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RNS Number : 0892E Bunzl PLC 21 October 2025
21 October 2025
BUNZL Q3 TRADING STATEMENT
IN-LINE WITH EXPECTATIONS; FY GUIDANCE UNCHANGED
Bunzl plc, the specialist international distribution and services Group, today
announces its trading statement for the period since 30 June 2025.
Group revenue in the quarter grew by 0.6% at constant exchange rates.
Underlying revenue(1), which is organic revenue adjusted for trading days,
increased by 0.4%, in line with our expectations, against what remain
challenging end markets in our key business areas. Net acquisitions(2)
contributed growth of 1.4% at constant exchange rates, while fewer trading
days in the period impacted revenue by 1.1%. Overall, at actual exchange
rates, Group revenue declined by 0.8%. In-line with expectations, the
year-on-year operating margin decline over the quarter moderated compared to
the first half of the year.
The Group's full year guidance remains unchanged. The Group continues to
expect moderate revenue growth in 2025, at constant exchange rates, driven by
announced acquisitions and broadly flat underlying revenue. Group operating
margin for the year is expected to be moderately below 8.0%, compared to 8.3%
in 2024, with a continued expectation for a moderation of year-on-year
operating margin decline in the second half, compared to the first half.
We have now completed c.£190 million of our announced £200 million 2025
buyback. The Group continues to expect leverage to be just over, and towards,
2.0 times at the end of 2025, after potential acquisition spend and the
completion of the buyback.
Commenting on today's announcement, Frank van Zanten, Chief Executive Officer
of Bunzl, said:
"In what remains a challenging market, we remain strongly focused on improving
performance across the business. As we enter the important final quarter, I am
pleased to see the actions that we have taken driving operational
improvements, as expected. We reiterate our Group outlook for 2025.
As highlighted in our recent investor seminar, we remain confident in the
significant opportunities we see for continued acquisition growth. We have
completed seven acquisitions year-to-date and our pipeline is active. I remain
confident in the Group's underlying resilience and strength, and ability to
deliver consistent compounding growth in the medium-term."
Enquiries:
Bunzl plc Teneo
Frank van Zanten, Chief Executive Officer Martin Robinson
Richard Howes, Chief Financial Officer Kate Somerville
Sunita Entwisle, Head of Investor Relations and Communications Tel: +44 (0)20 7353 4200
Tel: +44 (0)20 7725 5000
1. Growth in hyperinflationary economies was not in excess of 26% per
annum.
2. Acquisition growth of 1.8%, net of a 0.4% reduction related to
disposals.
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