Slide 1: Full-Year Results to 31 July 2026: Healthy air, sustainably
Full-Year Results to 31 July 2026 Healthy air, sustainably
Slide 2: Agenda
Agenda Overview Ronnie George Chief Executive Officer Financial Review Business Review Summary and Outlook Andy O’Brien Chief Financial Officer Q&A Volution Group plc Full-Year Results to 31 July 2026 1
Slide 3: Overview
Overview Volution Group plc Full-Year Results to 31 July 2026 2
Slide 4: Strong earnings growth, margin expansion and strategic progress
Strong earnings growth, margin expansion and strategic progress • Revenue, operating profit, EPS and cash generation all up >15%, continuing our long-term compounding growth performance • Organic growth of 2.8%cc in tough markets, demonstrating the benefit of our diverse geographic and end market ex
Slide 5: Clear growth focus
Clear growth focus Organic Value-adding Operational Sustainability growth acquisitions excellence at our core Agile decentralised sales approach. Broadening our market access and Product cost leadership through positions. sourcing, engineering and Delivering our purpose: Product innovation and cross
Slide 6: Investing in a compounding growth story
Investing in a compounding growth story Pure play specialists, Growing markets Increasingly combining local Capital-light model, Disciplined capital supported by long- diversified geographic customer intimacy strong margins, highly allocation and term structural and end market with Group expertise c
Slide 7: Delivering Our Purpose: Healthy Air, Sustainably
Delivering Our Purpose: Healthy Air, Sustainably Product % Revenue from low-carbon products Planet Carbon intensity (tCO2e /£m revenue) 72.1% 66.1 70.1 74.6 71.2 72.1 10.5 25.5 27.9 62.1 tCO2e/£m revenue 20.8 (73.9% organic) 59.0 19.4 +20.1pp 52.0 54.0 53.0 -58.8% 15.1 12.3 12.3 12.8 12.0 10.5 10-ye
Slide 8: Financial Review
Financial Review Volution Group plc Full-Year Results to 31 July 2026 7
Slide 9: Financial highlights
Financial highlights Revenue £m Adjusted operating profit £m Adjusted operating profit margin % £484.8m (+13.8% at cc) £112.4m (+20.2%) 23.2% (+90bps) 2026 484.8 2026 112.4 2026 23.2 2025 419.1 2025 93.5 2025 22.3 2024 347.6 2024 78.0 2024 22.5 2023 328.0 2023 69.9 2023 21.3 2022 307.7 2022 64.9 202
Slide 10: A strong financial performance
A strong financial performance 2026 2025 Movement • Revenue up 15.7% (+13.8%cc) of which +2.8%cc organic Revenue (£m) 484.8 419.1 +15.7% • Adjusted operating profit up 20.2%, driven by revenue growth and further operating margin expansion Adjusted operating profit (£m)1 112.4 93.5 +20.2% • Statutory
Slide 11: Revenue growth
Revenue growth £46.1m £484.8m £8.1m £3.5m £7.8m £419.1m £0.2m Organic growth 2.8%cc 15.7% revenue growth FY25 UK Continental Australasia FX Inorganic FY26 Europe Revenue up 15.7% Organic +2.8%cc (broadly balanced price/volume), inorganic +11.0%, FX +1.9% Volution Group plc Full-Year Results to 31 Ju
Slide 12: Group adjusted operating profit
Group adjusted operating profit £11.1m £112.4m £4.0m £2.0m £1.7m £2.0m £93.5m £(1.9)m Organic growth 6.3%cc 20.2% adjusted operating profit growth FY25 UK Continental Australasia Central costs FX Inorganic FY26 Europe 28.3% Adjusted operating profit up 26.0% 24.3% 24.1% 23.2% 22.2% 22.3% 21.6% 20.2%
Slide 13: Strong cash conversion supports acquisition strategy
Strong cash conversion supports acquisition strategy 1.2x £128.1m £0.9m £1.9m 1.5x £(8.1)m £(11.7)m £(22.2)m £(22.6)m £(18.9)m £(165.7)m £(105.4)m £(12.1)m £(235.8)m £88.9m Free cash flow 1 Aug 25 Adjusted Working Share-based CAPEX Interest/ Tax Dividend Lease Acquisitions FX and 31 Jul 26 EBITDA Ca
Slide 14: Compelling returns on invested capital (ROIC)
Compelling returns on invested capital (ROIC) 2026 2025 £m £m • Pre-tax ROIC of 25.4% (2025: 25.2%) Average net assets 290.0 254.0 • -40bps adverse impact due to acquisition of AC Industries (M&A dilutive at point of entry) Add/(deduct) • +20bps improvement due to Fantech (full year activity plus +
Slide 15: Strong performance against our key financial metrics
Strong performance against our key financial metrics FY26: FY26: Revenue +13.8%cc Adjusted operating 107% growth Target: cash conversion Target: +10% >90% FY26: FY26: Organic revenue +2.8%cc Return on invested 25.4% growth (cc) Target: capital (ROIC) Target: +3-5% >20% Adjusted operating FY26: FY26:
Slide 16: Business Review
Business Review Volution Group plc Full-Year Results to 31 July 2026 15
Slide 17: Our increasing geographic diversity
Our increasing geographic diversity UK Continental Europe Australasia Revenue £m Colleague numbers Revenue £m Colleague numbers Revenue £m Colleague numbers £176.3m 1,027 £150.3m 771 £158.2m 514 Adjusted operating profit Locations Adjusted operating profit Locations Adjusted operating profit Locatio
Slide 18: United Kingdom: Excellent margin performance
