B&M European Value Retail S.A. Trading Statement (2196U)

TIDMBME

RNS Number : 2196U

B&M European Value Retail S.A.

28 July 2020

28 July 2020

B&M European Value Retail S.A.

Trading Update

B&M European Value Retail S.A., ("the Group") the UK's leading general merchandise value retailer, today provides a trading update relating to its Year To Date performance.

On 1 July 2020, the Group announced that it had made a strong start to the new financial year and, against a highly uncertain economic backdrop and continued impacts from Covid19, B&M was well placed to continue to grow profitably in the UK and continue to develop and prove the proposition in France.

The Group's current expectation for the six months to 26 September 2020 ("H1 FY21") Adjusted EBITDA(1) (on a pre-IFRS 16 basis) is that it is likely to be in the range of GBP250m to GBP270m. The average analysts' consensus forecast(2) for H1 FY21 Adjusted EBITDA(1) (on a pre-IFRS 16 basis) is GBP208.1m.

There remains considerable uncertainty in relation to both the progression of Covid-19 and the economic outlook and it is therefore hard to predict trading levels for the second half of the year.

The safety of the Group's colleagues and customers remains the key priority whilst working hard to continue to meet customers' needs in these difficult times. A more detailed update at the Half Year Results announcement is scheduled for 12 November 2020.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

1. The Directors consider adjusted EBITDA figures to be more reflective of the underlying business performance of the Group and believe that this measure provides additional useful information for investors on the Group's performance. Adjusting items are the effects of derivatives, one off refinancing fees, foreign exchange on the translation of intercompany balances and the effects of revaluing or unwinding balances related to the acquisition of subsidiaries.

2. The consensus estimate for Adjusted EBITDA is based upon the average of 9 analyst publications that provide H1 FY21 estimates.

B&M European Value Retail S.A.

For further information please contact [phone] ext 5766

Simon Arora, Chief Executive

Paul McDonald, Chief Financial Officer

Steve Webb, Investor Relations Director

[e-mail]

Media

For media please contact [phone]

Maitland, Daniel Yea

[e-mail]

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July 28, 2020 02:00 ET (06:00 GMT)