ME Group International (MEGP) Trading Update summary

Trading performance

• Achieved record H1 profitability, with profit before tax up 14% (17% at constant currency) and revenue up 2% (4% at constant currency), driven by strong laundry business performance.

• Laundry revenue rose 13.3% (15.7% at constant currency), with 550 net new machines installed, supporting the goal of 1,200 new installations in FY 2025.

• Photobooth revenue declined 3.3% due to a resolved technical printer issue, with supplier compensation received; on track to install 3,200 next-generation photobooths in FY 2025.

• Acquired a Belgian photo ID competitor, adding 116 profitable photobooths and expanding geographic reach; acquisition funded from cash reserves.

Financial position

• Net cash position increased 69.1% to £36.2 million as of 30 April 2025, reflecting strong cash generation and predictable revenue streams.

• Maintains a robust balance sheet, supporting ongoing investment and expansion.

Outlook and strategy

• Expects FY 2025 profit before tax between £76 million and £80 million, with performance typically weighted to the second half.

• Focus remains on expanding core photobooth and laundry operations, leveraging competitive advantages and long-term contracts.

• Interim results for H1 2025 will be published in mid-July 2025.