Upcoming Dividend • May 27
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 05 June 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.8%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.8%). Announcement • Apr 21
Fnac Darty SA, Annual General Meeting, May 27, 2026 Fnac Darty SA, Annual General Meeting, May 27, 2026. Location: 189 rue de bercy, paris France Reported Earnings • Feb 26
Full year 2025 earnings released Full year 2025 results: Revenue: €10.3b (up 25% from FY 2024). Net loss: €224.0m (down €257.8m from profit in FY 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Specialty Retail industry in the United Kingdom. Announcement • Feb 26
Fnac Darty SA Proposes Dividend, Payable on June 5, 2026 Fnac Darty SA will propose to the Annual General Meeting of Shareholders, scheduled for May 27, 2026, to approve the distribution of a dividend of €1.00 per share, in line with previous years and the shareholder return policy presented in the Beyond everyday strategic plan. The ex-dividend date is set for June 3, 2026, and the payment date is June 5, 2026. Announcement • Feb 12
Fnac Darty SA to Report Q2, 2026 Results on Jul 22, 2026 Fnac Darty SA announced that they will report Q2, 2026 results on Jul 22, 2026 Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €35.28, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Specialty Retail industry in the United Kingdom. Total returns to shareholders of 13% over the past three years. Announcement • Oct 22
Fnac Darty SA to Report Q1, 2026 Final Results on Apr 23, 2026 Fnac Darty SA announced that they will report Q1, 2026 final results After-Market on Apr 23, 2026 New Risk • Jul 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Jul 24
First half 2025 earnings released First half 2025 results: Revenue: €4.48b (up 32% from 1H 2024). Net loss: €86.0m (loss widened 14% from 1H 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Specialty Retail industry in the United Kingdom. Upcoming Dividend • Jun 25
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 04 July 2025. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (4.0%). Announcement • Apr 23
Fnac Darty SA, Annual General Meeting, May 28, 2025 Fnac Darty SA, Annual General Meeting, May 28, 2025. Location: urban station, espace du centenaire, 189 rue de bercy, paris France Declared Dividend • Mar 02
Dividend increased to €1.00 Dividend of €1.00 is 122% higher than last year. Ex-date: 2nd July 2025 Payment date: 4th July 2025 Dividend yield will be 3.4%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is well covered by cash flows (6% cash payout ratio). The dividend has remained flat since 4 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 4.8% to bring the payout ratio under control. However, EPS is expected to remain steady over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Mar 01
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 94% Dividend yield: 3.3% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (94% payout ratio). Large one-off items impacting financial results. Reported Earnings • Feb 27
Full year 2024 earnings released Full year 2024 results: Revenue: €8.25b (up 4.8% from FY 2023). Net income: €34.0m (up €109.0m from FY 2023). Profit margin: 0.4% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Specialty Retail industry in the United Kingdom. Announcement • Feb 26
Fnac Darty SA to Report First Half, 2025 Results on Jul 23, 2025 Fnac Darty SA announced that they will report first half, 2025 results on Jul 23, 2025 New Risk • Nov 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Announcement • Oct 16
Fnac Darty SA Provides Earnings Guidance for the Year 2024 Fnac Darty SA provided earnings guidance for the year 2024. For the year, the company raising its target for its 2024 Current Operating Income (COI) now expected to exceed €180 million, compared to the previous target of at least equal to that of 2023 (€171 million). Announcement • Sep 20
Fnac Darty SA to Report Fiscal Year 2024 Results on Feb 26, 2025 Fnac Darty SA announced that they will report fiscal year 2024 results on Feb 26, 2025 Reported Earnings • Jul 27
First half 2024 earnings released First half 2024 results: Revenue: €3.39b (up 1.4% from 1H 2023). Net loss: €75.0m (loss narrowed 54% from 1H 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Specialty Retail industry in the United Kingdom. Announcement • Jul 18
