Revolution Beauty Group (REVB) Trading Update summary

FY25 performance and portfolio changes

• Revenue for FY25 was approximately £141.6m, down 26% year-on-year due to rationalisation of product and brand portfolio.

• Over 6,000 SKUs were discontinued to create a scalable and profitable foundation.

• Underlying adjusted EBITDA expected between £6.0m and £6.5m, with £9.2m in stock provision charges.

• Gross inventories reduced from £60m to £33m; cash at year-end was £5.7m and net debt £26.3m.

• FY25 results remain subject to audit and potential adjustments.

FY26 outlook and current trading

• Double-digit net sales declines expected to continue into Q1 FY26, with March and April softer than planned.

• Weakness in pure play digital retailers (excluding Amazon) and US market cited as key factors.

• New Product Development SKUs launched in February 2025 showed encouraging sales.

• Brand consideration in the UK improved, now ranked fourth for make-up, up from sixth a year ago.

• Cost reductions and simplified portfolio expected to mitigate lower sales impact on FY26 EBITDA.

Strategic initiatives and product launches

• First orders landed for new RELOVE budget make-up brand targeting value and grocery channels.

• Retail distribution expanded for the master brand into Walmart, DM Germany, and new skincare range for Gen Z.

• Innovative mascara product Wrap Lash launched recently.

• Digital fast-track program to be expanded in H2 FY26.