FY26 Trading Update

26 August 2026

Applied Nutrition plc

(the "Group")

FY26 Trading Update and FY27 Outlook

FY261 adjusted EBITDA and revenue ahead of market expectations, FY27 guidance above consensus2

Applied Nutrition plc, a leading sports nutrition, health and wellness brand, today announces an update on trading for the financial year ended 31 July 2026 ("FY26") and outlook for the financial year ending 31 July 2027 ("FY27").

FY261 Trading Update

Further to the announcement on 1 June 2026, trading continued to be strong with sustained demand across the Group's markets and channels. Excluding any amounts from the acquired trade and assets of Nutrablend in June, the Board now expects FY26 adjusted EBITDA to be ahead of consensus market expectations2, increasing by 40% year-on-year to approximately £43.3m (FY25: £30.9m). Additionally, revenue is ahead of market expectations2 having increased 50% year-on-year to £160m (FY25: £107m). Net cash (excluding IFRS 16 liabilities) at the close of FY26 was £15.9m, following the acquisition of the trade and assets of Nutrablend, capital expenditure on the production extension and increased working capital to support growth.

FY27 Outlook3

Building on the strong momentum achieved in FY26, the Group now expects total adjusted EBITDA for FY27 to grow year-on-year to approximately £49m (+13% year-on-year) and revenue to increase to approximately £205m, both ahead of current consensus market expectations2.

While the Board expects continued strong revenue and EBITDA growth across the Group, FY27 EBITDA margin is expected to decrease slightly from FY26 levels. This reflects an increased revenue contribution from the US, together with significantly higher whey protein costs and a greater proportion of sales from whey-based products, partly following the very successful relaunch of Critical Whey in FY26.

Notice of Results

The Group expects to release its results for FY26 on, or around, 16 November 2026.

Notes:

1 All figures used in this announcement relating to FY26 remain subject to audit.

2 Consensus market expectations as calculated by the Group immediately before this announcement are: 

The Group periodically updates these calculations and publishes them at: https://www.appliednutritionplc.com/consensus-earnings-estimates

3 Please see cautionary note regarding forward-looking statements below.

Further information and contacts

Notes to editors

Applied Nutrition plc (LSE: APN) is a leading sports nutrition, health and wellness brand, which formulates and creates nutrition products with a stated aim of being the world's most trusted and innovative brand in the market.

Headquartered in the UK, the Group sells products in over 85 countries worldwide and has a diverse product range, targeting elite athletes, gym goers and health-conscious consumers. Applied Nutrition has developed and launched four ranges under the umbrella of the Applied Nutrition brand - Applied Nutrition, ABE, BodyFuel, and Endurance. Across the four ranges, the Group sells over 120 different products. In addition, the Group also owns the "Basic Supplements" brand.

The Group's success has been built on an exceptional product range developed in-house in Knowsley, Liverpool & Buffalo, New York by experts, allowing products to be developed efficiently delivering innovation to the market, keeping existing products up to date, and introducing products aligned with latest trends.

The Group largely operates a global business-to-business (B2B) model, which has facilitated a low risk, highly cost-effective go-to-market strategy and has enabled strong, profitable growth in the UK, Europe and other international geographies. The vertically integrated B2B business model and strategy has enabled the Group to become a fast-growing, highly profitable and cash generative global supplier in the sports nutrition, health and wellness market.

For further information, please visit www.appliednutritionplc.com

Forward-looking statements

Cautionary Statement - Certain statements included or incorporated by reference within this announcement may constitute "forward-looking statements" in respect of the Group's operations, performance, prospects and/or financial condition. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words and words of similar meaning as "anticipates", "aims", "due", "could", "may", "will", "should", "expects", "believes", "intends", "plans", "potential", "targets", "goal" or "estimates". By their nature, forward looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met, and reliance should not be placed on any forward-looking statement. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast. This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares or other securities in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares or other securities of the Company. Past performance cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser. Statements in this announcement reflect the knowledge and information available at the time of its preparation. Liability arising from anything in this announcement shall be governed by English law. Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.