Slide 1: FY25 Half-Year Results
everyday cleaning products, expertly made FY25 Half-Year Results McBride plc 25 February 2025
Slide 2: Agenda
Agenda 1 Headlines Pages 3 to 4 Our speakers today 2 Overview Pages 5 to 12 3 Financial Review Pages 13 to 21 4 Outlook Pages 22 to 23 Chris Smith Mark Strickland 5 Chief Executive Officer Chief Financial Officer Q&A Page 24 McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning p
Slide 3: 1. Headlines
1. Headlines McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 3
Slide 4: Headlines
Headlines Continued revenue growth, profitability improvement and net debt reduction • First half revenue £471.4m (+2.9% at constant FX) • Adjusted operating profit up £1.5m (+8.1% at constant FX) • Private label market continued to grow, share steadying • Adjusted PBT up £4.3m and adjusted basic EP
Slide 5: 2. Overview
2. Overview McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 5
Slide 6: Household Market Overview
Household Market Overview Private label gained market share, with McBride laundry growth outperforming the market • Overall market returns to growth in calendar year 2024; • McBride laundry leadership position developing well, private label growth ahead of market again with further volume share grow
Slide 7: Divisions – Liquids
Divisions – Liquids 57.0% of Group revenue Significant new contract adding to private label growth Strategic focus: Cost leadership • Volumes grew 5.3% supported by new contract £268.9m +£2.5m / +0.9% £19.4m £(3.4)m / (14.9)% • Private label volume growth; further share gain, especially in laundry •
Slide 8: Divisions – Unit Dosing
Divisions – Unit Dosing 25.1% of Group revenue Operating profit expansion from volume growth and improved efficiencies Strategic focus: Product leadership • Doses volumes grew 6.6%, driven by both private label and £118.1m +£1.6m / +1.4% £10.7m +£2.8m / +35.4% contract manufacturing • Operational pe
Slide 9: Divisions – Powders
Divisions – Powders 9.3% of Group revenue Positive trajectory from margin management and operating effectiveness Strategic focus: Cost leadership • Stable volumes in tonnage terms £44.0m £(3.2)m / (6.8)% £4.1m +£0.9m / +28.1% • Revenue affected by lower demand from certain private label customers •
Slide 10: Divisions – Aerosols & Asia Pacific
Divisions – Aerosols & Asia Pacific 6.1% of Group revenue |2.5% of Group revenue Further geographic expansion; Volumes and contract activity continue significant new wins to drive growth Strategic focus: Product leadership Strategic focus: Cost and value leadership • Contract wins in Germany, Iberia
Slide 11: Transformation Programme
Transformation Programme Strong progress across all programmes with £50m net benefits on track Operating Systems Excellence (SAP S/4HANA) Service Excellence • Progressed into build phase; first go-live planned • Significant year-on-year improvements in customer service levels • Focus on business pre
Slide 12: Sustainability
Sustainability Our commitment to carbon reduction is underpinned by three strategic initiatives Operating sustainably Fit for the future products Responsible sourcing and supplier engagement H1 FY25 progress: H1 FY25 progress: H1 FY25 progress: • C ontinued improvement in energy efficiency, with • M
Slide 13: 3. Financial Review
3. Financial Review McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 13
Slide 14: Financial Highlights
Financial Highlights Financial results further evidence of sustained higher performance £m unless otherwise stated H1 FY25 H1 FY24 Revenue growth of £3.4m, up 2.9% at constant Revenue 471.4 468.0 currency Adjusted operating profit 32.0 30.5 Adjusted operating profit margin (%) 6.8% 6.5% Adjusted EBI
Slide 15: Group Adjusted Operating Profit Bridge
Group Adjusted Operating Profit Bridge • £5.9m improvement in gross profit driven by volume increase • Distribution costs and administrative expenses impacted by: through continued private label growth and new contract − Underlying inflation of 2.5% manufacturing business − Volume impact – distribut
Slide 16: Divisional Performance