Fnac Darty SA (ENXTPA:FNAC) and Ruby Equity Investment S.à R.L. proposed to acquire an additional 95.30% stake in Unieuro S.p.A. (BIT:UNIR) from Amundi Asset Management SAS, Xavier Niel, Giuseppe Silvestrini and others for approximately €240 million. Fnac Darty SA (ENXTPA:FNAC) and Ruby Equity Investment S.à R.L. proposed to acquire an additional 95.30% stake in Unieuro S.p.A. (BIT:UNIR) from Amundi Asset Management SAS, Xavier Niel, Giuseppe Silvestrini and others for approximately €240 million on July 16, 2024. The Offerors will pay a consideration for each Unieuro Share tendered to the Offer equal to €9.00 (the “Cash Portion”), and no. 0.1 newly issued Fnac-Darty shares listed on the Euronext Paris (the “Share Portion”). Therefore, for every 10 Unieuro Shares tendered to the Offer, €90.00 and 1 newly issued Fnac-Darty share will be paid. As of the date of this Notice, Fnac-Darty directly holds no. 913,412 ordinary shares of Unieuro (equal to approximately 4.4% of the share capital), which are excluded from the Offer. The Offer is aimed at delisting Unieuro from the Euronext Milan. Fnac Darty and Ruby Equity Investment plan to create a Joint investment vehicle (held respectively at 51% and 49%) that will hold the stake in Unieuro. This company would be controlled and consolidated by Fnac Darty Group. The cash component representing c.75% of the offer amount, would be financed by Ruby Equity Investment and Fnac Darty in the respective proportion of c.2/3 and c.1/3. The equity component representing c.25% of the offer amount would be financed by Fnac Darty through a share issuance of approximately 2.0 million shares, within the limits of the current authorizations, and representing around 6.6% of Fnac Darty’s share capital post transaction. The Cash Portion will be financed through the use of the Offerors own funds. If all of the Shares subject to the Offer are tendered a maximum amount of €178.066881 million an aggregate amount of the Cash Portion, will be paid to the tendering Unieuro shareholders and a maximum of no. 1,978,521 newly issued shares of Fnac-Darty, as maximum aggregate amount of the Share Portion, will be issued to the tendering Unieuro shareholders (other than the Offerors), representing approximately 6.6% of Fnac-Darty’s share capital following the execution of the VTO Capital Increase. The transaction is subject to the obtainment, by the second trading day prior to the Payment Date, of any authorization, approval or clearance, including the authorization by the European Commission required under EU competition legislation in order to take legal control over the Issuer, as well as any other applicable clearance pursuant to antitrust applicable regulations, that the Offerors and any person acting in concert with them come to hold, upon completion of the Offer ? as a result of tenders in the Offer and/or any purchases made outside the Offer pursuant to applicable law during the Tender Period a direct and/or indirect stake equal at least to 90% of the Issuer’s share capital. Closing of the offer is expected over the course of Q4 2024.
Crédit Agricole Corporate and Investment Bank acted as financial advisor for Fnac Darty SA. Rothschild & Co SCA acted as financial advisor for Fnac Darty SA. Bredin Prat & Associes acted as legal advisor for Ruby Equity Investment S.à R.L. and Fnac Darty SA. De Pardieu Brocas Maffei acted as legal advisor for Ruby Equity Investment S.à R.L. Chiomenti Studio Legale acted as legal advisor for Ruby Equity Investment S.à R.L. and Fnac Darty SA. White & Case LLP acted as legal advisor for Ruby Equity Investment S.à R.L. Upcoming Dividend • Jun 26
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 03 July 2024. Payment date: 05 July 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.4%). Announcement • Apr 27
Fnac Darty Reaffirms Financial Guidance for the Full Year of 2024 Fnac Darty reaffirmed financial guidance for the full year of 2024. For the period, the company is continuing to have a cautious view of the economic and geopolitical context, and therefore, at this stage, reaffirms its target to reach a current operating income at least equal to that of 2023. Reported Earnings • Feb 23
Full year 2023 earnings released Full year 2023 results: Revenue: €7.88b (flat on FY 2022). Net loss: €75.0m (down 175% from profit in FY 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Specialty Retail industry in the United Kingdom. Announcement • Feb 23
Fnac Darty SA, Annual General Meeting, May 29, 2024 Fnac Darty SA, Annual General Meeting, May 29, 2024. Agenda: To consider the dividend. New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks High level of debt (48% net debt to equity). Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Announcement • Aug 03
CTS Eventim AG & Co. KGaA (XTRA:EVD) exercise call option to acquire additional 17% stake in Societe Reseau France Billet from Fnac Darty SA (ENXTPA:FNAC). CTS Eventim AG & Co. KGaA (XTRA:EVD) exercise call option to acquire additional 17% stake in Societe Reseau France Billet from Fnac Darty SA (ENXTPA:FNAC) on August 2, 2023. The transaction is subject to the necessary approval of the competition authorities. The closing is expected to take place within a few months. New Risk • Jul 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Reported Earnings • Jul 28
First half 2023 earnings released First half 2023 results: Revenue: €3.34b (down 2.5% from 1H 2022). Net loss: €163.0m (loss widened €145.6m from 1H 2022). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in the United Kingdom. Announcement • Jul 24
Fnac Darty SA to Report First Half, 2023 Results on Jul 27, 2023 Fnac Darty SA announced that they will report first half, 2023 results on Jul 27, 2023 Announcement • Jul 04
