Fnac Darty SA (GRUPF) Q2 2026 Earnings Call Transcript

Good afternoon, and welcome to Fnac Darty conference call. Mr. Enrique Martinez, CEO of Fnac Darty; and Jean-Brieuc Le Tinier, CFO, will moderate this call. The floor is yours. Enrique Martinez CEO & Director Good evening, everyone. We are pleased to be with you tonight to comment our 2026 half year results. Particularly in France over the past few years, we have experienced several early heat waves of unexpected intensity. These episodes had an impact on many of us and naturally on our customers. And I wanted to start by acknowledging the extraordinary dedication of our team during these exceptional weeks, especially our purchasing logistics stores teams and our home service technicians who intervene on products affected by the extreme heat. Everyone across the group worked tirelessly to step up and help our customers cope with these extreme temperatures. Right, the agenda. I'm going to present the highlights of the first half of 2026. Then Jean-Brieuc Le Tinier, our Chief Financial Officer, will detail our financial results. And finally, I will return for the conclusion, and both of us will be available to answer your questions. Slide #4, the highlights of H1. Our revenue grew by 0.6% on a like-for-like basis. This growth was driven by international operations, up 2.7%, while France declined by 0.7% due to a market that remains sluggish and a high comparison baseline. Activity was also driven by strong digital momentum, which I will elaborate on in a few moments. In a market that remains very fragile with solid recovery indicators in a few categories, yet still uncertain, particularly in France, we are pursuing the rollout of our Beyond Everyday plan. This has yielded significant effect on