Volution Group (FAN) Trading Update summary

Trading performance and revenue growth

• Organic revenue growth at constant currency reached approximately 5% for the first four months of FY26.

• All three regions reported organic growth despite a generally challenging market environment.

• Total revenue growth exceeded 30%, driven by 25% inorganic growth from the Fantech acquisition and a small foreign exchange benefit.

• Operating margins remained strong, with organic adjusted operating margins consistent with the prior year.

• Expectations are set for continued growth in revenue, operating profit, and cash generation for the year.

Acquisition activity

• Agreement signed to acquire AC Industries in Sydney, Australia, for an initial AUD $150 million (approx. £75 million), plus up to AUD $28.9 million (approx. £14.5 million) in contingent consideration.

• Acquisition is expected to complete in February 2026 and will be immediately earnings accretive.

Operational focus and outlook

• Continued emphasis on operational excellence and product cost improvements through engineering and procurement initiatives.

• The business remains focused on delivering strong operating margin performance.