Slide 1: FY26 Annual Results Presentation
FY26 ANNUAL RESULTS PRESENTATION 24 JUNE 2026
Slide 2: Agenda
AGENDA a HIGHLIGHTS STRATEGY FINANCIAL CURRENT SUMMARY Q&A UPDATE REVIEW TRADING & OUTLOOK Lee Tappenden Lee Tappenden Dan Walden Dan Walden Lee Tappenden CEO CEO CFO CFO CEO
Slide 3: FY26 Highlights
FY26 HIGHLIGHTS • Record sales performance, strong trading momentum New customers L12M active customers • Outperformed the kitchenware market by 20%pts 918k 1.4m +24.6% YoY +24.0% YoY • 13 new stores, eight in new format, taking total to 78 Revenue LFL Revenue • Operating profit margin increased by
Slide 4: Enhancing value through own brand, direct to consumer model
ENHANCING VALUE THROUGH OWN BRAND, DIRECT TO CONSUMER MODEL Unbeatable value Award - winning quality Direct - sourced own - brand product range At every price point, we offer high through well established supplier base quality, thoughtfully designed • Offers better value for customers products that
Slide 5: Strategy Update
STRATEGY UPDATE Lee Tappenden CEO
Slide 6: Delivering on our strategic plan
DELIVERING ON OUR STRATEGIC PLAN Grow brand 2. Improve operating 1. Accelerate profitable awareness and customer Resilient efficiency sales growth engagement and Scalable Best in class Tech Improved gross margins, 23% revenue growth, customer ACCELERATING WTH IMP service GRO RO marketing efficiency
Slide 7: Expanding our store estate
EXPANDING OUR STORE ESTATE Key element of our 100:100:10 ambition 13 • 13 new stores in FY26 25x new stores opened since strategy New stores • £10m+ mature sales expectation launch opened • >200m centre visitors 8 • • 2Y payback target £250 - 300k investment per store In new format • Financial disci
Slide 8: New store format: a significant step forward in customer and brand experience
NEW STORE FORMAT: A SIGNIFICANT STEP FORWARD IN CUSTOMER AND BRAND EXPERIENCE New “kitchen” checkout New knives fixtures New electricals fixtures Increased shelf fill, and backwall providing provide experiential test showcase range and improves availability and inspiration and digital zone and impro
Slide 9: Strengthening our product offer
STRENGTHENING OUR PRODUCT OFFER • New product launches accelerating • Tableware range refresh bringing newness in largest category • Kitchen tools resourced and relaunched • Baking and storage ranges extended • Adding seasonal relevance and stronger promotional campaigns • Expanded Black Friday camp
Slide 10: Tableware range refresh
TABLEWARE RANGE REFRESH 3 new ranges of core Extended and New designs dinnerware refreshed textiles launched in cutlery Additional seasonal launches Design - led with more colour Expanded range options Expanded Real wood serveware Little Kitchen kids accessories range launch range launch Increased s
Slide 11: Best in class customer service: Retail
BEST IN CLASS CUSTOMER SERVICE: RETAIL Renewed focus to further strengthen retail service as a key point of difference • New service and selling model rolled out • New incentive programme driving performance • Focused top 5 KPIs • Detailed work on resource scheduling and contracted hours to improve
Slide 12: Best in class customer service: Ecommerce & CS
BEST IN CLASS CUSTOMER SERVICE: ECOMMERCE & CS CX improvements delivered both online and through our customer service operations • Improving customer experience online • Personalised product recommendations • AI- based age verification • Continued improvements in CS response times • Increased answer
