BRCK Group (BRCK) H2 2025 earnings summary

Executive summary

• Delivered solid performance amid macroeconomic and geopolitical uncertainty, with strategic acquisitions Topek and TSL contributing strongly in their first full year.

• Continued diversification, with Bricks and Building Materials now 66% of revenue and 43% of adjusted EBITDA, down from 71% and 56% last year.

• Upowa achieved strong revenue growth, and ESG strategy advanced with expanded Scope 3 reporting.

• Sold interest in Apex Brickcutters and a freehold property post year-end; trading in the new year aligns with management expectations.

Financial highlights

• Revenue rose 7.2% year-over-year to £637.1m; adjusted EBITDA up 11.6% to £50.1m, with margin improving to 7.9%.

• Adjusted profit before tax increased 7.1% to £37.8m; adjusted EPS slightly down 0.8% to 8.59p.

• Gross profit margin improved 130bps to 19.1% year-over-year.

• Net debt stable at £56.6m, leverage at 1.13x adjusted EBITDA.

• Proposed dividend per share up 4.8% to 3.51p.

Outlook and guidance

• Trading in the current year remains in line with expectations despite delays in UK interest rate cuts and regulatory approvals affecting some fire remediation projects.

• Housing market fundamentals remain strong, with a significant shortfall in supply.

• Ongoing diversification and market-leading positions position the group to benefit from market recovery.

• Continued evaluation of earnings-accretive acquisitions.