REG - Brickability Group - Pre-Close Trading Update

BrickabilityAnnouncement

24/04/2025 07:02

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RNS Number : 9410F  Brickability Group PLC  24 April 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain. 

 

24 April 2025

Brickability Group plc

 

("Brickability", the "Group" or the "Company")

 

Pre-Close Trading Update

Full year performance ahead of market expectations

Brickability Group plc (AIM: BRCK), a leading construction materials
distributor, is pleased to provide a pre-close trading update for the
financial year ended 31 March 2025 ("FY25").

Group revenue for the full year is expected to be approximately £637 million,
an increase of c.7% over the prior year (FY24: £594.1 million) and c.1%
higher on a like-for-like ("LFL") basis. This outturn reflects good momentum
in trading throughout the second half of the financial year, notwithstanding
subdued market conditions, and a strong final quarter in the Group's
Contracting Division where a number of projects within its specialist cladding
and fire remediation businesses were delivered ahead of schedule and prior to
the FY25 year-end.

FY25 Group adjusted EBITDA(1) is expected to be ahead of market
expectations(2) at approximately £50.0 million, c.11% ahead of the prior
period (FY24: £44.9 million).

The Group remains in a strong financial position, with leverage(3) as at 31
March 2025 expected to be approximately 1.14x, a reduction from both the year
ended 31 March 2024 and the half year ended 30 September 2024.

The Group will notify the date of publication of its results for the twelve
months ended 31 March 2025 in due course.

Frank Hanna, Chief Executive Officer, said:

"The well-diversified revenues and strong profitability delivered in FY25 see
the Group move into FY26 with an increasingly healthy financial position, and
a business that is built for material growth as our end markets recover. In
that regard, we believe that further reductions in UK interest rates would
assist positive momentum in housing starts and the RMI market. At the same
time, the Board remains vigilant of ongoing volatility in global capital
markets and any potential impact on UK housebuilding.

"We look forward to providing further detail on our recent progress in our
FY25 results."

 

(1) Adjusted EBITDA is defined as earnings before interest, tax, depreciation
and amortisation, share option expense, acquisition costs and exceptional
items.

(2) Company compiled analyst consensus, prior to this announcement, is for
FY25 adjusted EBITDA of £48.85m.

(3) Leverage is defined as net debt (pre-IFRS and excluding lease liabilities
and deferred/contingent acquisition consideration) divided by adjusted EBITDA.

 

-ENDS-

 

 Enquiries:

 Brickability Group PLC

 John Richards, Chairman                                           Via Burson Buchanan

 Frank Hanna, Chief Executive Officer

 Mike Gant, Chief Financial Officer

 Cavendish- Nomad and Sole Broker

 Ben Jeynes, George Lawson, Elysia Bough - Corporate Finance       +44 (0) 20 7220 0500

 Michael Johnson, Sunila De Silva - Sales / ECM

 Burson Buchanan                  +44 (0) 20 7466 5000

 Mark Court                       brickability@buchanancomms.co.uk

 Stephanie Whitmore

 Abby Gilchrist

 

About Brickability

Brickability Group PLC is a leading distributor and provider of specialist
products and services to the UK construction industry. The business comprises
four divisions: Bricks and Building Materials, Importing, Distribution and
Contracting. With an agile, de-centralised, capital-light business model,
supported by a strong balance sheet, Brickability leverages the skills of its
people company-wide to effectively service the complex and evolving needs of
the construction industry.

 Founded in 1985, the Group has grown organically through product
diversification and geographic expansion, as well as through the acquisition
of specialist businesses that support its long-term strategy for growth.
Today, the Group encompasses a diverse portfolio of market-leading brands and
a dedicated team of over 800 skilled professionals, led by a management team
with deep-rooted knowledge and experience in the UK and European construction
industries.

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