THG PLCs preliminary FY 2025 results show significant growth, with adjusted EBITDA ahead of guidance and a profit after tax of £54.1m. The company achieved broad-based continuing CCY revenue growth, with a record H2 performance. Key highlights include
Full-year revenue growth of +2.3%, with H2 performance c.15% ahead of consensus.
Adjusted EBITDA of £76.6mahead of guidance and consensus.
Profit after tax of £54.1msupported by disposals.
£162m gross debt reduction and £103m cash proceeds from the sale of Claremont Ingredients.
Strong start to FY 2026, with revenue and Adjusted EBITDA expectations unchanged.
Significant positive developments in the HMRC case regarding protein powder VAT treatment.
The companys strategic initiatives, including the demerger of THG Ingenuity and the disposal of Claremont Ingredients, have simplified the group and strengthened its financial foundations. THG Beauty and THG Nutrition both delivered strong performances, with THG Beauty achieving a record Q4 and THG Nutrition expanding its offline and licensing channels. The company enters 2026 with strong trading momentum and a focus on material free cash flow delivery.