Slide 1: Half year 2025 results
Half year 2025 results
Slide 2: Group highlights
Group highlights Restore * Improved revenue, adjusted operating profit, adjusted operating margin and adjusted profit before tax ¢ Adjusted operating margin of 17.7%, reflecting continued progress towards 20% medium-term target * Information Management property consolidation programme now c50% compl
Slide 3: Divisional performance
Divisional performance Restore * Information Management experienced steady physical storage activity with a broadly stable number of boxes stored. Digital activity continues to undergo significant change, but we are optimistic that the business will deliver significantly improved margins soon. Syner
Slide 4: Acquisitions completed so far in 2025
Acquisitions completed so far in 2025 March Synertec, Somerset New service for Information Management April Shred First, Kent Bolt-on acquisition for Datashred April Shred-on-Site, Surrey Significant bolt-on acquisition for Datashred July Topwood, North Wales Bolt-on acquisition for Information Mana
Slide 5: Financial overview
Financial overview
Slide 6: Highlights
Highlights Restore * Revenues up 15% to £160.1m (HY24: £139.4m) Revenue split * Adjusted operating profit* up 8% to £25.5m (HY24: £23.6m) + Adjusted operating margin* of 17.7%, up 80bps (HY24: 16.9%) * Adjusted PBT* up 10% to £18.0m (HY24: £16.3m) * Adjusted basic EPS* up 11% to 10.0p (HY24: 9.0p) *
Slide 7: Adjusted PBT bridge
Restore Adjusted PBT up 107 Information Management Datashred Technology fae 3 (1.0) 25 0.4 02 cn | CJ —— iso (0.4) 11 0.1 || (4.3) (1.3) 16.3 Hy24 Pricing Digital HY25, Property Cost inflation Activity Hy25 Paper Net Activity Net Activity Net HY25 integration acquisition consolidation (principally {
Slide 8: Divisions — Information Management
Divisions — Information Management HY25 HY24 Change Revenue (£m) 106.5 875 22% Adjusting operating profit* (Em) 25,5) 24.6 4% Revenue (excluding postage costs)* (Em) 90.6 875 Adjusted operating margin* (%) 28.1% 28.1% - KPIs Boxes under management (m) 22 22 - Scanned image volume (m) 196 231 (15%) O
Slide 9: Divisions — Datashred
Divisions — Datashred Restore HY25 HY24 Change Revenue (£m) 20.2 175 15% Adjusting operating profit* (Em) 21 12 75% Adjusted operating margin (%) 10.4% 6.9% 350bps KPIs Tonnes of paper recycled (k) 29 27 7% Staff 363 302 20% Sites 12 9 3 Industry-leading KPIs achieved, with an increase in both avera
Slide 10: Divisions — Harrow Green
Divisions — Harrow Green Restore HY25 HY24 Change Revenue (£m) 157 174 (10%) Adjusting operating profit* (Em) 03 12 (75%) Adjusted operating margin (%) 1.9% 6.9% (S00bps) KPIs Desks relocated (k) 152 168 (10%) Staff 331 358 (8%) Sites 8 8 - * The complex office move market remains very challenging,
Slide 11: Divisions — Technology
Divisions — Technology HY25 HY24 Change Revenue (£m) 177 170 4% Adjusting operating profit* (Em) 12 - ra Adjusted operating margin (%) 6.8% 0% 680bps KPIs Assets processed (m) 03 0.6 (50%) Staff 315 359 (12%) Sites 6 6 - * Strategic shift continues within Technology, with the division continuing to
Slide 12: Cash generation continues to be strong
Cash generation continues to be strong Restore HY25 HY24 Variance (Em) (Em) (Em) Profit before tax 55 86 (3.1) Depreciation and amortisation 23.4 213 24 Net finance cost 79 74 0.5 Share-based payments 14 08 06 Earn-out remuneration 21 - 21 Working capital and other movements (0.5) (6.2) 5.7 Cash gen
Slide 13: Adjusting items
Adjusting items HY25 HY24 (£m) (Em) Amortisation 6.8 6.0 Acquisition and related costs 3.2 - Restructuring and redundancy costs 14 07 Property related costs 11 04 Strategic IT reorganisation - 0.6 Total adjusting items 12.5 77 Adjusting items — administrative expenses 5.3 16 Adjusting items — amorti
Slide 14: Outlook
Outlook
Slide 15: Business outlook
Business outlook Restore Strength of physical records storage business within Information Management continues to underpin Group profits and cashflow. Ongoing focus remains on improving operating margins Significant cost cutting within Information Management digital business, combined with new busin
Slide 16: Group outlook
Group outlook Restore * The Group made good progress and delivered a robust performance in H1 * Continued focus on improving adjusted operating margins, with the Group's 20% adjusted operating margin goal maintained * Cash generation remains strong * Value-accretive acquisition programme in our core
Slide 17: Appendices
Appendices
Slide 18: Capital allocation priorities
Capital allocation priorities Restore Invest for growth Deliver shareholder returns Invest in the business Target value accretive Maintain a progressive Consider return of where it accelerates acquisitions in our core dividend policy, with surplus capital to progress and will deliver business or adj
Slide 19: Glossary
Glossary Term Definition & calculation Adjusted operating profit Calculated as statutory operating profit before adjusting items Adjusted operating margin Calculated as adjusted operating profit divided by revenue, excluding Synertec postage costs of £15.9m (HY24: nil) Net operating profit after tax
Slide 20: For more information please visit
For more information please visit: www.restoreplc.com 7-10 Chandos Street, London, W1G 9DQ T: 020 7409 2420 E: info@restoreplc.com