Brief: Pepco Group Expects FY26 Underlying EBITDA Growth In The Mid-Teens

Pepco

09/07/2026 05:59

July 9 (Reuters) - Pepco Group NV PCOP.WA:
PEPCO DELIVERED ANOTHER QUARTER OF STRONG, BROAD-BASED GROWTH, WITH Q3 FY26 REVENUE UP +8.5%
Q3 LIKE-FOR-LIKE (LFL) REVENUE GROWTH EXCLUDING FMCG OF +5.4% (LFL INCLUDING FMCG OF +4.2%)
GROWTH LED BY WESTERN EUROPE, WHERE LFL REVENUES EXCLUDING FMCG GREW +15.0% IN THE QUARTER
NET NEW OPENINGS OF 74 PEPCO STORES IN Q3 FY26 (YTD 136)
GROSS MARGIN UP 290 BASIS POINTS YEAR-ON-YEAR TO 51.9% IN 9M FY26
FOLLOWING THE AGREED SALE OF DEALZ POLAND, THE GROUP IS UPGRADING ITS FORWARD-LOOKING GUIDANCE FOR FY26 TO A BASIS THAT EXCLUDES DEALZ
ON THIS REVISED BASIS, THE GROUP CONTINUES TO EXPECT FY26 REVENUE GROWTH OF 6–8%. HOWEVER, GROSS MARGIN IS NOW EXPECTED TO BE AROUND 51%
AS A RESULT, UNDERLYING EBITDA (IFRS 16) GROWTH IS NOW EXPECTED TO BE IN THE MID TEENS (PREVIOUSLY LOW-TEENS)
FULL-YEAR UNDERLYING NET EARNINGS FOR THE GROUP EXCLUDING DEALZ IS EXPECTED TO BE ABOVE 50%, AGAINST A  RESTATED FY25 UNDERLYING NET EARNINGS BASE OF €234M
UNLEVERED FREE CASH FLOW IS NOW EXPECTED TO BE AROUND €300M
ANTITRUST APPROVAL FOR THE DEALZ TRANSACTION HAS NOW BEEN RECEIVED BY MODELLA, WITH COMPLETION EXPECTED  IMMINENTLY
Source text: ID:nEM9YTP59a
Further company coverage: PCOP.WA

 (Reporting by Gdansk Newsroom)
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