Overview of performance in 2025¹

In 2025, we gained market share and delivered a strong operational performance with profit growth ahead of sales. Alongside this, we continued to invest in our strategic initiatives which is helping our trade customers win more business while making our operations more efficient and productive.

Highlights¹:

• Group revenue increased by 4.1% to £2,418.0m.
  • UK revenue was 3.8% ahead of last year reflecting balanced pricing and volumes along with ongoing market share gains, despite continued kitchen market headwinds.
  • International revenue grew 13.5% with good progress in developing Howdens’ differentiated model in France and the Republic of Ireland.
• Gross margins improved by 110bps to 62.7%, supported by revenue growth, ongoing sourcing and manufacturing efficiencies helping offset cost inflation
• Delivered £41m of productivity and efficiency savings in the total cost base
• Profit before tax was 5.1% ahead of last year at £344.9m, and Basic EPS was 7.9% ahead.
• Strong cash generation and the Group continues to maintain a robust balance sheet.
• Proposed final dividend of 16.9p up 3.7%, bringing the total for the year to 21.9p.
• New £100m share buyback announced for 2026.

¹ The information presented relates to the 52 weeks to 27 December 2025 and 52 weeks 28 December 2024 unless otherwise stated

² Comprises Howdens’ depots in France, Belgium and the Republic of Ireland (ROI).