REG - Ibstock PLC - AGM Trading Update

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RNS Number : 1604F  Ibstock PLC  21 May 2026

21 May
2026
LEI: 2138003QHTNX34CN9V93

 

Ibstock Plc

AGM Trading Update

Ibstock Plc ("Ibstock" or the "Group"), a leading UK manufacturer of building
products and solutions, announces a trading update for the period from 1
January 2026 to 30 April 2026, ahead of its Annual General Meeting (AGM),
which is to be held at 12:00pm today.

 

Joe Hudson, Chief Executive Officer, commented:

"Following challenging market conditions in the early months of 2026,
including a very wet start to the year, we have seen a promising improvement
in sales volumes in our clay business, with the Group successfully maintaining
market share.

"Whilst we are mindful of the potential impact of the Middle East conflict,
the Board believes recent activity levels support the Group's capability to
deliver a full year outturn broadly in line with current market consensus
expectations. Further, with a well invested, lower-cost, more efficient and
sustainable manufacturing network, