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Warpaint London (W7L) investor relations material
Warpaint London H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue reached £49.3m in H1 2025, up 7.6–8% year-over-year, driven by the Brand Architekts acquisition and international expansion despite challenging macroeconomic conditions.
Gross profit margin improved by 250bps to 45.0%, with like-for-like margin (excluding Brand Architekts) up 300bps to 45.5%.
Adjusted EBITDA was £10.8m, down 5–5.3% year-over-year, and profit before tax fell 41% to £6.4m, mainly due to £4.6m in non-cash FX losses and £1.3m in exceptional acquisition costs.
Cash and cash equivalents at period end were £17.0m, including £14.0m held in escrow for the Brand Architekts acquisition, aided by £6.2m acquired from Brand Architekts.
Interim dividend increased 14–14.3% to 4.0p per share.
Financial highlights
Revenue increased to £49.3m from £45.8m in H1 2024, a 7.6–8% year-over-year rise.
UK revenue up 15.9% to £18.0m; international revenue up 3.2% to £31.3m.
Brand Architekts contributed £6.1m in H1 2025, 12% of group revenue.
Adjusted EPS fell 13% to 8.5p, reflecting increased share count post-acquisition.
Net cash flow from operations was £5.4m, up from a £2.0m outflow in H1 2024.
Outlook and guidance
Full-year 2025 revenue expected between £107m and £112m, with adjusted EBITDA between £23.5m and £25.5m.
H2 performance expected to be stronger, supported by price increases, store rollouts, and Christmas gifting.
Cautious outlook due to weak UK consumer environment, US tariff uncertainty, and a key customer administration.
- TimeTickerHeadlineOpen
- 5 FebMNDO
Revenue and profit declined in Q2 2025 amid market contraction and a major dividend payout. - 5 FebSLQT
Revenue up 12% to $537.1M, with revised FY2026 guidance and new $415M credit facility. - 5 FebPSMT
All proposals passed with strong support, and no shareholder questions were raised. - 5 FebHDD
Net sales and EBITDA margin improved, but orders and cash flow remain pressured by headwinds. - 5 FebMNDO
Revenue and profit declined, but cash flow rose; $2.4M share buyback plan approved. - 5 FebLSAK
Net revenue up 16%, adjusted EBITDA up 47%, and first positive net income since 2022. - 5 FebSIRI
2025 beat guidance with strong cash flow and podcast growth; 2026 outlook stable and disciplined. - 5 FebMETSB
2025 saw sharp losses but strong cash flow and transformation actions set up for recovery. - 5 FebRSI
Q1 2026 saw 18% EBITDA growth, strong margins, and LEAP project progress despite lower revenues. - 5 FebGEG
Net loss of $16.5M on $3M revenue, with 4% AUM growth and $51.2M in cash.
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