Future (FUTR) Trading Update summary

Financial performance and outlook

• FY24 performance expected to align with market consensus: revenue of £786m and adjusted operating profit of £220m.

• Achieved a return to organic revenue growth in H2 2024, maintaining strong financial characteristics.

Strategic initiatives and portfolio optimisation

• Progressing with the Growth Acceleration Strategy, focusing on portfolio optimisation for sustainable organic growth.

• Initiated closure of non-core or low/no-growth assets in Q4, including external video production, selected events, and some print/digital brands, representing about £15m in annualised revenue with below-average margins.

Capital allocation and shareholder returns

• £45m share buyback programme underway, with over £30m repurchased to date.