Johnson Service Group Plc · LSE:JSG
Johnson Service — H1 2025 Earnings Presentation
29 slides from Johnson Service's earnings presentation, Jun 30, 2025
Slide 1: Interim Results 30 June 2025
JOHNSON SERVICE GROUP PLC Interim Results 30 June 2025 JOHNSON Service Group PLC “The Board is pleased with the further progress made by the Group in the first half of the year and with the results reported today." Peter Egan - Chief Executive Officer Yvonne Monaghan - Chief Financial Officer
Slide 2: Contents
end JOHNSON Service Group PLC CONTENTS 1) Operational Highlights 2) Financials 3) Investment 4) Sustainability 5) Operational Performance 6) Outlook 7) Investment Case Appendices
Slide 3: Operational Highlights
JOHNSON Service Group PLC OPERATIONAL HIGHLIGHTS "During the first six months we have continued to increase efficiency and capacity across the business through our ongoing capital investment plan.”
Slide 4: Organic revenue increased in HORECA by 1.4% and in Workwear by 1.3%
Organic revenue increased in HORECA by 1.4% and in Workwear by 1.3% Following a slower than anticipated start to the summer months, the slight improvement in HORECA volumes we reported in early July was maintained Movement of work to Crawley, together with installation of new sales, is progressing t
Slide 5: Financials
te °@: s JOHNSON Service Group PLC e- FINANCIALS “Overall, we are encouraged with the Group's performance and improving margin.”
Slide 6: Financial Highlights
2025 Interim Results Financial Highlights 2025 2024 % 2024 H1 H1 Increase FY Revenue (£m) 257.5 2441 5.5% 513.4 Adjusted EBITDA (£m)'2 75.4 69.2 9.0% 152.6 Adjusted EBITDA margin (%)'? 29.3 283 - 297 Adjusted operating profit (Em)? 28.7 25.2 13.9% 623 Adjusted operating margin (%) 11.1 10.3 = 121 Ad
Slide 7: Strong and sustainable growth since COVID-19
The Group has continued to deliver strong and sustainable growth in the aftermath of COVID-19
Slide 8: Cost pressures remain, particularly energy and labour
2025 H1 11.1% 16.5% 46.4% 11.8% 6.3% 7.8% Employment Costs Energy Depreciation (PPE & ROU) Depreciation (Textile Rental Items) Other Costs Adjusted Operating Profit • Cost pressures remain, particularly in relation to energy and labour • 2025 H1 energy costs represented 7.8% of revenue (2024 H1: 9.4
Slide 9: Cash Flow
2025 Interim Results Cash Flow JOHNSON Service Group PLC Adjusted operating profit 25.2 623 Depreciation, impairment and software amortisation ano ues Working capital (7.3) (1.4) fixed assets and software (29.8) (44.6) Capital expenditure | rental stocks (net) (29.6) (60.9) fixed asset proceeds 01 0
Slide 10: Other Financial Information
2025 Interim Results Other Financial Information Interest « Interest cost of £3.8m including £1.3m relating to IFRS 16 lease liabilities (2024 H1: £3.7m and £1.1m respectively; 2024 FY: £7.5m and £2.3m respectively) + Notional pension interest income of £0.1m (2024 H1: Enil; 2024 FY: Enil) Bank Faci
Slide 11: Investment
JOHNSON Service Group PLC Investment “We are also continuing to focus on improving efficiencies driven by capital investment and process changes..."
Slide 12: Capital Expenditure
2025 Interim Results “eee” Capital Expenditure JOHNSON Service Group PLC £23.8m Ws Wrexham New Boiler Sorting system \_ and automatic % dryers nvestment Ne Ireland ' ») Investment Edinburg completed at Sorting system \_ our Wexford and automatic L Naas sites dryers ~ 7 “ee” eS Shaftesbury New Boiler
Slide 13: Sustainability
Yous JOHNSON Service Group PLC Sustainability “We have been awarded a silver medal by EcoVadis, the world’s most trusted provider of business sustainability ratings.”