Slide 13: Growing brand awareness and customer engagement
GROWING BRAND AWARENESS AND CUSTOMER ENGAGEMENT New customers acquired 723 737 918 +24.6% 692 687 YoY 417 +17.1% 5Y CAGR FY21 FY22 FY23 FY24 FY25 FY26 L12M active customers 1,047 1,130 1,401 +24.0% 974 991 YoY 557 +20.3% FY21 FY22 FY23 FY24 FY25 FY26 5Y CAGR
Slide 14: Growing brand awareness and customer engagement
GROWING BRAND AWARENESS AND CUSTOMER ENGAGEMENT Expanding our retail estate, >300m centre visitors from 12 new stores LY and 13 new TY, halo effect 208k new customers online In L12M from new store openings Increasing reach through social media; website 57k new customers traffic from social channels
Slide 15: Social media acceleration
SOCIAL MEDIA ACCELERATION Investment in paid social marketing delivering strong results • Attributed revenue +93% YoY • 7.4% reduction in underlying Cost Per Acquisition YoY* • Extending to test in more channels Organic social driving improved engagement • Followers +46% YoY • Engagement rate +160%
Slide 16: Doing business the right way for our colleagues, communities and customers
DOING BUSINESS THE RIGHT WAY FOR OUR COLLEAGUES, COMMUNITIES AND CUSTOMERS A GREAT PLACE TO WORK BEING A FORCE FOR GOOD • Maintained excellent engagement score 77% • B Corp re - certification with 16% increase in B Impact score • Rank 70 by UK Best Places to Work TM • £60k raised for Magic breakfast
Slide 17: Investing to support our medium term ambition and beyond
INVESTING TO SUPPORT OUR MEDIUM TERM AMBITION AND BEYOND Revenue Operating Investment area Key points Status growth efficiency • Influencer and creator network Launched Content creation • Acquired content library FY26 Technology change • £1m investment over 3Y Launched programme • Customer and colle
Slide 18: Compelling technology programme will deliver significant customer, AI and operational benefits
COMPELLING TECHNOLOGY PROGRAMME WILL DELIVER SIGNIFICANT CUSTOMER, AI AND OPERATIONAL BENEFITS Microsoft 365 BC LS Retail Loop returns Retention capability Full ERP adoption Mobile POS Pre & post purchase Retail configured Clientelling AI powered Operational control Loyalty capability Fraud preventi
Slide 19: Supply chain transformation: our next phase with DHL Supply Chain
SUPPLY CHAIN TRANSFORMATION: OUR NEXT PHASE WITH DHL SUPPLY CHAIN • Areas we are addressing: • DHL Supply Chain: o Flexibility and scalability for o Strong cultural alignment growth o Long term partnership approach o Managing peak demand spike o Proven multichannel expertise o Driving operational ef
Slide 20: Refit trials to commence in FY27, all new store locations will be in new format
REFIT TRIALS TO COMMENCE IN FY27, ALL NEW STORE LOCATIONS WILL BE IN NEW FORMAT • Initial results from new format encouraging Potential to create a consistent and • Improved densities creating space for range expansion compelling format across retail estate, • Eight new format stores ahead of busine
Slide 21: Financial Review
FINANCIAL REVIEW Dan Walden CFO
Slide 22: Strong financial progress across all key measures
STRONG FINANCIAL PROGRESS ACROSS ALL KEY MEASURES REVENUE GROSS PROFIT EBITDA FY26 +23.0% £85.5m FY26 +26.2% £57.7m FY26 +39.6% £12.5m FY25 £69.5m FY25 £45.7m FY25 £8.9m FY24 £62.6m FY24 £41.1m FY24 £6.8m LFL REVENUE % GROSS MARGIN NET CASH/ DEBT FY26 11.8% FY26 +170bps 67.5% FY26 £4.4m FY25 4.9% FY
