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Currys (CURY) investor relations material
Currys Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial performance and outlook
Group revenue reached £4,230m, up 8% year-on-year, with adjusted EBIT up 32% to £54m and free cash flow up 68% to £84m.
Adjusted profit before tax is expected at £180-190m, up 11-17% year-on-year and ahead of consensus estimates.
Net cash is projected to finish above the £100m target, with year-end net cash closing at £133m after significant pension contributions and shareholder returns.
Shareholder returns reached £46m, with a £0.75 interim dividend and a £50m buyback underway, totaling around £75m for the year.
Adjusted EBIT margin target is at least 3%, with capital expenditure projected around £90m and annual capex below £100m.
Growth drivers and market share
Like-for-like sales grew 3% in UK & Ireland and 12% in Nordics over peak, with group peak LFL revenue up 6%.
Mobile, coffee appliances, robot floor care, and new categories like toys, health and beauty tech, and wearables drove growth, with new category sales up 42% year-on-year.
Market share increased in both UK & Ireland (+60bps YTD) and Nordics (<50bps YTD), outperforming the market in both regions.
B2B sales grew 21% in UK & Ireland and 25% in Nordics, with ambitions to more than double B2B sales in three years.
iD Mobile subscribers exceeded 2.5m, up 19% year-on-year, and flexpay adoption rose by 200bps.
Operational and strategic initiatives
Omnichannel investments improved store and online experiences, boosting conversion and collect-at-store rates.
Services such as installation, recycling, and repair continue to grow, with over 11.8m active repair plans and 3m e-waste products collected.
Credit adoption through flexpay surpassed £1bn in annual sales, with credit customers showing higher spend and loyalty.
Colleague engagement reached record levels, ranking in the top 5% of global businesses and best among major UK retailers on Glassdoor.
Customer satisfaction improved in both UK & Ireland and Nordics, with NPS and review scores rising year-on-year.
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