Kingfisher (KFI2) Q2 2027 Earnings Report
DE:KFI2 Q2 2027 EPS Results
- Actual EPS
- EUR 0.41
- Consensus EPS
- EUR 0.42
- Beat/Miss
- Missed by -EUR 0.01
- One Year Ago EPS
- EUR 0.36
DE:KFI2 Q2 2027 Revenue Results
- Actual Revenue
- EUR 8.14B
- Expected Revenue
- EUR 4.23B
- Beat/Miss
- Beat by +EUR 3.90B
- YoY Revenue Growth
- +2.77%
Earnings Announcement Details
- Quarter
- Q2 2027
- Date
- 09/22/2026
- Time
- Before Open
- Conference Call
- Tuesday, September 22, 2026
DE:KFI2 Upcoming Earnings
Kingfisher's next earnings date is estimated for March 23, 2027, based on past reporting schedules.
Q2 2027 Earnings Call Audio
DE:KFI2 Q2 2027 Earnings Call
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Q2 2027 Earnings Slide Deck
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly constructive, with broad-based profit, cash flow, trade, digital, Marketplace and international growth, alongside upgraded full-year guidance and continued shareholder returns. Challenges included a mixed market, weather-related demand disruption, bathroom and Brico Depot underperformance, operating cost inflation and the still-developing profitability of Screwfix France, but management described these issues as being actively addressed and emphasized confidence in the outlook.
Company Guidance
Kingfisher upgraded adjusted profit before tax guidance to a range of GBP 595 million to GBP 635 million, an increase of GBP 20 million at the midpoint, and upgraded free cash flow guidance by GBP 20 million, now expecting free cash flow between GBP 480 million and GBP 520 million; second-half assumptions remain largely unchanged, including a mixed consumer environment, a limited impact from events in the Middle East on energy and freight costs, rational pricing behavior across markets, and maintaining competitive prices while managing gross margin and cost effectively.
- Sales and Profit GrowthH1 sales, including marketplace GMS, grew 1.6% in a mixed market environment. Adjusted profit before tax increased 9.9% to GBP 404 million, while adjusted earnings per share grew 16%, supported by profit performance and the share buyback program.
- Upgraded Full-Year GuidanceThe company upgraded adjusted profit before tax guidance to GBP 595 million to GBP 635 million, an increase of GBP 20 million at the midpoint. Free cash flow guidance was also upgraded by GBP 20 million to GBP 480 million to GBP 520 million.
- Strong Cash Generation and Shareholder ReturnsKingfisher generated GBP 339 million of free cash flow after investing in strategic priorities and returned GBP 333 million to shareholders through dividends and share buybacks during H1. An interim dividend of 3.8p per share was announced, in line with last year, and GBP 175 million of the GBP 300 million share buyback program is expected to be completed by the end of December.
- Healthy Balance SheetNet leverage stood at 1.4x, and management described the balance sheet as very healthy. Adjusted EBITDA was GBP 784 million, while working capital delivered a net inflow of GBP 5 million.
- Gross Margin Expansion and Cost DisciplineProfit growth reflected strong gross margin performance and disciplined cost control. Gross margin added GBP 40 million through group buying and sourcing, Marketplace and Retail Media growth, foreign exchange tailwinds and the disposal of Romania, partly offset by freight headwinds and a higher trade mix. Structural cost reductions contributed GBP 44 million through distribution center space optimization, procurement efficiencies and store operating model improvements.
- Resilient Core and Seasonal SalesResilient core and good seasonal sales more than offset weakness in big-ticket categories. Core sales saw broad-based growth across repair and maintenance categories, including tools and hardware, joinery and electrical, while seasonal sales grew against strong comparators and all banners delivered growth in Q2.
- Screwfix UK OutperformanceScrewfix delivered like-for-like sales growth of 5.6%, significantly outperforming the market. Growth was volume-led and supported by the Rewards program, with existing customers increasing their spend and new customers joining the platform.
- Trade Growth and Market Share GainsGroup Trade Sales reached GBP 2.1 billion and grew 16% excluding Screwfix. Trade penetration increased by more than 3 percentage points to 31% of sales. TradePoint gained share in a subdued trade market, and sales from customers covered by a trade sales partner grew 23%. Outside Screwfix, trade zones were present in 49% of stores, 58% of stores hosted a trade sales partner, and 438 trade sales partners were enrolled across the banners.
- Screwfix Rewards and Expanded Product ChoiceLess than a year after launch, Screwfix Rewards had more than 2.3 million active customers and accounted for 44% of total sales. The Footshore partnership generated GBP 12 million of sales in its first year by offering more than 12,000 footwear SKUs, with 70% of orders collected in stores, and the company plans to scale the model.