Slide 14: Progress in meeting sustainability goals
• We are continuing to work with both our customers and suppliers as we make progress in meeting our sustainability goals • Awarded a silver medal by EcoVadis • Progress in reducing consumption of single use plastics • Fourth Sustainability Report published • Plastic wrapping of clean, delivered pro
Slide 15: Operational Performance
JOHNSON Service Group PLC OPERATIONAL PERFORMANCE “Our continued focus on operational excellence and margin improvement has positioned us well to achieve our target of at least a 14.0% adjusted operating profit margin in 2026 and we are on track to meet full year adjusted operating profit in line wi
Slide 16: Operational Performance: HORECA
2025 Interim Results Operational Performance JOHNSONS JOHNSONS JOHNSONS JOHNSONS Hotel Linen Hotel Restaurant & Catering Linen Luxury Linen Revenue (£m) Ireland Adjusted EBITDA (£m)'2 Adjusted EBITDA margin (%)'2 Adjusted operating profit (Em)? Adjusted operating margin (%)2 Notes: 2025 H1 | 2024 H1
Slide 17: Operational Performance: HORECA commentary
2025 Interim Results Operational Performance ¢ Organic revenue increased by 1.4% « Sales pipeline remains consistently strong « New depot improves access to hotel customers in London and the South East « Our new Crawley site, which is one of the most sustainable and energy efficient laundries of sca
Slide 18: Operational Performance: Workwear
2025 Interim Results Operational Performance JOHNSON Service Group PLC * JOHNSONS Workwear Revenue (£m) Adjusted EBITDA (£m)'2 Adjusted EBITDA margin (%)'2 Adjusted operating profit (£m)2 Adjusted operating margin (%)2 Notes: 1. Adjusted operating profit plus depreciation charge for property, plant
Slide 19: Operational Performance: Workwear commentary
2025 Interim Results Operational Performance JOHNSON Service Group PLC « Good momentum in new business sales « Customer retention levels increased to 94% (2024: 93%) and trending towards historic levels = « Capital expenditure included new commercial vehicles, laundry processing equipment and boiler
Slide 20: Outlook
Or e JOHN Service Group PLC OUTLOOK “We are confident in reporting a full year adjusted operating profit in line with current market expectations..." 20
Slide 21: Encouraging trading momentum and proactive management of costs
Encouraging trading momentum and proactive management of costs Adjusted operating margin will continue to improve Integration of recent acquisitions ongoing Expansion strategy being delivered through new Crawley site, London depot and targeted investment Focus on expanding the Group through targeted
Slide 22: Investment Case
&¢ JOHNSON Service Group PLC INVESTMENT CASE “The Group's objective is to employ a disciplined approach to investment, returns and capital efficiency to deliver sustainable compounding earnings growth whilst also maintaining a strong balance sheet and increasing ROCE.” 22
Slide 23: Revenue mix: disposals and acquisitions 2012 to 2024
2012 Revenue 2024 Revenue 2012 Revenue 2024 Revenue 21% 22% 28% 53% 26% 78% 72% 100% Textile Services HORECA Drycleaning Workwear Facilities Management Disposals Acquisitions
Slide 24: An Essential Service Provider
An Essential Quality Service A Local Service Service Provider We provide our Our proximity to The services we customers enables us to customers with a provide to our quickly respond to their quality service which customers are essential needs they can rely upon to their business Sustainable Substitu
Slide 25: Key Components of Our Medium-Term Outlook
Key Components of Our Medium-Term Outlook Supported By Exceptional service ▪ Value-added proposition and market leading service supports above underpinned by quality and Organic market growth reliability Revenue Growth ▪ Consistent track record of delivering organic growth Long-term relationships an
Slide 26: Appendices
“6°'@ on: 2 e Wo ~ Dey “6 ®, Prt) : se e e @: eo: “ Oo Service Group PLC Appendices 26
Slide 27: Segmental Analysis
2025 Interim Results Appendix 1 Segmental Analysis JOHNSON Service Group PLC 2025 HY 2024 HY 2024 FY HORECA 185.4 22.5 53.7 Workwear 724 10.4 25.9 N2 10.2 24.5 142.2 20.3 49.4 Textile Rental 2575 32.9 79.6 244.1 28.6 72.6 513.4 69.7 159.9 Group Costs ° (4.2) (4.2) - (3.4) (3.4) - (7.4) (73) Pzaas] 2
Slide 28: Strong and sustainable growth since COVID-19
The Group has continued to deliver strong and sustainable growth in the aftermath of COVID-19 4.00 2.80 2.40
Slide 29: www.jsg.com
JOHNSON Service Group PLC www.jsg.com
Johnson Service Group — H1 2025 Earnings Presentation on 6ix