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THG
THG (THG) investor relations material
THG Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 TU earnings summary13 Jan, 2026
Executive summary
Achieved record H2 and strongest quarter of the year, with results 14% above top-end guidance and Q4 group revenue growth of 7% year-over-year, entering 2026 with strong momentum.
Full-year growth delivered for the first time since 2021, attributed to strategic focus on core categories and territories, reversing a decline in H1.
Both Beauty and Nutrition segments outperformed, with strong trading momentum expected to continue into Q1 2026.
Financial highlights
Q4 group revenue reached £527.4m, up 7% constant currency year-over-year, with November and December revenues up 8%.
FY 2025 group revenue was £1,716.0m, up 2.3% constant currency year-over-year.
THG Beauty Q4 revenue: £370.2m (+6.4% constant currency); THG Nutrition Q4 revenue: £157.2m (+8.5% constant currency).
Lookfantastic in UK and Ireland grew 16.2% in Q4.
Disposals and discontinued activities reduced Q4 revenue growth by 330bps and 290bps, respectively.
Outlook and guidance
High confidence in trading momentum for 2026, with continued focus on digital leadership and AI in beauty.
Nutrition segment to expand offline in the US with new listings at GNC and Kroger in H1 2026.
Free cash flow for FY26 expected in the £20–25 million range, with EBITDA consensus around £100 million.
FY 2025 adjusted EBITDA expectations remain unchanged and in line with consensus.
How do annualised disposals affect future revenue?
Detail Nutrition's margin protection strategies
Elaborate on Beauty's AI/virtual tool use
Whey price impact on annual profitability
Lookfantastic store expansion and halo effect
HMRC VAT case: current status and value due?
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Next THG earnings date
H2 202529 Apr, 2026
THG
Next THG earnings date
H2 202529 Apr, 2026
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Frequently asked questions
THG plc, operates as an online retailer and technology company in the United Kingdom, Europe, and internationally. The company operates through four segments: Health and Beauty; Psychological Testing; Tech Brands; and Liquor. It also offers products in various categories, including skincare, supplements, sports nutrition, accessories, makeup and hair care products, as well as fragrances. In addition, the company provides furniture in various categories comprising dining room furniture; bedroom furniture; kitchen dining sets; sofas; study and desk chairs; bar stools and tables. Further, it operates an online marketplace that offers apparel and accessories brands for women worldwide. THG plc was founded in 2004 and is based in Manchester, the United Kingdom.
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