2025 Full Year Trading Update

29 January 2026

HILTON FOOD GROUP PLC

2025 FULL YEAR TRADING UPDATE

Hilton Food Group plc ('Hilton Foods' or 'the Group'), the leading international multi-protein food business, today provides a trading update for the 52-week period to 28 December 2025.

· 2025 adjusted financial results expected to be in line with expectations

· Continuing caution on 2026 outlook

Full Year 2025 Performance

· Full year 2025 adjusted profit before tax expected to be within the previously provided guidance range of £72m to £75m.

· Net bank debt expected to be around £135m (FY2024 £131.4m). This reflects recent divestments, and a planned partial unwind of inventory built in the UK in the first half of 2025 to support peak seasonal demand.

· As expected, good Christmas trading across red meat and salmon categories.

· Continued strength in long-term customer partnerships has led to successful contract renewals in core retail meat partnerships in the Netherlands and Denmark.

· Foppen continues to supply smoked salmon to the US market from its Netherlands facility, following ongoing restrictions imposed at its facility in Greece. US stock write-offs are now expected to be significantly higher than previously indicated. The Group currently anticipates treating this cost as a non-underlying item.

All 2025 reported financial figures remain subject to audit.

2026 Outlook

We expect the restrictions on smoked salmon exports from Greece to the US to remain for at least the first half of 2026 and the inflationary pressures in beef and white fish to continue. While we are actively working on opportunities for business transformation and profit improvement against this backdrop, we remain cautious on the outlook for the year. We now expect 2026 adjusted profit before tax to be within the range of £60m to £65m.

Strategic Review

The Group's strategic review is nearing completion. We will share its conclusions and provide further detail, including updated key performance indicators and refreshed medium term targets, alongside our 2025 full year results.

The review is expected to reinforce Hilton Foods' focus on the core meat capabilities that have underpinned its long-term success. It is also expected to highlight those areas that sit outside these core competencies and the strategic options available to maximise value for the Group. Operationally, the review is expected to identify opportunities for efficiencies and investment, including supporting further growth into new geographies.

The recently announced enhanced senior leadership structure will support delivery of the review's outcomes.

The Group will announce its 2025 full year results on 31 March 2026.

Mark Allen OBE, Executive Chair said:

"We're pleased that Christmas trading was in line with our expectations, which reflects the continued strength of our partnerships with customers. However, the Group continues to be impacted by the situation at Foppen and sustained elevated inflation levels. Hence, we are taking a cautious approach to guidance for 2026.

"Supported by the Board, our strategic review is expected to reaffirm the focus on our core meat capabilities and highlight opportunities to drive sustainable long-term value. I am delighted to welcome Samy Zekhout and Melanie Chambers into their expanded executive roles as Chief Operating Officers. With the support of the enhanced leadership structure, we remain confident in Hilton Foods' long-term prospects. We look forward to sharing further detail, including updated performance indicators and medium-term targets, at the 2025 full year results in March."

END

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/204 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) and has been authorised for release by Robin Miller Group General Counsel and Company Secretary.

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