Sheffield Insulations Group (SHI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Morning everybody, hope you're all well. Welcome to SIG's H1 2025 results presentation. I'm Ian Ashton, the Group's CFO, and I'll take you through our results and progress over the last six months. This will take about 25 minutes, I expect, and at the end we'll of course have time for questions. So the agenda, as you can see here, I'll give a quick overview of the half, then cover the financial results, and then give some colour on the progress we're making across our businesses. And the next slide, but before our results, as you'll hopefully have seen, we were very pleased to announce on the 8th of July that Pim Verwaert will be joining as a CEO on the 1st of October. And we'll then move up to the chair role after 18 months or so. Pim has a lot of very relevant experience. And having, of course, met him, I know he'll bring a lot of energy to his role and to the group and indeed fresh insights. He's looking forward to the challenge and we're looking forward to having him on board. He'll be introducing himself to our investor and analyst community during quarter four. While this transition is taking place, our managing directors in each business have a very clear plan and focus on what needs to be done over the coming months, and the performance over the first half reflects, I believe, the strength of the wider management team. Onto the summary of H1. The key message is that we've continued to perform well relative to the markets in which we operate, but that those markets do remain stubbornly subdued and challenging. I'll cover the numbers in more detail on later slides, but overall we grew like-for-like sales by 1% over last year. Within that, the standout was the UK, where we grew 5% in aggregate. As well as outperforming our markets, we've continued to focus on sh...