**Summary of Forterra plc Full Year 2025 Trading Update (Released 22 January 2026):**
Forterra plc, a leading UK manufacturer of clay and concrete building products, reported strong performance for FY2025, with revenue of approximately £386 million, a 12% increase from £344.3 million in 2024, primarily driven by sales volumes. Adjusted EBITDA met market expectations, with margin progression, while adjusted PBT and adjusted EPS exceeded forecasts due to lower interest and depreciation charges.
Key highlights include
**Revenue growth** Up 12% year-on-year to c.£386 million.
**Debt reduction** Net debt before leases decreased to c.£56 million (from £84.9 million in 2024), with leverage at approximately 1x adjusted EBITDA, returning to targeted levels.
**Market performance** UK domestic brick despatches outperformed the wider market, with a 6% increase in the 11 months to November 2025, supported by exposure to housebuilding and recovering market share.
**Outlook** Despite near-term uncertainties related to the late November 2025 Budget and December interest rate cut, long-term market fundamentals remain positive, driven by housing shortages, government initiatives, and constrained supply of building products. The company’s investments in production capacity position it well for structural growth and recovery.
Full year results are scheduled for 11 March 2026, with further details on capital allocation priorities expected then.