Slide 1: 2024 Full Year Results
2024 Full Year Results 20 March 2025
Slide 2: Introduction
Introduction David Wood Lk
Slide 3: Agenda
Agenda Key Highlights 1 David Wood Page 4 Financial Review 2 Mark George Page 5 Business Update 3 David Wood Page 16 Q&A 4 David Wood & Mark George Page 26 3
Slide 4: Strong market outperformance; Good start to 2025; New share buyback announced
Strong market outperformance; Good start to 2025; New share buyback announced • Balanced business model delivers resilient 2024 performance ○ Retail volume growth & accelerated market share gains ○ Improving performance in Design & Installation ○ Adj. PBT of £43.6m at upper end of market expectation
Slide 5: Financial Review
Financial Review Mark George
Slide 6: Strong performance in challenging market conditions
Strong performance in challenging market conditions Revenue £1,539m Strong balance sheet Gross margin £86m YE cash Group revenue (1.0)% + 16 basis points £144m average cash Retail1 revenue 1.9% FY dividend 10.9p Adjusted PBT 2 Design & Installation £43.6m £25m share buyback revenue (10.5)% completed
Slide 7: Balanced business model & productivity plan deliver resilient profit performance
Balanced business model & productivity plan deliver resilient profit performance £m1 FY 2023 FY 2024 Change % • Sales & volume growth in Retail partly offset challenging market Revenue 1,553.8 1,538.8 (1.0)% for Design & Installation LFL % (0.3)% (2.0)% N/A Gross profit 568.1 565.1 (0.5)% • Robust gro
Slide 8: Continued sales & volume growth in Retail, driven by TradePro
Continued sales & volume growth in Retail, driven by TradePro Retail (Trade & DIY) • Continued increase in Retail market share • Positive LFL driven by volume growth; additional sales from new store rollout • TradePro sales +14% with active TradePro members increasing to 581k Q1 Q2 Q3 Q4 Inflation1 (
Slide 9: Improving performance in Design & Installation as the year progresses
Improving performance in Design & Installation as the year progresses Design & Installation • Decline in delivered sales1 due to weak consumer appetite for larger ticket purchases • Actions taken to enhance customer offer and experience led to improving performance • Q4 ordered sales2 in positive Yo
Slide 10: Further profit growth in Retail and clear opportunities in Design & Installation
Further profit growth in Retail and clear opportunities in Design & Installation • Increase in Retail margin from sales & Trading margin volume growth; disciplined management of gross margin • Challenging conditions for big ticket items led to decrease in D&I • Productivity initiatives largely mitiga
Slide 11: Productivity case study: stock forecasting tool drives lower costs and improved customer experience
Productivity case study: stock forecasting tool drives lower costs and improved customer experience • Investment in AI-driven, predictive stock % forecasting platform delivering materially +150 bps enhanced productivity • Significant improvement in stock forecast accuracy with material financial benefi
Slide 12: Cash generation supports investment programme & significant shareholder returns
Cash generation supports investment programme & significant shareholder returns • Capex broadly in line ○ 2024 guidance c.£30m1 • £5.1m net initial consideration for acquisition of 51% stake in Solar Fast • £6.2m proceeds from Braintree sale & leaseback • £41m shareholder returns ○ 10.9p paid in divi
Slide 13: Strong balance sheet & ongoing performance enable further buybacks
Strong balance sheet & ongoing performance enable further buybacks • Capital allocation policy1 to maintain strong balance sheet with significant liquidity Year End Average ○ Min.£50m cash at Dec YE, the seasonal low point 2024 2024 ○ Average cash during the year considerably higher Debt Nil Nil ○ RC
Slide 14: All Design & Installation ranges to be reported together from 2025 onwards
All Design & Installation ranges to be reported together from 2025 onwards FY 2024 FY 2024 • Presentational change to segmental Current New reporting methodology methodology Retail Revenue £1,212.3m £1,129.8m • Groups all kitchen and bathroom Revenue growth 1.9% 1.9% ranges together, whether Lifesty
Slide 15: Outlook and guidance for 2025