Divisional Performance • Group revenue up 0.7%: • Group adjusted operating profit improved by £1.5m: − Liquids +0.9%: supported by volume growth following − Liquids: profit margins impacted by ongoing cost inflation and new contract adverse product mix; 7.2% return on sales − Unit Dosing +1.4%: stro
Slide 17: Costs
Costs Group input costs Distribution costs Administrative costs (% revenue) (% revenue) 9.4% 1.0% 1.0% 9.0% 8.7% 0.8% 8.2% 8.0% 6.9% 11.4% 11.8% 10.6% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 H1 FY23 H1 FY24 H1 FY25 H1 FY23 H1 FY24 H1 FY25 FY21 FY21 FY21 FY22 FY22 FY22 FY22 FY23 FY23 FY23
Slide 18: Other Financials
Other Financials Exceptional items £m Finance costs Capex and depreciation £m Pensions £m (underlying)(1) £m 32.6 1.9 1.8 1.9 27.8 3.3 24.7 0.6 11.4 10.8 78% 6.8 0.5 8.2 8.6 6.0 7.8 75% 6.1 73% 4.7 5.6 4.0 4.5 3.0 0.3 0.0 H1 FY23 H1 FY24 H1 FY25 H1 FY23 H1 FY24 H1 FY25 H1 FY23 H1 FY24 H1 FY25 H1 FY2
Slide 19: Net Debt Bridge
Net Debt Bridge • Net debt £13.9m lower than 30 June 2024 and £28.1m lower • Pension contributions of £2.4m included £0.4m of additional than 31 December 2023 profit-related deficit reduction contributions • Capital expenditure increased as the company’s debt levels • Taxation payments reflect signi
Slide 20: Funding Arrangements
Funding Arrangements Refinancing agreed November 2024 €200m sustainability-linked RCF €75m uncommitted accordion • Unsecured • For potential future acquisitions; or • Four-year maturity • Other financing needs, such as: − Option to extend by up to two years − Investments • Improved terms and conditi
Slide 21: Capital Allocation
Capital Allocation Investing in sustainable, profitable growth • [•] Net debt Investment (internal and M&A) Shareholder distributions • Target <1.5x adjusted EBITDA • Strategic imperative • Dividends − Efficiency • Exceptions for investment • Share buy-backs − Footprint expansion/increased capacity
Slide 22: 4. Outlook
4. Outlook McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 22
Slide 23: Outlook
Outlook Building a strong, resilient and reset McBride, poised for further success • Full-year adjusted operating profit in line with internal expectations • Private label volumes expected to maintain share due to cost‑of-living pressures • Materials costs stable; other inflation remains a headwind
Slide 24: 5. Q&A
5. Q&A McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 24
Slide 25: Appendices
Appendices 1. Income Statement 2. Segmental Reporting 3. Balance Sheet 4. Cash Flow 5. Funding and Liquidity McBride plc | FY25 Half-Year Results | 25 February 2025 everyday cleaning products, expertly made 25
Slide 26: Appendix 1: Income Statement
Appendix 1: Income Statement Constant currency H1 FY25 H1 FY24 y/y H1 FY24 y/y £m £m £m £m £m Revenue 471.4 468.0 3.4 458.3 13.1 Gross profit 174.3 170.9 3.4 168.4 5.9 Gross margin 37.0% 36.5% 0.5ppts 36.7% 0.3ppts Distribution costs (44.1) (40.8) (3.3) (40.0) (4.1) Administrative expenses (98.2) (9
Slide 27: Appendix 2: Segmental Reporting
Appendix 2: Segmental Reporting Constant currency H1 FY25 H1 FY24 H1 FY24 Revenue £m £m y/y £m y/y Liquids 268.9 266.4 0.9% 261.0 3.0% Unit Dosing 118.1 116.5 1.4% 113.9 3.7% Powders 44.0 47.2 (6.8)% 46.1 (4.6)% Aerosols 28.7 25.4 13.0% 24.7 16.2% Asia Pacific 11.7 12.5 (6.4)% 12.6 (7.1)% Group 471.
Slide 28: Appendix 3: Balance Sheet
Appendix 3: Balance Sheet 31 Dec 31 Dec 2024 2023 y/y £m £m £m Goodwill and other intangible assets 31.8 25.9 5.9 Property, plant and equipment 110.7 115.8 (5.1) Right-of-use assets 7.2 8.7 (1.5) Other non-current assets 43.0 46.9 (3.9) Working capital 52.2 41.6 10.6 Net other debtors/(creditors) (9
Slide 29: Appendix 4: Cash Flow
Appendix 4: Cash Flow H1 FY25 H1 FY24 y/y £m £m £m Adjusted operating profit 32.0 30.5 1.5 Depreciation of property, plant and equipment 7.8 8.6 (0.8) Depreciation of right-of-use assets 1.9 1.8 0.1 Share-based payments charge 0.8 0.6 0.2 Additional cash funding of pension scheme (2.4) (2.0) (0.4) (
Slide 30: Appendix 5: Funding and Liquidity
Appendix 5: Funding and Liquidity Facility Drawn Liquidity At 31 December 2024 £m £m £m Committed facilities – Revolving credit facility (Nov 2028) 165.8 (58.8) 107.0 – Invoice discounting facilities 62.3 (62.3) — – Leases 7.6 (7.6) — Total committed facilities 235.7 (128.7) 107.0 Cash and cash equi