REG - B&M European - Update on FY26 Guidance and Directorate Change

B&M European Value Retail SAAnnouncement

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RNS Number : 0009E  B&M European Value Retail S.A.  20 October 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 ("EU MAR") AND ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE
UNITED KINGDOM (THE "UK") BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("UK MAR").

20 October 2025

 

Update on FY26 Guidance and Directorate Change

 

B&M European Value Retail S.A. ("the Group") is today updating its
announcement of 7 October 2025 regarding the outlook for its current financial
year ("FY26").

The Group's financial half-year end results consolidation process has
identified, after the announcement of 7 October 2025, approximately £7m of
overseas freight costs not correctly recognised in cost of goods sold,
following an operating system update earlier this year. The underlying system
issue has since been resolved but its financial impact is material to our
outlook for FY26.

Therefore, we have reduced our outlook for FY26 based on revised
second-quarter margin run rates. Group Adjusted EBITDA (pre-IFRS 16) is now
expected to be in the range of £470m - £520m for FY26, compared to the
previous estimate of £510m - £560m. For H1 FY26, the Group now expects to
report Adjusted EBITDA (pre-IFRS 16) of approximately £191m, compared to the
previous guidance of approximately £198m.

As previously disclosed, B&M UK's like-for-like ("LFL") sales are expected
to be the principal driver of the outcome within this range, for which we
reaffirm our assumption of a second half UK LFL percentage growth rate of
between low-single-digit negative and low-single-digit positive levels.

The Group continues to expect that with LFL growth, future adjusted EBITDA
margins for B&M UK can stabilise at low-double-digit percentage levels
over the medium term.

The Board intends to commission a comprehensive third-party review of this
matter.

Mike Schmidt, Chief Financial Officer, has advised the Board of his intention
to step down from the Board and his role as CFO. A search for his successor
has commenced and Mike Schmidt will remain with the company until a
replacement is in place to ensure an orderly transition. The Board wishes Mike
well for the future.

A further update on this matter will be provided alongside the Group's interim
results, which are scheduled for 13 November 2025.

 

Enquiries

B&M European Value Retail S.A.

For further information please contact: +44 (0) 151 728 5400 Ext 6363

Tjeerd Jegen, Chief Executive Officer

Mike Schmidt, Chief Financial Officer

Andrew Orchard, Head of Investor Relations

Investor.relations@bandmretail.com

 

Media

For media please contact:

Sam Cartwright, H-advisors, sam.cartwright@h-advisors.global
(mailto:sam.cartwright@h-advisors.global)  +44 (0) 7827 254 561
(tel:+447827254561)

Neil Bennett, H-advisors, neil.bennettt@h-advisors.global +44 (0) 7900 000
777

 

Disclaimer

This announcement contains statements which are or may be deemed to be
'forward-looking statements'. Forward-looking statements involve risks and
uncertainties because they relate to events and depend on events or
circumstances that may or may not occur in the future. All forward-looking
statements in this announcement reflect the Company's present view with
respect to future events as at the date of this announcement. Forward-looking
statements are not guarantees of future performance and actual results in
future periods may and often do differ materially from those expressed in
forward-looking statements. Except where required by law or the Listing Rules
of the UK Listing Authority, the Company undertakes no obligation to release
publicly the results of any revisions to any forward-looking statements in
this announcement that may occur due to any change in its expectations or to
reflect any events or circumstances arising after the date of this
announcement.

 

About B&M European Value Retail S.A.

B&M European Value Retail S.A. is a variety retailer with 786 stores in
the UK operating under the "B&M" brand, 344 stores under the "Heron Foods"
and "B&M Express" brands, and 140 stores in France also operating under
the "B&M" brand as at 27 September 2025.

The B&M Group was founded in 1978 and listed on the London Stock Exchange
in June 2014. For more information, please visit www.bandmretail.com
(http://www.bandmretail.com) .

 

 

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