McBride (MCB) H2 2025 earnings summary

Executive summary

• Achieved strong financial performance with sustained profit levels and a stronger business profile, supporting the reinstatement of annual dividends after five years.

• Business transformation and operational improvements have doubled EBITDA returns from historic levels and normalized the balance sheet, with the transformation programme delivering positive results and £50m net benefits on track.

• Maintained high service levels, improved sustainability metrics, and continued progress on strategic growth agenda.

Financial highlights

• Group revenue for FY2025 was £926.5m, up 0.7% at constant currency, but down 1.9% on actual basis due to currency effects.

• Adjusted operating profit held at £66.1m, similar to last year.

• Adjusted EBITDA of £85.8m, margin steady at 9.3%.

• Free cash flow reached £93.9m; net debt reduced to £105.2m, with net debt cover improved to 1.2x from 1.5x.

• Dividend of 3.0p per share recommended for FY2025.

Outlook and guidance

• Solid start to the new financial year with volumes in line with expectations and a robust pipeline of new business and product launches.

• Continued focus on operational efficiency, transformation program, and cost control to support midterm ambition of 10% EBITDA.

• Leadership exploring investment options to scale and create value for shareholders, supported by a strong financial position.