Victoria (VCP) Trading Update summary

Financial performance and outlook

• FY2025 revenue will be at least £1.11bn, with post-IFRS 16 EBITDA in line with market expectations.

• Q4 FY2025 showed sequentially improving EBITDA margins, expected to be the most profitable Q4 compared to FY2024.

• UK businesses have seen monthly performance improvements since January, driving increased profitability.

• FY2026 is expected to benefit from productivity improvements, ongoing self-help initiatives, and a lower interest rate environment.

• The Board maintains a cautious outlook due to recent US tariff announcements and their potential impact.

Strategic initiatives and operations

• Self-help initiatives remain a key focus for FY2026 to drive further profitability.

• Approximately 80% of revenue is generated in non-US markets, limiting direct exposure to US tariffs.

• Victoria's competitors are expected to face higher tariffs, potentially enhancing the Group's relative competitiveness.

• Refinancing discussions are well advanced and progressing positively.

Company profile and leadership

• Victoria PLC is an international designer, manufacturer, and distributor of flooring products, headquartered in Worcester, UK.

• Employs about 5,600 people across more than 30 sites in Europe, Turkey, Australia, and the US.

• Europe's largest carpet manufacturer and second largest in Australia; also the largest underlay manufacturer in both regions.

• Strategy focuses on increasing shareholder value through acquisitions and sustainable organic growth.