2025 Half Year Results

5 August 2025

Travis Perkins plc, the UK’s largest distributor of building materials, announces its half year results for the 6 months to 30 June 2025

Focus on stabilising business performance

• Group revenue declined by (2.1)% driven primarily by operational challenges in the early part of the year

• Actions to drive volume in Merchanting taking effect, with Merchanting like-for-like sales (1.0)% in Q2 (versus (3.2)% in Q1) and market share decline arrested

• Proactive management of overheads to mitigate cost inflation and increased employer national insurance contributions

• Further progress in Toolstation UK with operating profit increasing 50% to £21m

• Overall, lower volumes in Merchanting resulted in adjusted operating profit of £63m (2024: £83m)

• Statutory operating profit of £59m (2024: £48m)

• The Group expects to deliver a full year adjusted operating profit (including £8m of property profits) broadly in line with current market expectations*

• New leadership structures implemented and highly experienced CEO, Gavin Slark, to join the Group on 1 Jan 2026

Continued strong progress on cash generation

• Net debt before leases reduced by a further £88m to £103m driven by substantial working capital inflow and proceeds from sale of Staircraft

• Net debt / adjusted EBITDA reduced by 0.4x to 2.3x through working capital improvements, discipline on capital investment and exit of Toolstation France

(1) Alternative performance measures are used to describe the Group’s performance. Details of calculations can be found in the notes listed.

(2) For continuing businesses only. The Toolstation France business is treated as a discontinued operation.

* Company compiled consensus published as at 29 July 2025 showed FY25 adjusted operating profit (including property profits) with a range of £135m to £148m and a mean of £141m.

See link: https://www.travisperkinsplc.co.uk/investors/analyst-consensus/

Chair Geoff Drabble, commented:

“The first quarter was difficult with a continued trend of market share loss and revenue decline in Merchanting. However, I was encouraged by the response of the business to management actions to drive a more customer-focused approach. In the second quarter we delivered improved revenue performance and stabilised Merchanting market share and these trends have continued into July.

We will build on this momentum in the second half as we deploy further system enhancements that put the difficult Oracle implementation behind us. The strong performance of Toolstation UK, which operates in similar markets to the Group’s other businesses, demonstrates our potential without internal distractions.

Whilst the market outlook for the second half remains uncertain, the Board anticipates that the Group will deliver a full year result broadly in line with current market expectations*.”

Analyst Presentation

Management are hosting a results presentation at 8.30am. For details of the event please contact the Travis Perkins Investor Relations team as below. The presentation will also be available via a listen-only webcast – please register at the following link:

https://travis-perkins-2025-half-year-results-presentation.open-exchange.net/

Enquiries:

ENDS