Pre-Close Trading Update

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

24 April 2025

Brickability Group plc  

("Brickability", the "Group" or the "Company") 

Pre-Close Trading Update

Full year performance ahead of market expectations

Brickability Group plc (AIM: BRCK), a leading construction materials distributor, is pleased to provide a pre-close trading update for the financial year ended 31 March 2025 ("FY25").

Group revenue for the full year is expected to be approximately £637 million, an increase of c.7% over the prior year (FY24: £594.1 million) and c.1% higher on a like-for-like ("LFL") basis. This outturn reflects good momentum in trading throughout the second half of the financial year, notwithstanding subdued market conditions, and a strong final quarter in the Group's Contracting Division where a number of projects within its specialist cladding and fire remediation businesses were delivered ahead of schedule and prior to the FY25 year-end.

FY25 Group adjusted EBITDA1 is expected to be ahead of market expectations2 at approximately £50.0 million, c.11% ahead of the prior period (FY24: £44.9 million).

The Group remains in a strong financial position, with leverage3 as at 31 March 2025 expected to be approximately 1.14x, a reduction from both the year ended 31 March 2024 and the half year ended 30 September 2024.

The Group will notify the date of publication of its results for the twelve months ended 31 March 2025 in due course.

Frank Hanna, Chief Executive Officer, said:

"The well-diversified revenues and strong profitability delivered in FY25 see the Group move into FY26 with an increasingly healthy financial position, and a business that is built for material growth as our end markets recover. In that regard, we believe that further reductions in UK interest rates would assist positive momentum in housing starts and the RMI market. At the same time, the Board remains vigilant of ongoing volatility in global capital markets and any potential impact on UK housebuilding.

"We look forward to providing further detail on our recent progress in our FY25 results."

1 Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortisation, share option expense, acquisition costs and exceptional items.

2 Company compiled analyst consensus, prior to this announcement, is for FY25 adjusted EBITDA of £48.85m.

3 Leverage is defined as net debt (pre-IFRS and excluding lease liabilities and deferred/contingent acquisition consideration) divided by adjusted EBITDA.

-ENDS-

About Brickability

Brickability Group PLC is a leading distributor and provider of specialist products and services to the UK construction industry. The business comprises four divisions: Bricks and Building Materials, Importing, Distribution and Contracting. With an agile, de-centralised, capital-light business model, supported by a strong balance sheet, Brickability leverages the skills of its people company-wide to effectively service the complex and evolving needs of the construction industry.

 Founded in 1985, the Group has grown organically through product diversification and geographic expansion, as well as through the acquisition of specialist businesses that support its long-term strategy for growth. Today, the Group encompasses a diverse portfolio of market-leading brands and a dedicated team of over 800 skilled professionals, led by a management team with deep-rooted knowledge and experience in the UK and European construction industries.