Hilton Food Group (HFG) Trading Update summary

Trading performance

• Volumes and sales are ahead of last year across all three operating regions, with trading in line with expectations.

• UK & Ireland outperformed the market, aided by strong BBQ and Easter trading despite raw material inflation.

• Europe saw continued strength in core meat and easier meals, with volumes and revenue up year-on-year.

• APAC experienced volume growth at more normalized levels compared to a strong prior year.

• Progress continues on long-term partnerships with Walmart Canada (early 2027) and NADEC Saudi Arabia (H2 2026).

Sustainability and strategy

• The Sustainable Protein Plan remains central, with ambitious targets for People, Planet, and Product.

• The second standalone Sustainability Report was published, detailing progress in the final year of the 2025 plan.

Outlook and guidance

• Positive trading continues despite macroeconomic uncertainty, with confidence in delivering full-year earnings growth.

• Medium-term growth is supported by ongoing investment in new and existing geographies.

• Adjusted PBT consensus for 2025 is £76.8-81.0m.

• Interim results for the 26 weeks ending 29 June 2025 will be published on 3 September 2025.