REG - Hilton Food Grp Plc - AGM Trading Update

Hilton FoodAnnouncement

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RNS Number : 8025E  Hilton Food Group PLC  19 May 2026

19 May 2026

HILTON FOOD GROUP PLC

AGM TRADING STATEMENT

FULL YEAR OUTLOOK UNCHANGED

Ahead of its Annual General Meeting at 9am BST today, Hilton Food Group plc
('Hilton Foods' or 'the Group'), the international red meat partner of choice,
provides a trading update for the period from 29 December 2025 to date.

Trading performance

Trading performance in our core meat and fresh prepared food businesses has
been good. The East region continues to benefit from positive momentum in
Australia and New Zealand, and further growth in fresh prepared foods in
Central Europe. The West region has delivered slightly higher volumes overall
compared with the same period last year, with strong trading in the run up to
Easter.

As expected, conditions remain challenging for our seafood, vegetarian and
vegan businesses. However, we are making progress in improving performance to
increase strategic optionality. Cost reduction plans are being implemented in
Seachill against a backdrop of continuing volume challenges. Foppen is now
exporting to the United States by sea rather than air, while we await feedback
from the FDA following our submission to remove restrictions on exports from
our facility in Greece. We continue to look for opportunities to increase
volume and utilise spare capacity at our Dalco facility.

Commercial and project progress

We have recently extended our commercial partnership with Tesco in the UK. On
our capital projects, Canada remains on track for full launch in 2027, with
bacon now planned to be added to the scope. We continue to expect our facility
in Saudi Arabia to commence operations in H2 2026. We are also finalising
plans to increase capacity in Poland to drive future growth in fresh prepared
foods.

2026 Outlook

We remain on track to achieve 2026 adjusted profit before tax in the range
£60m-£65m. As previously indicated, we expect capital expenditure to be
around £100m and net debt to increase over the year as a result.

Although we remain cautious on the broader inflationary environment and
mindful of the potential impacts of the situation in the Middle East, our
performance so far in this year underpins our confidence in both the short-
and longer-term prospects for the Group.

The Group plans to announce its interim results for the 26 weeks ending 28
June 2026 on Thursday 3 September 2026.

ENDS

For further information please contact:

Hilton Food Group plc                     Tel: +44 (0)
1480 387214

Mark Allen, Executive Chair               Email:
investorrelations@hiltonfoodgroup.com

Matt Osborne, Chief Financial Officer

Martyn Espley, Investor Relations Director

Headland Consultancy                     Tel: +44 (0) 20
3805 4822

Ed
Young
Email: hiltonfood@headlandconsultancy.com
(mailto:hiltonfood@headlandconsultancy.com)

Will Smith

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