United Kingdom · Delayed Price · Currency is GBP · Price in GBX Ultimate Products Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 6% year-over-year, slightly outperforming guidance, as branded sales grew in Europe but UK and online segments lagged. Operational efficiencies and a focus on core brands are offsetting inflationary pressures, with profitability in line with consensus.
Fiscal Year 2025
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FY25 saw a 3% sales decline and a 14% drop in gross profit, mainly from higher freight costs, but international sales grew 42%. Management is focused on sales function improvements, productivity gains, and maintaining guidance for FY26, with stronger growth expected in FY27.
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FY25 EBITDA is forecast at ~£12.5m, below £14.3m consensus, as U.K. softness and deferred European orders weigh on revenue and margins. The FY26 order book is down 7.5%, prompting a cautious outlook and renewed focus on sales execution.
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H1 revenue fell 6% amid UK consumer weakness and air fryer normalization, while Europe grew and shipping costs weighed on EBITDA. FY adjusted EBITDA guidance remains in line with market expectations, supported by improving H2 trends.
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Sentiment among retailers is highly risk-averse, impacting order growth and leading to a cautious FY25 EBITDA guidance of £14–16 million. International expansion, product launches, and automation are expected to support future growth, while shipping and regulatory costs remain key challenges.
Fiscal Year 2024
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FY24 revenue, adjusted EBITDA and statutory profit declined amid air-fryer normalization, destocking and weak UK demand, while gross margin held at 26%. European growth and productivity underpin the outlook, despite a £2m H1 FY25 freight headwind.