Slide 23: Continued momentum in revenue growth
CONTINUED MOMENTUM IN REVENUE GROWTH Total revenue growth of +23.0% to £85.5m in FY26, with LFL sales growth of +11.8% 28.0% 25.1% 19.2% 17.8% 13.7% 11.2% 8.8% 5.0% 5.6% 3.0% (2.5%) (1.8%) (7.6%) (6.7%) (9.7%) FY26 Total +23.0% LFL +11.8% (22.6%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23
Slide 24: Revenue growth underpinned by strong LFL growth
REVENUE GROWTH UNDERPINNED BY STRONG LFL GROWTH Revenue growth by channel (£m) Retail +23.1% YoY Ecomm +22.9% YoY TOTAL +23.0% YoY +11.8% LFL 5.3 0.5 85.5 +5.7% LFL 8.0 Amazon Marketplace +21.2% LFL 2.2 69.5 25 new stores TY & LY FY25 LfL Retail Non - LfL Retail LfL Ecomm Non - LfL Ecomm FY26 LFL (L
Slide 25: Strong improvement in gross margin above top end of guidance range
STRONG IMPROVEMENT IN GROSS MARGIN ABOVE TOP END OF GUIDANCE RANGE +170 bps £m FY26 FY25 YoY% Gross margin % trend Gross profit 57.7 45.7 26.2% 67.2% 67.5% 65.7% 65.8% Gross margin % 67.5% 65.8% +170 bps 61.5% Ecommerce gross margin % 69.6% 66.9% +270 bps Retail gross margin % 66.3% 65.1% +110 bps F
Slide 26: Improved operating margin YoY despite dilutive impact of new stores
IMPROVED OPERATING MARGIN YOY DESPITE DILUTIVE IMPACT OF NEW STORES PRE MATURITY AND GROWTH INVESTMENTS Operating profit YoY (£m) 1.5 10.5 Accelerated Investments Content creation 0.3 Tech change 0.5 Customer acquisition 0.2 (6.1) 1.3 5.7% (2.2) (1.6) 4.6% (1.0) 4.9 (0.3) (0.3) 3.2 FY25 OP Revenue i
Slide 27: New and maturing stores will support operating profit and EBITDA growth
NEW AND MATURING STORES WILL SUPPORT OPERATING PROFIT AND EBITDA GROWTH IN FY27 AND BEYOND Store maturity and accounting impacts Revenue profile Operating margin % Assuming store stays open past Y5 break, fit out fully ~90% of ~80% of mature depreciated mature ~20% ~15% ~5% Y1 Y2 Y3 Y4 Y5 Y6 Y1 Y2 Y
Slide 28: Underlying operating margin improves before new store dilution
UNDERLYING OPERATING MARGIN IMPROVES BEFORE NEW STORE DILUTION. U/L PBT +64.5% YOY AFTER £0.8M FX IMPACT £m FY26 FY25 YoY £m FY26 FY25 YoY Revenue 85.5 69.5 23.0% O perating profit 4.9 3.2 51.4% Gross profit 57.7 45.7 26.2% OP % 5.7% 4. 6% 1.1% pts GP% 67.5% 65.8% 170bps Ecomm % 31.5% 26.2% 5 .3 % p
Slide 29: Free cash flow accelerates YoY, even after £5.1m capital investment
FREE CASH FLOW ACCELERATES YOY, EVEN AFTER £5.1M CAPITAL INVESTMENT £m FY26 FY25 • D&A increases by £1.9m YoY as a result of new store Reported profit before tax 2.5 1.2 expansion D&A, impairment and loss on disposal 7.6 5.7 • £2.3m working capital inflow ahead of guidance: Share based payments 0.3
Slide 30: Current Trading and Outlook
ProCook Let's get cooking. CURRENT TRADING AND OUTLOOK Gorporation
Slide 31: Continued strong momentum in Q1 despite soft market backdrop
CONTINUED STRONG MOMENTUM IN Q1 DESPITE CURRENT SOFT MARKET BACKDROP £m Q1 FY27 Q1 FY26 YoY% Significant market outperformance Revenue 15.6 12.8 +21.5% • Total revenue +21.5% , LFL revenue +11.5% Ecommerce 5.6 4.4 +27.9% • Retail LFL + 2.5%, with new stores increasing total Retail 10.0 8.4 +18.2% ch
Slide 32: FY27 Outlook: making strong progress towards our medium term ambition
FY27 OUTLOOK : MAKING STRONG PROGRESS TOWARDS OUT MEDIUM TERM AMBITION P&L • 5 to 8 net new stores, plus annualisation and maturity of the new stores opened in last couple of years • Mid single - digit LFL revenue growth, weighted towards Ecommerce • GM% broadly flat YoY • Tech change programme £0.6
