The Stelrad Group Plc Board has declared an interim dividend of 3.04 pence per share, an increase of 2%. The interim dividend will be paid on 24 October 2025 to shareholders on the register on 10 October 2025.
Other financial highlights include:
Adjusted operating profit rose to £15.9 million, an increase of 1.1%, benefitting from ongoing margin management and structural currency gains. Adjusted operating profit margin increased 0.7 ppts to 11.7%.
Non-cash exceptional items of £12.0 million (2024: £nil) relating to impairment charge on the assets of Radiators SpA.
Operating profit on a statutory basis was £3.8 million (2024: £15.6 million), after the £12.0 million non-cash exceptional items.
Revenue declined 4.6% to £136.5 million, despite continued pricing discipline, as a result of ongoing volume challenges from subdued demand in RMI and new build markets.
o UK & Ireland: revenue declined 5.8% supported in part by favourable increase in average radiator size, partially offsetting a 9.6% volume reduction.
o Europe: revenue declined 5.9% as a result of reduced volumes.
o Turkey & International: revenue increased 17.9%, to £8.5 million, due to increased volumes in the Turkish market.
Positive free cash flow of £1.8m (2024: £1.3m), despite typical seasonal high point and selective investments in working capital to enhance service levels in the UK market.
Return on capital employed increased by 0.5 ppts to 26.9% (2024: 26.4%).
Leverage at 30 June 2025 was 1.48x (December 2024: 1.37x), based on net debt before lease liabilities.
