Brief: Pepco Group H1 Underlying EBITDA Down At EUR 460 Mln

Pepco

22/05/2025 06:07

May 22 (Reuters) - Pepco Group NV PCOP.WA:

H1 GROUP REVENUE OF €3,338M GREW +4.3% Y-O-Y

PEPCO BRAND EXPECTS TO DELIVER FY25 REVENUE AND EBITDA GROWTH IN LINE WITH GUIDANCE OF HIGH SINGLE-DIGIT GROWTH

H1 UNDERLYING EBITDA OF €460M DOWN 5.5% Y-O-Y, WITH STRONG PEPCO EBITDA GROWTH OFFSET BY A  MATERIAL DECLINE IN POUNDLAND EBITDA

POUNDLAND FY OUTLOOK WEAKER THAN EXPECTED

GROUP OPENED 101 NET NEW STORES DURING THE PERIOD LEADING TO A TOTAL OF 5,049 STORES IN OPERATION

BOARD CONTINUES TO ACTIVELY EXPLORE SEPARATION OPTIONS FOR POUNDLAND BUSINESS WITH AN EXIT EXPECTED BY END OF FY25

PEPCO AND DEALZ POSITIVE TRADING MOMENTUM HAS CONTINUED INTO Q3 TO DATE, WITH LFL REVENUE AHEAD OF THE 3.6% LFL RATE ACHIEVED IN Q2 FY25

POUNDLAND NOW EXPECTS TO DELIVER UNDERLYING FY25 EBITDA OF AROUND €0M TO €20 MILLION, COMPARED TO PREVIOUS GUIDANCE OF €50M TO €70M

IN TERMS OF STORE NUMBERS IN FY25, WE ARE NOW TARGETING TO OPEN ABOUT 250 NET NEW STORES ACROSS GROUP

GROSS MARGIN IMPROVED 30 BASIS POINTS (“BPS”) TO 43.3% FOR H1, DRIVEN BY PEPCO (+180 BPS Y-O-Y)

NEW STORES PRINCIPALLY FOCUSED ON PEPCO BRAND AND PRIMARILY IN  CEE REGION

PEPCO IS MAINTAINING GOOD UNDERLYING PROGRESS IN TRADING AS WE ENTER SECOND HALF OF FY25

Source text: ID:nEM78Wtm8a

Further company coverage: PCOP.WA

 (Reporting by Gdansk Newsroom)

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