The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: James Anstead - Barclays Services Corp - Analyst
: Yeah, good morning, Stephan, Willem. Two questions, if that's right. Firstly, on Pepco's like-for-like, can you give us any geographic flavor in terms
of Western Europe versus Eastern Europe? That would be helpful. And secondly, on gross margin, you've had quite a nice expansion in the third
Question: James Anstead - Barclays Services Corp - Analyst
: That's very helpful. Thank.
Question: Alison Lygo - Deutsche Bank AG - Analyst
: Morning, thank you. James actually asked a few questions I was going to kick off with. So maybe could you talk a bit about the -- that delta in terms
of the like-for-like growth and the like-for-like growth, excluding FMCG? It's probably just a bit larger of a delta than I might have expected, implying
maybe a bit larger of an FMCG business within Pepco. Is that really just coming through the Pepco Plus format? Could you kind of unpick that a
little bit in terms of how you're expecting that to kind of progress as you exit FMCG?
And then maybe just talk a little bit about the new stores that are going down in kind of Q4, a little bit of a step-up there still into CEE and just
interested in terms of where exactly they're kind of going and how you're seeing them performing in terms of the new space and anything that's
surprising you there?
Question: Alison Lygo - Deutsche Bank AG - Analyst
: That's very clear. Thank you.
Question: Byron Jackson-Miller - Foord Asset Management - Analyst
: Morning guys. Thanks for the time this morning. Maybe just a quick one. Obviously, the quarter turned out slightly different to the guidance coming
out of half year. Just some -- any reflections you can give on how much of that was Easter or seasonality coming out of that half versus weather in
the region versus you've just seen increased competitiveness or a tougher consumer in the second part of Q3. Thanks.
Question: Byron Jackson-Miller - Foord Asset Management - Analyst
: Thanks guys, understood, agreed with another strong quarter. Hold on.
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JULY 10, 2025 / 7:30AM, PCOP.WA - Q3 2025 Pepco Group NV Trading Statement Call
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