Outlook and guidance for 2025 Outlook • Trading in first 11 weeks of Q1 in line with our expectations ○ Positive sales growth continues in Retail ○ D&I ordered sales in positive growth for 2nd quarter in a row; delivered sales remain negative • Remain comfortable with current consensus for 2025 adj.P
Slide 16: Business Update
Business Update David Wood Lk
Slide 17: Winning strategy based on balanced business model and proven growth levers
Winning strategy based on balanced business model and proven growth levers 17
Slide 18: Current market trends as we enter 2025
Current market trends as we enter 2025 ● Trade pipelines remain healthy: ○ Over 50% of tradespeople continue to have a pipeline of over 3 months1 Trade ○ c25% have a pipeline of over 12 months1 ○ Traders remain thrifty, with over 4 in 5 doing research to find best value1 ● Planned spend on a new kitc
Slide 19: Continuous improvement in Retail with strong TradePro growth
Continuous improvement in Retail with strong TradePro growth… 1 • TradePro sales +14% ○ Growth in active members to 581,0001 ○ B2B helping underpin member growth • Strategic focus on building new and innovative ranges in our core DIY categories ○ Expansion of storage and shelving ranges ○ Introducti
Slide 20: …leading to further market outperformance
…leading to further market outperformance 1 • Market share1 gains have accelerated ○ Led by strong growth in TradePro ○ Particular gains in decor and garden ○ Broader DIY appeal ○ Now over 1 in 3 customers are female2 from less than 1 in 6 in 2019 • Virtuous circle of everyday low prices, increased
Slide 21: Actions taken to improve customer offer and experience in Design & Installation
Actions taken to improve customer offer and experience in Design & Installation… • Bespoke and Lifestyle1 ranges now presented as Wickes Kitchens and Wickes Bathrooms ○ Unified brochures, advertising, promotions • Simplified customer journey ○ Online booking for design appointments ○ Increased availab
Slide 22: …driving improved momentum, in spite of challenging market
…driving improved momentum, in spite of challenging market • Improved momentum in D&I sales due to self-help actions taken during 2024 ○ LFL delivered sales H1 (18.3)% / H2 (8.4)% ○ Q4 ordered sales1 in positive growth H1’24 H2’24 FY’24 D&I revenue growth2 (17.0)% (2.5)% (10.5)% D&I LFL revenue grow
Slide 23: Investment in new stores and refits continues to drive growth
Investment in new stores and refits continues to drive growth • Refitted 7 stores into newest format ○ 80% of estate now in new format ○ Lighter touch ‘refresh’ programme started with more to come in 2025 • Four new stores ○ Long Eaton, Durham, Aberdeen, Edmonton before refresh Edmonton after refresh
Slide 24: 'Built to Last' strategy recognised: FTSE4Good, 'B' in CDP Climate, 'AAA' in MSCI
‘Built to Last’ strategy recognised: FTSE4Good, ‘B’ in CDP Climate, ‘AAA’ in MSCI ● Flexible working rolled out to all roles in Support Centre and all store management teams, as part of our Colleague Promise People ● Supported 2,156 community projects across the country ● Raised £1.6m in partnership
Slide 25: Strong market outperformance; Good start to 2025; New share buyback
Strong market outperformance; Good start to 2025; New share buyback • Balanced business model delivers resilient performance in 2024 ○ Continued growth in Retail sales and market share ○ Early signs of improvement in D&I ○ Adj.PBT at upper end of market expectations • Trading in first 11 weeks of Q1
Slide 26: Q&A
Q&A
Slide 27: Appendix
Appendix Lk
Slide 28: A balanced business supporting three customer propositions
A balanced business supporting three customer propositions 28
Slide 29: Our 4C customer service model
Our 4C customer service model 29
Slide 30: How we deliver our unique customer proposition
How we deliver our unique customer proposition 30
Slide 31: Sustainable competitive advantage driving investment returns
Sustainable competitive advantage driving investment returns 31
Slide 32: Disclaimer
Disclaimer This presentation has been prepared by Wickes Group Plc. To the extent it includes forward-looking statements, these statements are based on current plans, estimates, targets and projections, and are subject to inherent risks, uncertainties and other factors which could cause actual resul