Business
Trading Statement
Bunzl plc expects its 2025 adjusted operating profit to be in line with expectations, with an operating margin around 7.6%, demonstrating a moderation in the year-on-year operating margin decline in the second half. Group revenue is projected to grow between 2% and 3% at constant exchange rates, driven by acquisitions, while underlying revenue is expected to be broadly flat. The company completed the acquisition of Damito s.r.o. for EUR 14 million and its £200 million share buyback, with leverage anticipated to be just over 2.0 times at year-end. Looking to 2026, Bunzl anticipates moderate revenue growth and a slightly down year-on-year operating margin. Disclaimer*
About this update from Bunzl Plc
[{"type":"text","content":"\n\n17 December 2025\nBUNZL PRE-CLOSE STATEMENT\n2025 PROFIT IN-LINE WITH EXPECTATIONS\n \nBunzl plc, the specialist international distribution and services Group, is updating the market today prior to entering its closed period for the year ending 31 December 2025.\n \nDespite the ongoing macro economic challenges in our key end markets, we reiterate the 2025 adjusted operating profit guidance we first set out within our Q1 trading update. Group revenue in 2025 is expected to grow between 2% and 3%, at constant exchange rates, and to be broadly flat at actual exchange rates. Group revenue growth at constant exchange rates is expected to be driven by acquisitions, with broadly flat underlying revenue over the year. Despite the tougher comparatives, we expect to see good momentum over the final quarter, supported by the benefits of actions taken to improve our performance, including new business wins in North America. Group adjusted operating profit is expected to be in-line with expectations, with operating margin around 7.6%. We expect to demonstrate a moderation of the Group's year-on-year operating margin decline in the second half compared to the first half of the year, driven by: the benefit of actions taken in North America and Continental Europe to improve performance; easier comparatives in Continental Europe; and Nisbets synergy benefits.\n \nLooking ahead into 2026, uncertainties relating to the wider economic and geopolitical landscape are expected to continue. The Group expects moderate revenue growth in 2026, at constant exchange rates, driven by some underlying revenue growth and a small benefit from announced acquisitions. Group operating margin is expected to be slightly down year-on-year.\n \nIn October, Bunzl completed the acquisition of Damito s.r.o, a distributor of cleaning & hygiene, personal protective equipment and packaging in Slovakia. The acquisition establishes Bunzl's physical presence in Slovakia, and the business generated revenue of EUR 14 million (c.£12 million) in 2024. We have also completed our £200 million 2025 buyback and continue to expect leverage to be just over, and towards, 2.0 times at the end of 2025.\n \nCommenting on today's announcement, Frank van Zanten, Chief Executive Officer of Bunzl, said:\n \n\"Despite what has remained a challenging market, ...