Travis Perkins Plc · LSE:TPK
Travis Perkins — H1 2025 Earnings Presentation
22 slides from Travis Perkins's earnings presentation, Aug 5, 2025
Slide 1: 2025 Half Year Results
2025 Half Year Results August 2025
Slide 2: Agenda
INTRODUCTION FINANCIAL REVIEW 2025 Half Year Results August 2025 02 09 16 17 21 Q&A APPENDICES CONTACT Introduction Financial review Q&A Appendices Contact TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 1
Slide 3: Introduction
Introduction INTRODUCTION Geoff Drabble, Chair FINANCIAL REVIEW Q&A APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 2
Slide 4: Key objectives
Key 1. Appoint experienced, INTRODUCTION credible CEO objectives 2. Reverse decline FINANCIAL REVIEW in Merchanting Q2/25 market share Q&A 3. Build on momentum in Toolstation UK APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 3
Slide 5: Appoint experienced, credible CEO
1. INTRODUCTION Gavin Slark appointed as CEO FINANCIAL REVIEW Appoint • Extensive industry experience – BSS, Grafton, SIG experienced, • Appointment well received Q&A internally and externally credible CEO • Joins the business 1 Jan 2026 APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results
Slide 6: Reverse decline in Merchanting market share
2. INTRODUCTION 2.1 Focus on customer and market opportunity with targeted promotions FINANCIAL REVIEW Reverse decline and local initiatives in Merchanting 2.2 Create empowered, Q&A market share nimbler organisation with focus on the APPENDICES customer CONTACT TRAVIS PERKINS PLC / 2025 Half Year Re
Slide 7: Focus on customer and market opportunity with targeted promotions
2. Reverse decline in Merchanting market share INTRODUCTION 2.1 • Good progress on yard sales in a short period of time • Demonstrated that the Merchants Focus on customer and FINANCIAL REVIEW can win business and have good market opportunity with commercial ‘muscle memory’ targeted promotions and •
Slide 8: Create empowered, nimbler organisation with focus on the customer
2. Reverse decline in Merchanting market share INTRODUCTION 2.2 • Three business units with focused and experienced leadership • Travis Perkins General Merchant, MD Richard Lavin Created empowered, – 11 years in Group FINANCIAL REVIEW • Specialist Merchants, MD Catherine Gibson nimbler organisation
Slide 9: Build on momentum in Toolstation UK
3. INTRODUCTION • Toolstation UK delivered strong performance in H1 25 • Toolstation UK on track with FINANCIAL REVIEW strategic objectives and financial plan Build on • Opportunity for Toolstation to drive greater cross-selling across momentum in the Group Q&A Toolstation UK • Benelux remains chall
Slide 10: Financial review
Financial review INTRODUCTION Duncan Cooper, CFO FINANCIAL REVIEW Q&A APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 9
Slide 11: Financial overview
Financial overview INTRODUCTION 6 months ended 30 June 2025 H1 2024 FINANCIAL REVIEW (£m unless otherwise stated) H1 2025 (re-presented1) Change Revenue 2,300 2,349 (2.1)% Adjusted operating profit excluding property profits 62 80 (22.5)% Adjusted operating profit 63 83 (24.1)% Q&A Adjusted earnings
Slide 12: Weak start to the year steadily improving with additional momentum from self-help
Weak start to the year steadily improving INTRODUCTION with additional momentum coming from self-help 6 months ended 30 June 2025 • January & February performance FINANCIAL REVIEW (£m unless otherwise stated) behind expectations • Oracle implementation and vacancies in key management roles • Warm sp
Slide 13: Sharper pricing and promotional proposition to drive volume recovery
Sharper pricing and promotional proposition INTRODUCTION to drive volume recovery whilst maintaining cost discipline 6 months ended 30 June 2025 • Gross profit impacted by volume FINANCIAL REVIEW (£m unless otherwise stated) decline • Stronger promotional offering in H1 • National Insurance increase
Slide 14: Continued strong cash generation with disciplined capital allocation
Continued strong cash generation INTRODUCTION with disciplined capital allocation 6 months ended 30 June 2025 H1 2024 • Oracle working capital impact FINANCIAL REVIEW (£m unless otherwise stated) H1 2025 (re-presented1) YoY unwound EBITDA 147 174 (27) • Offering credit remains a differentiator Acces
Slide 15: Further strong progress on net debt reduction
Further strong progress INTRODUCTION on net debt reduction 6 months ended 30 June 2025 30 Jun 31 Dec • Significant reduction in net debt FINANCIAL REVIEW (£m unless otherwise stated) 2025 2024 Change Covenant driven by working capital inflow Net debt £710m £845m £135m • £24m from sale of Staircraft
Slide 16: Outlook and guidance
Outlook and guidance INTRODUCTION Current trading and outlook Guidance FINANCIAL REVIEW • Trading environment remains • Base capital expenditure of challenging and unpredictable around £80m Q&A • Competitive pricing and good • Property profits of around £8m customer service are key to • Expected ETR
Slide 17: Q&A
Q&A INTRODUCTION FINANCIAL REVIEW Q&A APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 16
Slide 18: Appendices
Appendices INTRODUCTION FINANCIAL REVIEW Q&A APPENDICES CONTACT TRAVIS PERKINS PLC / 2025 Half Year Results / August 2025 17
Slide 19: Definitions
Definitions INTRODUCTION Metric Definition Operating profit Profit before tax, financing charges and income FINANCIAL REVIEW Earnings per share (‘EPS’) Ratio of net profit after taxation adjusted for minority interests to weighted number of ordinary shares outstanding Adjusted operating profit / Ope
Slide 20: Sales drivers by reporting segment
Sales drivers by reporting segment INTRODUCTION (% unless otherwise stated) Merchanting Toolstation Total Group Total revenue Q1 Q2 H1 Q1 Q2 H1 Q1 Q2 H1 FINANCIAL REVIEW 2025 (3.5) (2.7) (3.1) 2.8 2.7 2.7 (2.4) (1.8) (2.1) 2024 (6.0) (5.7) (5.8) 0.9 3.6 2.3 (4.9) (4.2) (4.5) Like-for-like revenue 20
Slide 21: Branch numbers
Branch numbers INTRODUCTION 6 months ended 30 June 2025 31 Dec 2024 Openings Closures 30 Jun 2025 Travis Perkins General Merchant 549 (1) 548 FINANCIAL REVIEW Benchmarx1 28 28 Keyline 41 41 CCF 37 37 Q&A BSS 54 54 TF Solutions 15 1 16 Merchanting 724 1 (1) 724 APPENDICES Toolstation UK 587 6 (2) 591
Slide 22: Contact
INTRODUCTION FINANCIAL REVIEW Q&A Strong customer and supplier relationships Comprehensive UK network Toolstation growth potential APPENDICES Contact Matt Worster +44 (0) 7990 088 548 CONTACT matt.worster@travisperkins.co.uk Unique portfolio of brands Experienced people 21