Stelrad Group (SRAD) Trading update summary

Trading performance and outlook

• Trading year-to-date aligns with management expectations, with no change to the full-year outlook given in March 2026.

• Profitability has improved due to ongoing commercial and operational initiatives, offsetting weaker market demand.

• Supply chain and inventory remain robust, with no anticipated disruption from Middle East events.

• Flexible, low-cost manufacturing and strong customer service support confidence in meeting full-year targets.

• Long-term market attractiveness is underpinned by structural growth drivers and decarbonisation trends.

Strategic positioning and market leadership

• Holds a 24.2% share by volume in the European steel panel radiator market (excluding Russia and Belarus).

• Market leader in six countries and top three in twelve additional territories.

• Five core brands and a broad product range serve over 500 customers in more than 40 countries.

• Operations optimised for agility and market share gains, supported by a strong manufacturing footprint.

• Long-standing customer relationships, with top five customers served for over twenty years.

Upcoming events

• Interim results for the six months ending 30 June 2026 will be announced on 7 August 2026.