Fnac Darty: 2025 preliminary unaudited results

Ivry-sur-Seine, France, 26 January 2026, 7:30 a.m. CET

2025 PRELIMINARY UNAUDITED RESULTS

• Tender offer for Fnac Darty shares announced today
• Q4 estimated stable LFL¹, penalised by the underperformance of France at -0.6% LFL¹
• Estimated annual revenue of +0.7% LFL¹ of which +0.5% LFL¹ in France
• Current operating income expected at €203 million, up slightly and current operating margin at 2.0%
• Estimated Free Cash Flow of around €145 million
• Search for a new partner for Nature & Découvertes and reclassification to IFRS 5
• The 2025 annual results will be published on February 25, 2026
  
  

EP Group, a company controlled by Daniel Kretínský, has submitted to the Board of Directors of Fnac Darty a draft public tender offer for the outstanding shares and OCEANEs of Fnac Darty.

The activity observed in December in France is down, especially in stores. The figures published by the Banque de France last week confirm a particularly difficult context for the retail sector with strong pressure on consumption and household confidence. Fnac Darty continued to outperform the market, thanks to its omnichannel and service-oriented strategy. The rest of Europe recorded a very satisfactory performance.

The challenges encountered by Nature & Découvertes for several quarters have persisted despite the initiatives put in place to resume the activity. The Group has decided to launch an active process to search a partner that would be better able to support its development. The activity will be reclassified in the consolidated financial statements as of 31 December 2025 in accordance with IFRS 5.

Group revenue at the end of 2025 is expected to be stable LFL¹ to €10,330 million, impacted by France's underperformance in the fourth quarter.

The Group's current operating income at the end of 2025 is expected to increase slightly to €203.1 million. The ROC of the France zone is expected to decline, impacted by a weak fourth quarter, while that of the rest of Europe is expected to increase slightly, thanks in particular to Italy.

After considering the reclassification to IFRS 5 of Nature & Découvertes and the recognition of an amortization of assets resulting from the Purchase Price Allocation (PPA) related to the acquisition of Unieuro, the current operating margin is expected to reach 2.0% at the end of December 2025, an increase of around 5 basis points¹-

Supported by optimised management of working capital, Free Cash Flow would reach €145 million, in line with 2024 excluding asset disposals carried out in the 1st half of 2024.

The Group is confident in its ability to implement its strategic roadmap of the Beyond everyday plan presented on 11 June 2025. The objectives communicated for 2030 are confirmed.

The audited 2025 annual results will be published on February 25, 2026, after markets close.

Restated 2024 figures (IFRS 5 reclassification of Nature & Découvertes and Unieuro PPA):

(in millions of euros)	FY 2024	Nature & Découvertes	PPA	FY 2024
	comparable2		Unieuro	restated3
Revenue	10,496.0	172.3		10,323.7
Current operating income	192.5	(14.0)	(6.1)	200.4
as a % of revenue	1.8%	(8.1)%		1.9%

Estimated 2025 figures:

(in millions of euros)	FY 2024	FY 2025	LFL4
	Restated2	estimated	change
Revenue	10,323.7	10,329.8	+0.7%
o/w France	6,070.5	6,068.9	+0.5%
o/w Rest of Europe	4,253.2	4,260.9	+1.1%
Current operating income	200.4	203.1	+1.2%
as a % of revenue	1.9%	2.0%	+5 bps
o/w France	152.4	140.9
o/w Rest of Europe	48.0	62.2

IMPORTANT MENTIONS
All figures for the year from January 1 to December 31, 2025 presented in this press release are estimated financial data. These estimated financial data have been prepared according to an accounting and consolidation process similar to that usually used for the preparation of the consolidated accounts. The basis of accounting used for the purposes of this forecast is in accordance with the accounting policies applied by the issuer and described in its half-year condensed consolidated financial statements as at June 30, 2025. However, not all the annual closing procedures have been completed.
These estimated financial figures were reviewed by the Company's Board of Directors on January 21, 2026, and have not been audited by the Company's statutory auditors.
These data are not derived from consolidated financial statements that have been officially approved by the Company's Board of Directors. The Board of Directors is scheduled to approve the financial statements on February 25, 2026. The 2025 results will be published on February 25, 2026, after the close of trading, according to the provisional publication schedule.

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WEBCAST TODAY AT 10:00 AM (CET)

Enrique Martinez, Chief Executive Officer and Jean-Brieuc Le Tinier, Chief Financial Officer, will host a virtual presentation in French (with simultaneous translation into English) for investors and analysts today at 10:00 a.m. (continental time); 9:00 a.m. (UK).

The presentation will be streamed live at this link
To join the conference call, dial: UK: [phone]; USA: [phone]

You can listen to a recording of the presentation at any time, in either French or English, via the website www.fnacdarty.com.

CONTACTS
ANALYSTS / INVESTORS
Domitille Vielle - Head of Investor Relations - [e-mail] - [phone]
Laura Parisot - Investor Relations Manager - [e-mail] - [phone]

PRESS
Bénédicte Debusschere - Director of Media Relations and Influence - [e-mail] - [phone]

1 LFL data: excludes currency effects, changes in scope, store openings and closures.
2 Comparable includes Unieuro integration and Ticketing deconsolidation.
3 Restated corresponds to comparable restated from Nature & Découvertes IFRS 5 restatement and Unieuro PPA impact.
4 LFL data: excludes currency effects, changes in scope, store openings and closures.