Key customer expansion underpinning future growth

12 March 2025 

Applied Nutrition plc(the "Group")

Applied Nutrition announces key customer expansion underpinning future growth 

Applied Nutrition plc, a leading sports nutrition, health, and wellness brand, is delighted to announce a key strategic update with Holland and Barrett and three new material listings within the US.

The Group has strengthened its partnership with Holland & Barrett, the UK's leading health and wellbeing store, through reaching agreement on a joint business plan ('JBP'). As part of the agreement, Holland & Barrett will increase distribution of currently listed products and will take additional products in both new and existing categories, aligning to the strategic pillar of expanding shelf-space and distribution points with existing partners. Alongside this, the JBP will provide Holland & Barrett early access to new product development (NPD), allowing them to take new products to market quickly. The first order under the new JBP was received this month and included the new Coleen Rooney range, which will be available in 500 stores. This agreement has the potential to increase the revenue contribution from one of the Group's largest customers threefold when comparing FY24 to FY26 spend.

In the US, the Group has agreed three new listings with major retailers GNC Corporate, one of the largest specialty retailers in the US, Hy-vee, the largest regional grocery chain in the Midwest, and H-E-B, the leading grocery chain in Texas. These new listings will result in multiple SKUs from both the AN core and ABE ranges being available in more than 1,000 additional stores nationwide, covering the full Hy-vee and H-E-B estates, with opportunities to expand across the remaining GNC estate. These listings align with the strategic pillar of expanding across geographies and channels by developing new customer relationships in key international markets and are expected to start contributing to revenue during H2 FY25 with an annualised spend of $3m.

Together these two strategic updates underpin more than half of the Group's FY26 revenue growth based on current consensus1.

Thomas Ryder, CEO of Applied Nutrition, said:

"It is great to see such momentum with existing and new customers, further reinforcing the growth potential of the business. Not only are we significantly strengthening and growing our trade with existing key valued partners such as Holland & Barrett we are also securing new listings from major retailers in the US which is a key growth market. We look to the future with confidence and we remain focused on driving profitable growth throughout H2 and beyond."

1 Current FY26 consensus revenue of £112.0m

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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 approximately 100 different products.

The Group's success has been built on an exceptional product range developed in-house in Knowsley, Liverpool, by a team of experts, allowing products to be developed efficiently delivering new 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 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