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Cake Box (CBOX) investor relations material
Cake Box H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary1 Dec, 2025
Executive summary
Group revenue increased 53.5% year-over-year to £28.8m, driven by strong organic growth, new store openings, digital enhancements, and the maiden contribution from Ambala.
Underlying EBITDA rose 33.3% to £4.6m, supported by operational efficiencies and digital sales growth, with Ambala contributing £0.4m.
11 new stores opened in H1, including 2 Ambala and 9 Cake Box stores, expanding the estate to 284 stores.
Like-for-like franchise sales grew 6.3% year-over-year, up from 2% in the prior year.
Digital sales and customer engagement showed robust growth, with online sales up 25.9% and a 29% increase in the subscription database.
Financial highlights
Group sales grew 53.5% year-over-year to £28.8m, with Cake Box franchise like-for-like sales up 6.3%.
Underlying EBITDA rose 33.3% to £4.6m; underlying profit before tax was £2.7m, impacted by higher interest costs post-Ambala acquisition.
Free cash flow was £0.8m, and net debt increased to £11.6m, reflecting acquisition funding and capex.
Dividend per share increased 5.9% to 3.6p.
Basic EPS fell 15.1% to 4.40p, reflecting increased shares in issue and higher interest expense.
Outlook and guidance
H2 FY26 revenues and profits expected to exceed H1, following seasonal trends and a strong start to the second half.
On track to open 25 new Cake Box and 10 Ambala franchise stores by year-end.
Digital sales momentum continues, with October online sales up 17.4% year-over-year.
Confident in delivering year-on-year growth in line with market expectations despite a challenging consumer environment.
Ambala acquisition's full PBT/EPS impact
Ambala's margin improvement timeline
Future cash flow for planned capex
Ambala's path to target EBITDA margin?
Debt reduction vs. new growth investment priority?
Impact of CRM/loyalty on customer retention?
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Frequently asked questions
Cake Box Holdings Plc operates a chain of retail outlets specializing in egg-free cakes and desserts. The company designs and sells celebration cakes for birthdays, weddings, and other events through franchised stores and an e-commerce platform. It serves customers throughout the United Kingdom. The company is headquartered in Enfield, United Kingdom, and its shares are listed on the AIM.
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