Videndum (VID) Trading update summary

Leadership update

• Jan Peter Tewes appointed as Group Chief Executive Officer and Director, effective 17 August 2026.

• Jan Peter brings experience from Villeroy and Boch, Ideal Standard, Mars, and Grohe.

• Stephen Harris will return to his role as Non-Executive Chairman from the same date.

Trading update and financial performance

• Revenues for H1 2026 expected to be in line with prior year on a like-for-like basis.

• Adjusted EBITDA for H1 2026 anticipated to be modestly ahead of H1 2025.

• Net debt at 30 June 2026 was £39 million, including £24 million in finance leases.

• Group maintains good liquidity.

Outlook and operational challenges

• H1 trading was challenging due to Middle East conflict, higher logistics costs, and delayed purchasing.

• Production issues at the Feltre facility deferred some sales to H2, with most issues now resolved.

• Management actions include improving commercial execution, optimizing inventory, and reducing costs.

• Full year adjusted EBITDA now expected between £15 million and £18 million.