Business
Trading Update
Victoria PLC has revised its outlook for FY2026, now expecting post-IFRS16 EBITDA to be approximately £95 million, a decrease from previous market expectations of £110.7 million, with Q4 revenue anticipated to be around 5% below FY25 levels due to weak consumer confidence and footfall impacting trading in early January. Despite a c.3% year-on-year revenue decline in Q3, partially due to Rugs manufacturing transitions, the company is progressing with EBITDA improvement initiatives including new product lines and business integrations, while also advancing capital structure and cash initiatives such as property sales and improved receivables and inventory management. Disclaimer*
About this update from Victoria Plc
23 February 2026 This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Victoria PLC ('Victoria' or the 'Company') Trading Update Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, provides a trading update and outlook for FY2026. Year-to-Date Trading and Outlook The year-on-year revenue trend in Q3 improved showing a c.3% decline vs c.7% decline in H1. Lower shipment volumes as the Rugs business transitions manufacturing from Belgium to Turkey accounted for over half of the revenue decline in Q3. This was partially offset by ongoing market share gains and customer wins in UK Carpets, and a strong performance in Australia in particular. Excluding Rugs, year-on-year revenue declined approximately 1.5% in Q3. Trading in the first half of January, however, was significantly impacted by weak consumer confidence and weak footfall at our end customers due to geopolitical events across our key markets: western Europe; North America and the UK. Whilst recent weeks have shown improvements in trading, the board now expects Q4 revenue to be below its previous expectations and approximately 5% below FY25. As a result, the board expects post-IFRS16 EBITDA to be approximately £95m for FY26 as a whole*. Progress on EBITDA improvement initiatives Management's immediate focus remains on delivering EBITDA improvement initiatives within our control. The first sales from the new V4 ceramics line in Spain are being delivered in Q4, which will drive growth and improved EBITDA in our Spanish ceramics business through FY27 and beyond. The relocation of Rugs manufacturing from Belgium to Turkey also continues to progress in line with expectations, albeit shipping disruptions have been greater than anticipated. The first stages of integrating our UK Underlay businesses and Australian businesses announced at the HY results are also expected to be completed before the end of March. Whilst a lower starting point on volume will reduce the outlook for 2027, the curren...