Fnac Darty (FNAC) AGM 2025 summary

Opening remarks and agenda

• The meeting welcomed shareholders both in person and online, outlined a 1.5-hour agenda, and noted changes in the board, including the passing of a long-standing member and the co-option of a new director.

• The assembly was mixed (ordinary and extraordinary), with key presentations on financials, sustainability, and board committee updates scheduled.

Financial performance review

• 2024 results exceeded objectives, with €182 million in operating profit versus a €170 million target, despite a weak consumption context in Europe.

• Omnichannel sales reached 52%, and online sales returned to growth, contributing to a resilient business model.

• Free cash flow rose to €195 million, surpassing the cumulative €500 million target for 2021-2024.

• The group ended 2024 with €224 million in net cash and €1.7 billion in liquidity, maintaining a healthy financial structure.

• The acquisition of Unieuro was consolidated in December, boosting international sales to over 40% of group activity.

Board and executive committee updates

• The board comprised 13 members at year-end, with three mandates up for renewal and the ratification of a new director following a board member's passing.

• The board met 11 times in 2024, focusing on the Unieuro acquisition, RSE (CSR) initiatives, risk mapping, and strategic committee restructuring.