Slide 1: Strategically well-positioned to capitalise on trading momentum
Strategically well-positioned to capitalise on trading momentum Synthomer plc | 2025 full year results Thursday 30 April 2026 Synthomer plc 2025 full year results 1
Slide 2: Important notice
Important notice This presentation is being provided to you in good faith and solely contained therein have been obtained from sources believed to profit forecast or estimate for any period. Recipients of these for your information purposes, speaking as of the date hereof, be reliable, but that ther
Slide 3: Agenda
AGENDA 01 Overview – Michael Willome 02 Financial review – Lily Liu 03 Strategic progress – Michael Willome 04 Outlook and summary – Michael Willome 05 Q&A Synthomer plc 2025 full year results 3
Slide 4: Strategically well-positioned to capitalise on trading momentum
Strategically well-positioned to capitalise on trading momentum • In-line 2025 results delivered Improved gross and EBITDA margin despite lower end-market demand; positive Free Cash Flow • Bank facilities refinanced Maturities extended to 2029, covenants reset – stable financial position to support
Slide 5: Agenda
AGENDA 01 Overview – Michael Willome 02 Financial review – Lily Liu 03 Strategic progress – Michael Willome 04 Outlook and summary – Michael Willome 05 Q&A Synthomer plc 2025 full year results 5
Slide 6: FY 25 group financial summary
FY 25 group financial summary Margin improvement and positive FCF delivered despite lower volumes • Continuing revenue (9.9)% in CC1 to £1,739.2m Underlying Continuing business – Group volume (7.2)% reflecting lower end-market demand following tariff FY % FY % changes and ongoing South-East Asian co
Slide 7: Coatings & Construction Solutions (CCS)
Coatings & Construction Solutions (CCS) Challenging demand environment since tariff changes, mitigated by further cost actions • FY 25 divisional trading Underlying – Volume (6.8)%, with energy solutions heavily affected by de-stocking FY % FY % vs FY 24, and tariff effects on demand in other busine
Slide 8: Adhesive Solutions (AS)
Adhesive Solutions (AS) Strong earnings and margin momentum from cost and competitiveness improvements • FY 25 divisional trading Underlying – Revenue (1.5)% in CC, broadly in line with subdued volumes in period, FY % FY % with customers responding cautiously to tariff changes £m FY 25 FY 24 change
Slide 9: Health & Protection and Performance Materials (HPPM)
Health & Protection and Performance Materials (HPPM) Lower customer demand partially offset by cost efficiency and mix focus • FY 25 divisional trading Underlying Continuing business* – Revenue (16.5)% in CC, principally reflecting (10.4)% volume and FY % FY % pass-through of lower raw materials pri
Slide 10: Positive FCF delivered as targeted in FY 25
Positive FCF delivered as targeted in FY 25 Broadly neutral FCF expected in FY 26 after adjusting for KLK receivables purchase unwind Free cash flow and net debt • Self-help/cost savings continue to support EBITDA £m FY 25 FY 24 – £30m benefits in FY 25 from self-help and strategy Opening net debt (
Slide 11: Balance sheet and liquidity
Balance sheet and liquidity Focused on derisking and deleveraging the balance sheet • Core debt facilities Net debt position at year end (£m) – RCF and UKEF facilities refinanced – now mature February 2029 Dec Dec Dec – Security and guarantee package provided by certain group companies Maturity 2023
Slide 12: Agenda
AGENDA 01 Stronger foundations – Michael Willome 02 Financial review – Lily Liu 03 Strategic progress – Michael Willome 04 Outlook and summary – Michael Willome 05 Q&A Synthomer plc 2025 full year results 12
Slide 13: Synthomer's focus, strengthen, grow strategy
Synthomer’s focus, strengthen, grow strategy Becoming a more focused, more resilient, higher quality business Synthomer is a speciality solutions platform for Coatings & Construction, Adhesives and Health & Protection market segments 01 02 03 04 05 Organic growth in Rigorous and Operational and Diff
Slide 14: Strategic direction
Strategic direction Increasing our specialisation, global position and efficiency Pre-new strategy Synthomer FY 25 Future Synthomer Portfolio Increasing % revenue base Speciality Base Speciality Base Speciality Base speciality vs. speciality weighting ~50% ~50% ~55% ~45% ~70% ~30% Geography More bal
Slide 15: Coatings & Construction Solutions
Coatings & Construction Solutions Investing in profitable regional and product growth opportunities Our strategic opportunity • Further alignment with strategic end markets Leading positions with solutions to enhance energy – Improving geographical balance – with strategic key account management for
Slide 16: Adhesive Solutions
Adhesive Solutions Momentum from successful performance improvement programme and new products Our strategic opportunity • Further improve competitiveness and reliability Leading positions in EMEA and the Americas across all – £11m benefits from performance improvement programme in FY 25; cumulative
Slide 17: Health & Protection and Performance Materials
Health & Protection and Performance Materials Focus on cost efficiency and unit margins amid mixed market developments Our strategic opportunity • Market dynamics evolving in latex for gloves industry Market leader in £3bn NBR market – base chemicals – Worked closely with customers to respond to cha
Slide 18: Agenda
AGENDA 01 Overview – Michael Willome 02 Financial review – Lily Liu 03 Strategic progress – Michael Willome 04 Outlook and summary – Michael Willome 05 Q&A Synthomer plc 2025 full year results 18
Slide 19: Current trading and outlook
Current trading and outlook Current trading Outlook for 2026 • Q1 26 in line with expectations and ahead of Q1 25, with • Geopolitical and market context remains highly volatile and improving momentum through the period longer-term consequences of the conflict remain uncertain • Expecting robust vol
Slide 20: Summary
Summary Further strategic progress to capture trading momentum Ambition to double recent earnings over medium term: • Continuing to deliver strategic transformation towards speciality – now Further self-help actions more than ever it is the right strategy + • Refinancing and portfolio rationalisatio
Slide 21: Agenda
AGENDA 01 Overview – Michael Willome 02 Financial review – Lily Liu 03 Strategic progress – Michael Willome 04 Outlook and summary – Michael Willome 05 Q&A Synthomer plc 2025 full year results 21
Slide 22: Appendices
APPENDICES 01 Special items 02 Foreign exchange and pensions 03 Operational excellence 04 Driving innovation and sustainability Synthomer plc 2025 full year results 22
Slide 23: FY 25 special items
Appendix 1 FY 25 special items Continuing operations £m FY 25 FY 24 • Amortisation of acquired intangibles reflects the amortisation on the customer lists, patents, trademarks and trade secrets that arose on historic acquisitions Amortisation of acquired intangibles (44.4) (45.1) • Restructuring and
Slide 24: Foreign exchange and pensions
Appendix 2 Foreign exchange and pensions FX translation exposure – EBITDA impact Pensions FY 25 translation • Net retirement obligation decreased by £10.1m to £39.6m at 31 December Currency Movement sensitivity 2025, primarily driven by actuarial gains of £13.6m EUR € 0.10 £6.1m • Closing balance pr
Slide 25: Operational excellence
Appendix 3 Operational excellence Continuous improvement in how we run our business is a key pillar of the strategy SHE excellence Procurement Synthomer Excellence (SynEx) SynEx community • Centrally-managed ‘business excellence’ function launched in Oct 2022 • Growing community; 3 Master black belt
Slide 26: Driving innovation and sustainability
Appendix 4 Driving innovation and sustainability Further progress in key initiatives underpinning future growth Our sustainability approach is commercially-led and aligned to innovation agenda… • ISCC+ certified sites increased by 3 to 11 – mass balance-based product offerings for customers using bi