Kingfisher Poland In-line With Market; Strong Spanish Performance

Kingfisher plc has published full year results for the year ended 31 January 2026.

Click here to see Kingfisher Group results

Click here to view results for Kingfisher France

Click here to download the full results publication 

Click here to watch Thierry Garnier discussing the results 

Poland

Market 

- Market flat, with continued geopolitical uncertainty impacting the home improvement market 

Poland
- Total sales flat at £1,843m. LFL (1.1)% reflecting a challenging market backdrop with sales performance in line with the market (as measured by GfK) 

- LFL returned to growth in Q4, led by seasonal sales aided by colder weather. Core delivered sequential improvement in LFL in H2 (0.4)% vs H1 (2.5)% led by building & joinery, as OEB range reviews in interior doors delivered strong results. Full year big-ticket sales were (0.1)% with strong performance in kitchens driven by new ranges and targeted promotional activities, offset by softer performance in bathrooms. Installation services for kitchens and flooring are seeing increasing uptake 

- Trade sales growth of +46.6% with penetration reaching 27% (FY 24/25: 18%) as Castorama drove further rollout of CastoPro zones, recruited specialised trade sales partners and optimised its ranges for pro customers. 120 trade sales partners are now in role. The new loyalty programme which includes a cash-back feature saw 489k sign-ups and is successfully driving footfall into stores. In addition, CastoRent is offering tool rental for tradespeople 

- E-commerce sales increased +30% to £84m, benefiting from the launch of marketplace. A year into launch, Castorama’s marketplace has recruited +350 vendors and reached 21% of e-commerce sales in January 2026 

- Space growth contributed +1.1% to total sales from one net store opening in the current year, following 5 in the prior year. The proven 4,000 sqm medium-box format and the Smart compact store concept continue to expand our population reach and enable entry into new catchments. We are also piloting standalone Design Points in high-traffic shopping malls, leveraging strong footfall to showcase our kitchen ranges, with orders fulfilled by nearby stores

Poland Retail profit 

- Gross margin increased by 20bps, reflecting the effective management of product costs and supplier negotiations, partially offset by higher promotional sales, as consumers continue to focus more of their spend around promotional events

- Operating costs increased +1.7% with increases in staff pay and IT costs, partially offset by structural cost reductions and the flexing of staff levels and discretionary spend. IT costs include a one-off c.£5m impairment charge related to the acceleration of next-generation technology, which resulted in the write-down of legacy systems. Excluding this charge, operating costs increase would have been +0.8%

- Retail profit decreased by (6.4)% to £87m (FY 24/25: £90m). Retail profit margin decreased by (40) bps to 4.7%, at reported rates (FY 24/25: 5.1%). Excluding the impairment charge, retail profit margin would have been broadly flat 

Other International 

 ± Screwfix France & Other consists of the consolidated results of Screwfix International, and results from franchise and wholesale agreements. The prior year comparator includes NeedHelp - we divested our c.80% equity interest on 18 July 2024. **On 2 May 2025 the Group completed the divestment of its 100% equity interest in Brico Dépôt Romania. The Group recognised a £31m loss on disposal (included in adjusting items). 

Iberia

- Sales increased by +8.8% to £425m. LFL +8.8% driven by volume & transaction growth. Positive LFL across all categories. Continued strong focus on trade professionals, improved customer offer, enhanced ranges and leading price positioning in key categories. Growth was also supported by strong demand in Valencia following last year’s flood damage 

- Market share gains in Spain (AECOC) driven by strong price positioning and effective commercial activation programmes

- Trade sales growth +35.5% with penetration reaching 19.7% (FY 24/25: 15.8%) driven by the successful launch of the new loyalty programme BricoClub Pro and creation of trade zones in 6 stores 

- E-commerce marketplace continued to scale, reaching 30% of e-commerce online sales (FY 24/25: 25%). Brico Dépôt Spain has launched a hub network to fulfil e-commerce orders covering its entire estate. The transition to a digital-hub fulfilment model led to a 10bps increase in digital conversion and improved gross margin driven by lower delivery costs and reduced stock shrinkage

- Retail profit increased to £15m (FY 24/25: £8m), reflecting higher gross profit and strong cost control 

Screwfix France & Other

- Following first opening in Q4 2022, Screwfix France now has a total of 35 stores in operation, of which 5 stores were opened in the year. Store LFL sales grew +49%(3), supported by the benefits of network effects and growing brand awareness in northern France, as successful marketing is driving increases in store traffic. Brand awareness in the North region reached 21% (+4pts). LFL growth continues to be higher in the more recently launched cohorts and strongest in areas with higher network effect. Trade penetration is at 54% (FY 24/25: 50%) with continued focus on enhancing the customer proposition through trade brands and trade-focused campaigns   

- Franchise and wholesale agreements currently in place with seven partners that are buying selected Own Exclusive Brand (OEB) products, including Altex in Romania following their purchase of Brico Dépôt Romania. This has contributed c.£4m in retail profit for the current year

- Combined retail loss of £31m (FY 24/25: £35m)

Turkey

- Total contribution to Group adjusted PBT was a net loss of £9m as demand remained constrained by high inflation and interest rates, though the environment improved over the year, with LFL sales returning positive for the full year 

Romania

- On 2 May 2025 the Group completed the divestment of its 100% equity interest in Brico Dépôt Romania for proceeds of £53m. The Group recognised a £31m loss on disposal (included in adjusting items) Kingfisher continues to supply OEB products into Romania through our wholesale partnership with Altex 

Source : Kingfisher plc

Image : Kingfisher plc

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