SIG (SHI) Trading Update summary

Financial performance and trading update

• Group revenue reached £1,306m for H1 2025, with 1% like-for-like growth and underlying operating profit expected at approximately £15m, up from £12m in H1 2024.

• UK Interiors and UK Roofing segments showed strong performance, with 8% and 5% like-for-like sales growth respectively.

• European markets remained subdued, but operational initiatives enabled outperformance relative to local conditions.

• Net debt at 30 June 2025 is expected to be £525m, with liquidity of £171m, including £81m in cash and an undrawn £90m RCF facility.

• Free cash outflow was around £10m, with working capital initiatives offsetting most of the usual seasonal increase.

Strategic initiatives and outlook

• Ongoing productivity and cost-saving measures are supporting margin resilience and long-term operating platform strength.

• Targeted investments continue to back strategic growth opportunities.

• Full-year 2025 underlying operating profit is expected to be in line with market expectations, with a forecast range of £30m to £35m.

• No significant improvement in market demand is anticipated for H2, but the business is positioned to benefit from eventual recovery.

• CEO succession is underway, with Pim Vervaat joining as CEO and Chair designate on 1 October 2025.