Spire Healthcare Group (SPI) Trading update summary

Trading performance and revenue trends

• Trading for the first four months of 2026 was in line with expectations, with strong growth in private patient revenue, especially self-pay, and NHS revenue performing as anticipated.

• NHS commissioning plans reset in April 2026, with over 85% of volumes agreed, supporting strong growth into Q1 FY27.

• Primary Care and integrated referral activity continued to perform positively.

Efficiency and cost management

• Progress toward the FY26 £30m savings target is on track, with most initiatives underpinned.

Profit forecast and outlook

• FY26 Group adjusted EBITDA is targeted to be broadly in line with FY25, reaffirming previous guidance.

• The 2026 profit forecast remains valid and has been properly compiled based on stated assumptions.