REG - Genuit Group PLC - Trading Statement

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RNS Number : 0818J  Genuit Group PLC  19 May 2025

19 May 2025

Genuit Group plc

Trading in line with expectations; full year outlook maintained

Genuit Group plc ('Genuit', the 'Company' or the 'Group'), the UK's largest
provider of sustainable water, climate and ventilation solutions for the built
environment, today issues an update on trading for the four months ended 30
April 2025 ahead of its Annual General Meeting ("AGM"), which takes place at
13:00hrs (BST) today at 4 Victoria Place, Holbeck, Leeds LS11 5AE.

 

Joe Vorih, Chief Executive Officer, commented:

"We maintain our outlook for the full year with the Group trading in line with
expectations during the first four months of the year and the UK market
showing some encouraging signs of recovery.

Each of our Business Units has delivered organic sales growth for the first
four months and we have secured some positive share gains in a competitive
market. We are also making strong progress on the continued deployment of the
Genuit Business System to drive productivity.

Whilst we recognise the broader macroeconomic backdrop remains uncertain,
Genuit is not directly exposed to changes in trade tariffs and is well
positioned to navigate this near-term environment. Over the medium-term, we
remain confident in out-performing the market due to our strong exposure to
sustainability-linked growth drivers."

 

Current Trading and Outlook

Group revenue for the four months ended 30 April 2025 was £199.3m (2024:
£183.7m), representing a year-on-year increase of 8.5% (5.3% on a
like-for-like basis) albeit against a low comparator.

 

Climate Management Solutions (c.31%* of Group revenue) - revenue was 9.0%
higher year-on-year (5.2% on a like-for-like basis), with continued strong
growth in residential ventilation and improving commercial sales at Nuaire.
Adey's water filtration business saw revenues that were broadly flat
year-on-year. Underfloor heating solution sales at Nu-Heat and Omnie were more
subdued in the context of continuing softness in the RMI market, but order
intake showed signs of improvement in April.

Water Management Solutions (c.28%* of Group revenue) - revenue was 9.6% higher
year-on-year (1.8% on a like-for-like basis), with demand for stormwater
attenuation solutions increasing in the context of drier Spring weather. The
Sky Garden blue-green roof business has seen strong order intake supporting
growth forecasts for the year. Good progress is being made implementing the
Genuit Business System which is forecast to positively impact margin in the
second half.

Sustainable Building Solutions (c.40%* of Group revenue) - revenue was 8.2%
higher year-on-year on a reported and like-for-like basis, including market
share gains following the exit of a competitor in the UK drainage market.
Whilst volumes are still historically low, new housebuilding is showing
positive signs of recovery. RMI and commercial markets remain more challenging
but the Business Unit is making strong progress with added value solutions and
demand related to modern methods of construction.

 

Whilst some dilution of Group margins is anticipated for the first half of the
year due to increases in National Insurance and the minimum wage, the Group is
focussed on mitigating this impact, through a combination of productivity
gains and balanced cost and price management.

 

The Group continues to focus on securing further market share gains through
organic growth initiatives and new product introduction. In parallel, strong
progress is being made on deploying the Genuit Business System to further
increase productivity. With a strong balance sheet, the Group also continues
to cultivate the acquisition pipeline, with a focus on strategic bolt-on
opportunities.

 

Notice of Interim Results

The Company will report its interim results for the six months ending 30 June
2025 on 12 August 2025.

* The remaining c.1% of Group revenue consists of Polypipe Italia, which is
not part of our strategic Business Units.

 

 

Enquiries:

Joe Vorih, Chief Executive Officer

Tim Pullen, Chief Financial Officer

+44 (0) 1138 315315

 

Headland Consultancy:

 Matt Denham      Telephone: 020 3805 4822

                  Email: genuit@headlandconsultancy.com
 Chloe Francklin

 

About Genuit Group plc

Genuit Group plc is the UK's largest provider of sustainable water, climate
and ventilation products for the built environment. Genuit's solutions allow
customers to mitigate and adapt to the effects of climate change and meet
evolving sustainability regulations and targets.

The Group is divided into three Business Units, each of which addresses
specific challenges in the built environment:

·      Climate Management Solutions - Addressing the drivers for low
carbon heating and cooling, and clean and healthy air ventilation.

·      Water Management Solutions - Driving climate adaptation and
resilience through integrated surface and drainage solutions.

·     Sustainable Building Solutions - Providing a range of construction
solutions to reduce the carbon content of the built environment.

Across these Business Units, Genuit's brands are some of the most
well-established and innovative in the industry, including Polypipe, Nuaire
and Adey.

The Group primarily serves the UK and European building and construction
markets with a presence in Italy and the Netherlands and sells to specific
niches in the rest of the world.

 

 

 

 

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