Dixons Carphone : 1Q 2018/19 Trading Statement

06 Sep 2018

• Group like-for-like¹ revenue flat, in line with expectations
  • Group online revenue up 13%, with 2.6ppt increase in penetration to 21.4%
• UK & Ireland like-for-like revenue flat
  • Electrical like-for-like flat. Maintained leading share position. Growth in consumer electronics supported by a successful World Cup offer against softer white goods and computing markets
  • Mobile like-for-like down 1%. Maintained leading market position. Reduction in postpay as anticipated but continued share gains in SIM Only and SIM Free
• Solid International performance
  • Nordics like-for-like revenue flat with good share gains driven by better availability
  • Greece like-for-like revenue up 9%, strongly outperforming the market
• Full year PBT guidance of around £300m and all other guidance for the year remains unchanged

Alex Baldock, Group Chief Executive

"First quarter performance was in line with expectations. We've maintained or grown our leading market positions, and our full year PBT guidance of around £300m remains unchanged.

We've made good progress in setting a clear long-term direction for the business, one that sharpens our focus on the core, and that better joins up both our offer to customers and our business behind the scenes. I look forward to giving a fuller update on our plans and progress in December."

1Q 2018/19 revenue	Reported revenue % change	Local currency % change	Like-for-like1 % change
UK & Ireland	(2)%	(2)%	0%
Nordics	(2)%	1%	0%
Greece	11%	11%	9%
Group	(2)%	(1)%	0%

Note: UK&I electrical like-for-like revenue flat (reported revenue flat). UK mobile like-for-like revenue (1)% (reported (7)%)

¹ Like-for-like revenue is calculated based on headline store and internet sales using constant exchange rates. New stores are included where they have been open for a full financial year both at the beginning and end of the financial period. Revenues from franchise stores are excluded and closed stores are excluded for any period of closure during either period. Customer support agreement, insurance and wholesale revenues along with revenue from non-retail businesses are excluded from like-for-like calculations.

Next announcement

The Group will publish its interim results on Wednesday 12 December 2018

For further information

Assad Malic
Group Corporate Affairs Director
[phone]

Mark Reynolds
Head of Investor Relations
[phone]

Amy Shields
Head of External Communications
[phone]

Tim Danaher, Helen Smith
Brunswick Group
[phone]

Information on Dixons Carphone plc is available at www.dixonscarphone.com
Follow us on Twitter: @dixonscarphone

About Dixons Carphone:

Dixons Carphone plc is Europe's leading specialist electrical and telecommunications retailer and services company, employing over 42,000 people in nine countries.

Focused on helping customers navigate the connected world, Dixons Carphone offers a comprehensive range of electrical and mobile products, connectivity and expert after-sales services from Team Knowhow.

Dixons Carphone's primary brands include Currys PC World and Carphone Warehouse in the UK & Ireland, Elkjøp, Elkjøp Phonehouse, Elgiganten, Elgiganten Phone House, Gigantti in the Nordic countries, Kotsovolos in Greece, and Dixons Travel in a number of UK airports as well as Dublin and Oslo. Our key service brand is Team Knowhow in the UK, Ireland and the Nordics.

Business-to-business (B2B) services are provided through Connected World Services, Currys PC World Business and Carphone Warehouse Business. Connected World Services aims to leverage the Group's existing expertise, operating processes and technology to provide a range of services to businesses.

Certain statements made in this announcement are forward-looking. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward-looking statements. Unless otherwise required by applicable laws, regulations or accounting standards, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Information contained on the Dixons Carphone plc website or the Twitter feed does not form part of this announcement and should not be relied on as such.