London · Delayed Price · Currency is GBP · Price in GBX Victoria Earnings Call Transcripts
Fiscal Year 2026
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Revenue fell 7% year-over-year due to lower volumes, but EBITDA rose to £53.5 million with improved margins. Major cost-saving and restructuring initiatives are underway, including the Balta move to Turkey and the V4 tile project, supporting future earnings growth.
Fiscal Year 2025
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FY 2025 saw subdued demand and flat revenues, but EBITDA improved in H2 due to cost savings. Successful refinancing extended debt maturities and increased liquidity, while £70 million in additional savings are targeted over 18 months. Market conditions are stabilizing, with margin recovery expected.
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Demand remained subdued but stable, with revenue down 9% and EBITDA margin at 8.8%. Cost-saving and asset sales, including the Graniser disposal, improved liquidity and reduced leverage, while management targets GBP 32 million in annualized savings by FY 2026.