United Kingdom: Excellent margin performance Revenue Growth Organic revenue Adjusted growth (cc) operating margin +0.1% +0.1% +28.3% 2026 2025 Change • Residential +2.2% with strong public RMI (Awaab’s law) and resilient private Market sector revenue £m £m % RMI UK Residential 117.7 115.2 2.2 • New
Slide 19: Continental Europe: Organic growth ahead of target
Continental Europe: Organic growth ahead of target Revenue Growth Organic revenue Adjusted growth (cc) operating margin +10.0% +5.9% +24.3% 2026 2025 Change Change (cc) • Nordics up 13.0% (+7.3% cc), with strong residential refurbishment Market sector revenue £m £m % % in Sweden and much improved co
Slide 20: Australasia: A compelling proposition in residential and commercial markets
Australasia: A compelling proposition in both Revenue Growth Organic revenue Adjusted residential and commercial markets growth (cc) operating margin +48.7% +3.3% +22.2% 2026 2025 Change Change (cc) • Revenue up 48.7% (+46.7% cc), with inorganic growth of 43.4% Market sector revenue £m £m % % (Fante
Slide 21: Summary and outlook
Summary and outlook Volution Group plc Full-Year Results to 31 July 2026 20
Slide 22: Strong earnings growth, margin expansion and strategic progress
Strong earnings growth, margin expansion and strategic progress • Revenue, operating profit, EPS and cash generation all up >15%, continuing our long-term compounding growth performance • Organic growth of 2.8%cc in tough markets, demonstrating the benefit of our diverse geographic and end market ex
Slide 23: Outlook
Outlook The year has started well, with the Group We are seeing clear opportunities to build delivering organic growth alongside a on this momentum, including recent orders positive revenue contribution from AC for ventilation systems for data centres Industries. We completed the acquisition of in A
Slide 24: Video
Video Volution Group plc Full-Year Results to 31 July 2026 23
Slide 25: Thank you Q&A
Thank you Q&A Volution Group plc Full-Year Results to 31 July 2026 24
Slide 26: Appendix
Appendix Volution Group plc Full-Year Results to 31 July 2026 25
Slide 27: 2026 Highlights: Strong, sustainable compounding growth
2026 Highlights Strong, sustainable compounding growth Sustained compounding growth Revenue growth Adjusted basic earnings per share Adjusted operating cash flow Adjusted operating profit 12.1% 11.7% 14.6% 13.2% 17 18 19 20 21 22 23 24 25 26 17 18 19 20 21 22 23 24 25 26 Ten-year CAGR Ten-year CAGR
Slide 28: Our products: Our business, many markets
Our products Our business, many markets Residential RMI New-Build Apartments Car Parks Education Heat recovery solutions for Centralised and decentralised heat Efficient, automated ventilation Energy efficient ventilation and home refurbishments, supplied recovery and cooling solutions, and smoke-co
Slide 29: Mega trends: Long-term growth tailwinds
Mega trends Long-term growth tailwinds Decarbonisation Health and Air Quality Overheating and Electrification What it means for Volution What it means for Volution What it means for Volution Significant increases in energy costs for both householders Improved air quality is increasingly recognised a
Slide 30: Financial summary
Financial summary 2026 2025 Movement Revenue (£m) 484.8 419.1 15.7% Revenue (cc) (£m) 477.0 419.1 13.8% Gross Margin (%) 51.5% 49.1% 2.4 pp Adjusted operating profit (£m)1 112.4 93.5 20.2% Adjusted operating margin (%)1 23.2% 22.3% 0.9 pp Adjusted profit before tax (£m)1 99.2 83.9 18.2% Adjusted EPS
Slide 31: Reconciliation of adjusted to statutory profit
Reconciliation of adjusted to statutory profit 2026 2025 Movement £m £m £m Acquisition-related costs: Adjusted profit before tax 99.2 83.9 15.3 • £0.6 million (2025: £7.1 million) amortisation of acquired inventory fair value adjustments Items excluded from adjusted measures: • £1.1 million (2025: £
Slide 32: Consolidated statement of financial position summary
Consolidated statement of financial position summary 2026 2025 £m £m Non-current assets Property, plant and equipment 36.4 34.0 Right-of-use assets 50.2 39.9 Intangible assets – goodwill 290.4 235.8 Intangible assets – others 155.9 125.2 532.9 434.9 Current assets Inventories 80.9 71.3 Trade and oth
Slide 33: Cash flow/net debt
Cash flow/net debt 2026 2025 Movement Movement £m £m £m % Adjusted EBITA (A) 114.6 95.6 19.0 19.9% Depreciation 13.5 10.7 Adjusted EBITDA 128.1 106.3 21.8 20.5% Movement in working capital 0.9 4.5 Share-based payments 1.9 2.1 Net investment in fixed assets (8.1) (8.4) Adjusted operating cash flow (B
Slide 34: Cautionary statement
Cautionary statement This document may contain forward-looking statements which are made in good faith and are based on current expectations or beliefs, as well as assumptions about future events. You can sometimes, but not always, identify these statements by the use of a date in the future or such