million [13][27] - Gross profit margin decreased by 70 basis points year-on-year, with a notable decline in H1 but flat in H2 at 36.8% [12][13] Performance by Business Lines - In the UK and Ireland, like-for-like sales were down 6.9% for the year, but up 15.3% on a 3-year basis, with total sales decreasing by 4.7% to £6.2 billion [14][15] - France saw like-for-like sales down 1.4% year-on-year but up 13.2% over three years, with retail profit decreasing by 12% to £195 million [17] - Poland experienced strong growth with like-for-like sales up 13.8%, contributing to a total sales increase of 16.7% [19] - Iberia's like-for-like sales increased by 1.9%, while Romania's sales increased by 1.7% to £285 million [20][21] Market Data and Key Metrics Changes - E-commerce sales grew by 146% over three years, with penetration now at 16.3%, double the level of 2019 [8] - The company reported a strong performance in the kitchens category in Poland, achieving over 40% like-for-like growth [19] - TradePoint's like-for-like sales increased by 31.5%, reaching a sales penetration of 22% of B&Q [66] Company Strategy and Development Direction - The company is focused on multiple growth opportunities, including e-commerce, own exclusive brands, and strategic cost management [5][38] - A new medium-term financial priority was announced, emphasizing growth and cash generation [6][36] - The company aims to grow by expanding its store formats and leveraging its diverse geographic presence [49][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating economic challenges, highlighting strong underlying sales trends and market share gains [5][43] - The company anticipates a working capital unwind as seasonal and buffer stock sells through [34] - Future expectations include generating over £500 million of free cash flow, supported by unwinding prior year working capital outflows [37][87] Other Important Information - The company returned over £580 million to shareholders during the year, including dividends and buybacks [9] - A new share buyback program is planned following the completion of the existing program, subject to market conditions [10][84] - The company exceeded its near-term carbon reduction targets, achieving a 52.7% reduction in Scope 1 and 2 emissions [41] Q&A Session Summary Question: What are the expectations for sales growth in the upcoming year? - Management expects total sales growth of approximately 1.5% to 2.5% per annum driven by new store openings and market share gains [36][86] Question: How is the company addressing cost inflation? - The company is implementing strategic cost reduction programs to offset inflationary pressures while maintaining operational efficiency [33][78] Question: What are the plans for e-commerce growth? - The company aims to increase e-commerce sales penetration to 25% and expand its marketplace offerings significantly [55][58]

King /jsher | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Kingfisher plc | | | | | | | | | | Half Year Results 6 months to 31 July 2022 | | | | | | | | | | | | | | | | | | | | 20 September 2022 | | | | | | | | | Disclaimer You are not to construe th ...

Kingfisher plc (OTCQX:KGFHF) Q2 2022 Earnings Conference Call September 20, 2022 4:00 AM ET Company Participants Majid Nazir - Investor Relations Thierry Garnier - Chief Executive Officer & Executive Director Bernard Bot - Chief Financial Officer & Director Conference Call Participants Anne Critchlow - SG Pam Liu - Morgan Stanley Simon Irwin - Credit Suisse Richard Chamberlain - RBC Warwick Okines - BNP Paribas Adam Cochrane - Deutsche Bank Georgina Johanan - JPMorgan Majid Nazir So couple of quick - fire a ...

Kingfisher plc (OTCQX:KGFHF) Q4 2021 Earnings Conference Call March 22, 2022 5:00 AM ET Company Participants Thierry Garnier - Chief Executive Officer & Executive Director Bernard Bot - Chief Financial Officer & Director Majid Nazir - Investor Relations Conference Call Participants Anne Critchlow - Societe Generale Richard Chamberlain - RBC Pam Liu - Morgan Stanley Tony Shiret - Panmure Simon Irwin - Credit Suisse Georgina Johanan - JPMorgan Thierry Garnier So good morning. And thank you to everyone who has ...

King fisher KINGFISHER PLC FULL YEAR RESULTS 12 months to 31 January 2022 22 March 2022 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 dul ...

Kingfisher PLC Brands, Inc. (OTCQX:KGFHF) Q2 2021 Earnings Conference Call September 21, 2021 4:00 AM ET Company Participants Thierry Garnier - CEO & Executive Director Bernard Bot - CFO & Director Majid Nazir - IR Conference Call Participants Warwick Okines - Analyst Adam Vettese - Analyst Paul Rossington - HSBC Anne Critchlow - Societe Generale Pam Liu - Morgan Stanley Thierry Garnier So good morning, everyone. Thank you for joining us. I'm Thierry Garnier, CEO of Kingfisher. I'm here with our CFO, Bernar ...

King fisher KINGFISHER PLC HALF YEAR RESULTS 6 months to 31 July 2021 21 September 2021 Disclaimer 2 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 d ...

Kingfisher plc (OTCQX:KGFHF) Q4 2020 Earnings Conference Call March 22, 2021 5:00 AM ET Company Participants Thierry Garnier - CEO Bernard Bot - CFO Conference Call Participants Richard Chamberlain - RBC Simon Irwin - Crédit Suisse Warwick Okines - Exane BNP Paribas Anne Critchlow - Societe Generale James Grzinic - Jefferies Kate Calvert - Investec Tony Shiret - Panmure Gordon Lorenzo Margiotta - Bank of America Paul Rossington - HSBC Thierry Garnier Thank you, and good morning, everyone. Thank you for join ...

| --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | Disclaimer 2 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 ...