Princes Group (PRN) investor relations material

Executive summary

• Revenue rose 6% year-over-year to £506.6 million for Q1 2026, driven by perimeter expansion and resilient core category performance.

• Adjusted EBITDA increased 17% to £38.2 million, with margin expanding to 7.5% from 6.8% in Q1 2025.

• Strong free cash flow generation of £34 million (FCF conversion 89%) further strengthened the net cash position to £344 million.

• Integration of recent acquisitions, including Plasmon, is progressing well, supporting growth in Italian Products.

• Positive trading momentum continued into Q2, with April performance ahead year-over-year.

Financial highlights

• Revenue: £506.6 million, up 6% year-over-year.

• Adjusted EBITDA: £38.2 million, up 16.8% year-over-year.

• Adjusted EBITDA margin: 7.5% (Q1 2025: 6.8%).

• Net cash: £344 million at 31 March 2026 (£433 million excluding IFRS 16 liabilities).

• Free cash flow: £34 million, FCF conversion rate 89%.

Outlook and guidance

• Profitability improvement expected through FY 2026, supported by efficiency measures and synergy delivery.

• Trading in early FY 2026 in line with management expectations; underlying demand remains resilient.

• Further new product launches and innovation pipeline scheduled for Q2 and H2 2026.

• Management expects to complete at least one acquisition in the near term.