Slide 33: Operating margins improve with leverage of fixed cost base and as new stores reach maturity
OPERATING MARGINS IMPROVE WITH LEVERAGE OF FIXED COST BASE AND AS NEW STORES REACH MATURITY Revenue ambition £m 100 1- 2 1- 2 0-1 100 2- 4 5 - 10 23 86 UK retail stores 63 £100m FY24 FY25 - FY26 To date Operating profit margin % ambition New stores Product offer Service Brand Supply chain MT mission
Slide 34: Summary
Pro Let's get cooking. SUMMARY Lee Tappenden CEO Gorporation
Slide 35: Confident of delivering medium term plan
CONFIDENT OF DELIVERING MEDIUM TERM PLAN 100 UK STORE ESTATE £100m REVENUE 10% OPERATING PROFIT MARGIN MT Plan 100 MT Plan 100 MT Plan 10.0% FY26 78 FY26 86 FY26 5.7% New strategy FY25 66 FY25 70 FY25 4.2% launch FY24 57 FY24 63 FY24 3.3% 0 50 100 0 50 100 0.0% 5.0% 10.0% ON TRACK ON TRACK ON TRACK
Slide 36: Summary
SUMMARY Unique business Excellent trading Significant Our plan is Taking early steps model and momentum. improvement in accelerating to accelerate proposition clearly Substantial growth in financial performance profitable growth – beyond our resonating with our customer base and position benefits ar
Slide 37: Appendices
ProCook Let's get cooking. APPENDICES Gorporation
Slide 38: An experienced retail leadership team to drive strategy execution
AN EXPERIENCED RETAIL LEADERSHIP TEAM TO DRIVE STRATEGY EXECUTION Lee Tappenden Dan Walden Laurie Houghton CEO CFO Commercial Director • Lee joined ProCook in September • Dan joined ProCook in May 2021 • Laurie Houghton joined ProCook as 2023 and has extensive retail • Previously CFO of Booking.com
Slide 39: Financial position
FINANCIAL POSITION £m 29 March 2026 30 March 2025 Non - current assets 13.5 11.3 Right of use assets 27.0 21.0 Inventories 14.0 12.1 Trade and other receivables 2.3 2.5 Corporation tax 0.0 0.1 Cash and cash equivalents 4.4 2.8 Total current assets 20.7 17.4 Trade and other payables (18.0) (13.9) Lea
Slide 40: Cash flow statement
CASH FLOW STATEMENT £m FY26 FY25 Revolving credit facility Reported profit before tax 2.5 1.2 Facility £15.0m D&A, impairment and loss on disposal 7.6 5.7 Expiry April 2029, with two +1 extensions Share based payments 0.3 0.3 Committed Yes Finance expense 1.5 1.4 Covenants FX losses / (gains) - 0.2
Slide 41: IFRS 16 impact
IFRS 16 IMPACT £m FY26 Reported FY25 Underlying Reported IFRS 16 Pre - IFRS 16 Reported IFRS 16 Pre - IFRS 16 Revenue 85,487 85,487 69,493 69,493 Cost of sales (27,793) (27,793) (23,778) (23,778) Gross profit 57,694 57,694 45,715 45,715 Operating expenses (45,243) (5,378) (50,621) (36,795) (4,722) (
Slide 42: Medium term ambition and key drivers launched in June 2024
MEDIUM TERM AMBITION AND KEY DRIVERS LAUNCHED IN JUNE 2024 Revenue ambition £m 100 2- 5 1- 2 100 5 - 10 5 - 10 15 - 25 UK retail stores 63 £100m FY24 New stores Product offer Operating profit margin % ambition Service Brand Supply chain MT mission Revenue 3% - 4% 10% 1% - 2% 0% - (1)% 10% 0.5% - 1.5
Slide 43: Glossary
GLOSSARY 12m 12 month period GP Gross profit ATV Average Transaction Value H1 First half of the financial year (28 weeks) bps Basis points H2 Second half of the financial year (24 weeks) CS Customer Services KPI Key Performance Indicator CX Customer Experience L12M Last 12 Months CRM Customer Relati