- Digital Ecosystem ExpansionExcluding Screwfix, e-commerce sales reached GBP 1.6 billion and grew 16%, with e-commerce penetration increasing to 22% of sales. Screwfix had 60% of sales through digital channels, while B&Q reached 20% and Castorama France reached 10%; Kingfisher's target is 30% e-commerce penetration across the group.
- Marketplace and Retail Media MomentumMarketplace GMV grew 42%, represented 18% of e-commerce sales and contributed more than GBP 13 million of retail profit. Marketplace contributed GBP 12 million of profit in the half at the group financial review, Castorama France's Marketplace was profitable after two years, and Poland's Marketplace reached breakeven. Retail Media grew 75% in the half.
- Marketplace Scale and Customer FulfillmentB&Q Marketplace offered close to 5 million SKUs and had onboarded more than 80 international merchants, which accounted for less than 10% of GMV. The company expanded Marketplace Click & Collect, B&Q 3-hour delivery direct to site and Screwfix's 30-minute sprint delivery service.
- Technology and AI InvestmentsKingfisher continued investing in technology, including its Marketplace platform, natural language search, agent-enabled shopping, voice capability for digital agents and AI tools such as the Fabric content platform. Fabric creates product content in minutes to improve speed to market, search engine optimization and conversion.
- Castorama Transformation ProgressCastorama had addressed 24 stores, with rightsized stores delivering double-digit improvements in sales densities and revamped stores generating a higher profit contribution than the Castorama estate average. Nine additional stores were on track to be addressed in H2, and three Castorama stores had been transferred to franchise following the announcement of a third transfer.
- Castorama Range, Trade and E-Commerce GrowthCastorama's like-for-like sales returned to growth in Q2, marking a fourth consecutive quarter of sequential improvement. Ranges already reviewed were growing 5.1%, with some growing double digits. Trade penetration increased 6.5 percentage points, e-commerce sales grew 11%, and Marketplace was profitable after only two years.
- Poland Growth and Margin ImprovementPoland delivered total sales growth of 3.6% and like-for-like sales growth of 2.2%, gained share in a growing market and was supported by trade, e-commerce and design-led categories. Trade sales grew 14%, e-commerce sales grew 39%, retail profit increased 15.7% to GBP 60 million and retail margin increased 60 basis points.
- Iberia Market OutperformanceIberia delivered like-for-like sales growth of 7.7%, supported by a competitive price position and strong momentum in trade and e-commerce. The business opened two stores, its first Iberia openings in a decade, while retail profit increased 17% to GBP 13 million and retail margin increased 30 basis points.
- Screwfix France MomentumScrewfix France store like-for-like sales increased 48%. Brand awareness, repeat customer purchases and trade penetration of around 55% were improving, while earlier cohorts continued to show strong growth. Two stores opened in H1 and another three were planned for H2, bringing the total store count to 37.
- Own-Brand Range GrowthNew outdoor ranges grew sales 8%, and expanded MacAllister and Titan power tool ranges increased sales 11% since launch. The Imandra 2 bathroom collection launched with new colors and designs at a cheaper price for the same quality of product.
- UK and Ireland Retail Profit GrowthUK and Ireland retail profit increased 4.9% to GBP 361 million. Excluding a GBP 14 million business rates refund, profit growth was 6.1%, reflecting the company's stated operational and financial discipline.
- Franchise EconomicsManagement said the initial franchise economics were encouraging, with Castorama sales in line with expectations, Brico sales probably above expectations and overall profit improving by several points. The two initial stores were loss-making before transfer, and moving them to franchise helped profit margin.
DE:KFI2 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 23, 2027 | 2027 (Q4) | 0.22- | 0.2 | ― | ― |
| Sep 22, 2026 | 2027 (Q2) | 0.420.41 | 0.36 | 14.46% (+0.05) | |
| Mar 24, 2026 | 2026 (Q4) | 0.200.20 | 0.17 | 11.62% (+0.02) | |
| Sep 23, 2025 | 2026 (Q2) | 0.310.36 | 0.31 | 17.24% (+0.05) | |
| Mar 25, 2025 | 2025 (Q4) | 0.160.17 | 0.2 | -10.41% (-0.02) | |
| Sep 17, 2024 | 2025 (Q2) | 0.230.31 | 0.28 | 9.78% (+0.03) | |
| Mar 25, 2024 | 2024 (Q4) | 0.190.20 | 0.24 | -20.22% (-0.05) | |
| Sep 19, 2023 | 2024 (Q2) | 0.310.28 | 0.36 | -22.87% (-0.08) | |
| Mar 21, 2023 | 2023 (Q4) | 0.240.24 | 0.24 | 3.36% (+0.01) | |
| Sep 20, 2022 | 2023 (Q2) | 0.380.36 | 0.59 | -39.02% (-0.23) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
