REG - Bunzl PLC - Trading Statement

BunzlAnnouncement

Today 07:00

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RNS Number : 8228L  Bunzl PLC  17 December 2025

17 December 2025

BUNZL PRE-CLOSE STATEMENT

2025 PROFIT IN-LINE WITH EXPECTATIONS

 

Bunzl plc, the specialist international distribution and services Group, is
updating the market today prior to entering its closed period for the year
ending 31 December 2025.

 

Despite the ongoing macro economic challenges in our key end markets, we
reiterate the 2025 adjusted operating profit guidance we first set out within
our Q1 trading update. Group revenue in 2025 is expected to grow between 2%
and 3%, at constant exchange rates, and to be broadly flat at actual exchange
rates. Group revenue growth at constant exchange rates is expected to be
driven by acquisitions, with broadly flat underlying revenue over the year.
Despite the tougher comparatives, we expect to see good momentum over the
final quarter, supported by the benefits of actions taken to improve our
performance, including new business wins in North America. Group adjusted
operating profit is expected to be in-line with expectations, with operating
margin around 7.6%. We expect to demonstrate a moderation of the Group's
year-on-year operating margin decline in the second half compared to the first
half of the year, driven by: the benefit of actions taken in North America and
Continental Europe to improve performance; easier comparatives in Continental
Europe; and Nisbets synergy benefits.

 

Looking ahead into 2026, uncertainties relating to the wider economic and
geopolitical landscape are expected to continue. The Group expects moderate
revenue growth in 2026, at constant exchange rates, driven by some underlying
revenue growth and a small benefit from announced acquisitions. Group
operating margin is expected to be slightly down year-on-year.

 

In October, Bunzl completed the acquisition of Damito s.r.o, a distributor of
cleaning & hygiene, personal protective equipment and packaging in
Slovakia. The acquisition establishes Bunzl's physical presence in Slovakia,
and the business generated revenue of EUR 14 million (c.£12 million) in 2024.
We have also completed our £200 million 2025 buyback and continue to expect
leverage to be just over, and towards, 2.0 times at the end of 2025.

 

Commenting on today's announcement, Frank van Zanten, Chief Executive Officer
of Bunzl, said:

 

"Despite what has remained a challenging market, we expect to meet our outlook
for 2025, which was set out in April this year. We continue to remain strongly
focused on performance across the Group and are encouraged by operational
improvements being made and new business wins in North America. We have
presented our view of 2026 which highlights our expectations for a return to
organic growth and ongoing cost actions to support a more stable profit
outlook.

 

We also welcome Damito to the Bunzl family, with the Slovakian business
expanding our offering to customers. After a lower level of acquisition spend
in 2025, reflective of timing and driven by macro economic uncertainty, and
with our pipeline remaining active, we look forward to an improved year for
acquisitions in 2026.

 

We remain confident in the Group's underlying resilience and strength, and
ability to deliver consistent compounding growth in the medium-term."

 

Conference call

There will be a live analyst and investor conference call and Q&A session
from 07:30am (GMT) today, hosted by Richard Howes (Chief Financial Officer). A
replay will be available later in the day.

·    Dial-in number: +44 20 3936 2999  /  Access code: 945151

 

 

 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   Tel: +44 (0)20 7353 4200

 Tel: +44 (0)20 7725 5000

 

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