Fnac Darty SA Approves Cash Dividend, Payable on 6 July 2023 Fnac Darty SA announced that the combined General Meeting of Shareholders of 24 May 2023 approved a dividend of €1.40 gross per share and decided to grant to the shareholders the option to receive their dividend in cash or in new shares. The total cash dividend to be paid to the shareholders who did not choose the share option amounts to €21,248,690.40 and will also be paid on 6 July 2023. Upcoming Dividend • Jun 06
Upcoming dividend of €1.40 per share at 4.1% yield Eligible shareholders must have bought the stock before 13 June 2023. Payment date: 06 July 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.0%). Buying Opportunity • Mar 17
Now 20% undervalued Over the last 90 days, the stock is up 1.4%. The fair value is estimated to be €42.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings is also forecast to grow by 8.7% per annum over the same time period. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: €7.95b (down 1.2% from FY 2021). Net income: €100.0m (down 31% from FY 2021). Profit margin: 1.3% (down from 1.8% in FY 2021). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Specialty Retail industry in the United Kingdom. Buying Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be €46.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.4% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is also forecast to grow by 7.6% per annum over the same time period. Reported Earnings • Jul 28
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €500.0k from profit in 1H 2021). Profit margin: (in line with 1H 2021). Over the next year, revenue is forecast to stay flat compared to a 8.6% growth forecast for the industry in the United Kingdom. Announcement • Jul 28
Fnac Darty SA, Annual General Meeting, May 24, 2023 Fnac Darty SA, Annual General Meeting, May 24, 2023. Agenda: To consider executive changes. Upcoming Dividend • Jun 14
Upcoming dividend of €2.00 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 23 June 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of British dividend payers (5.0%). Higher than average of industry peers (3.1%). Reported Earnings • Feb 24
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €8.04b (up 7.4% from FY 2020). Net income: €145.0m (up 52% from FY 2020). Profit margin: 1.8% (up from 1.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Over the next year, revenue is forecast to stay flat compared to a 12% growth forecast for the retail industry in the United Kingdom. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS €3.61 (vs €4.34 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €7.49b (up 1.9% from FY 2019). Net income: €95.6m (down 17% from FY 2019). Profit margin: 1.3% (down from 1.6% in FY 2019). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 0.6% vs FY 2019 Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Mar 15
New 90-day high: €56.05 The company is up 9.0% from a price of €51.35 on 15 December 2020. Outperformed the British market which is up 5.0% over the last 90 days. Lagged the Specialty Retail industry, which is up 12% over the same period. Simply Wall St's valuation model estimates the intrinsic value at €46.67 per share. Reported Earnings • Feb 25
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €7.49b (up 1.9% from FY 2019). Net income: €95.0m (down 18% from FY 2019). Profit margin: 1.3% (down from 1.6% in FY 2019). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 0.6% vs FY 2019 Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 1.4%, compared to a 5.7% growth forecast for the Specialty Retail industry in the United Kingdom. Is New 90 Day High Low • Dec 24
New 90-day high: €53.13 The company is up 44% from its price of €36.82 on 25 September 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.04 per share. Is New 90 Day High Low • Dec 09
New 90-day high: €49.15 The company is up 37% from its price of €35.94 on 10 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.00 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €44.88 The company is up 27% from its price of €35.22 on 25 August 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.94 per share. Valuation Update With 7 Day Price Move • Oct 29
Market pulls back on stock over the past week After last week's 25% share price decline to €32.48, the stock is trading at a trailing P/E ratio of 12.1x, down from the previous P/E ratio of 16.1x. This compares to an average P/E of 26x in the Specialty Retail industry in the United Kingdom. Total return to shareholders over the past three years is a loss of 60%. Is New 90 Day High Low • Oct 29
New 90-day low: €32.48 The company is down 2.0% from its price of €32.98 on 30 July 2020. The British market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.22 per share. Is New 90 Day High Low • Oct 05
New 90-day high: €39.28 The company is up 6.0% from its price of €37.10 on 07 July 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.44 per share. Is New 90 Day High Low • Sep 19
New 90-day high: €38.98 The company is up 6.0% from its price of €36.68 on 19 June 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.34 per share. 