2025 Full Year Results

17 March 2026

Travis Perkins plc, the UK’s largest distributor of building materials, announces its full year results for the year to 31 December 2025

2025 adjusted operating profit at £133m with a significantly enhanced financial position

Business performance stabilised

• Group like-for-like revenue growth of 0.3%, with the sharper competitive proposition in H2 offsetting the impact of operational challenges at the start of the year

• Adjusted operating profit of £133m (2024: £152m), reflecting lower margins in Merchanting

• Strong progress in Toolstation UK with adjusted operating profit increasing 29% to £44m

• Proactive management of overheads to mitigate cost inflation and increased employer national insurance, with significant restructuring of central and regional roles in 2025

• Operating loss of £97m (2024: profit of £2m) reflecting the trading performance and adjusting items of £222m (£8m cash items) related to impairments of Toolstation Benelux, CCF and specific Merchanting branches; the sale of Staircraft; and restructuring actions

• Gavin Slark joined the Group as a sector-experienced CEO on 1 January 2026

Robust balance sheet provides flexibility and resilience

• Net cash before leases of £1m driven by £136m working capital inflow, proceeds from the divestment of Staircraft and a disciplined approach to capital expenditure

• Over £800m of liquidity headroom through cash holdings (£427m) and undrawn committed facilities (£390m)

• £250m bond fully refinanced with investment-grade US private placement notes. No significant refinancing requirements until 2028.

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

Gavin Slark, CEO, commented:

“I am delighted to have joined as CEO of Travis Perkins plc. It is a business I am very familiar with from my time in the industry and that has enabled me to hit the ground running since I joined at the start of January. I have been immediately impressed with the energy and enthusiasm that exists across all parts of the Group to rebuild our capabilities and performance and enhance our standing as the UK’s largest distributor of building materials.

We have fantastic brands and locations, complemented by a resilient and committed workforce who want to see us back at our best. I want to thank Geoff Drabble, our Chairman, for stepping in and supporting the management team last year and for putting in place the foundations of our recovery. I also want to thank all our colleagues for their dedication and effort in responding to these changes.

We have made significant operational progress over the past year. We have a fully resourced senior management team in place, have successfully overcome the difficulties associated with implementing a new IT system and have taken action to reduce the administrative overheads in our central and regional teams. However, it is the strength of our balance sheet that now provides the necessary resilience and flexibility to underpin our competitiveness in what remains a challenging market backdrop for UK construction activity. We will maintain our disciplined and selective approach to capital allocation as we navigate our way back to better market conditions.

I am looking forward to working with all our colleagues to develop and communicate our strategy for the Group as we look to the future. I have no doubt that we can restore the Group’s performance and create significant shareholder value over the medium term.”

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-fy-results-25.open-exchange.net/webcast

Enquiries:

ENDS