Ultimate Products (ULTP) investor relations material

Financial performance

• FY26 unaudited group revenues were £144.9m, down 3.5% from FY25, mainly due to subdued consumer demand and a planned reduction in non-core third-party clearance sales.

• Sales of proprietary brands increased by 5.3% to £128.4m, reflecting a strategic focus on brand equity.

• Adjusted EBITDA was £10.0m, with gross margin slightly lower at 22.6% compared to 23.2% in FY25.

• Operating costs remained stable at £22.8m, including £760,000 in restructuring costs for commercial function transformation.

• Net bank debt at year-end was £8.6m, with a net bank debt/adjusted EBITDA ratio of 0.9x, below the targeted 1.0x.

Trading update and outlook

• H2 revenue was broadly flat year-on-year, improving from a 5.8% decline in H1.

• The Board expects FY27 trading to be similar to FY26 due to ongoing subdued consumer demand and geopolitical uncertainty.

• Continued investment in operational capabilities and commercial function is expected to position the group for future growth.

• Focus remains on growing proprietary brands and market share despite challenging trading conditions.

Brand and market position

• Proprietary brands such as Salter and Beldray are central to growth strategy, with nearly 80% of UK households owning at least one product.

• Products are sold through over 300 retailers in more than 30 countries, including major online marketplaces.

• The group specialises in small domestic appliances, housewares, laundry, and audio categories.

• The company employs over 300 staff and is certified as a Great Place to Work®.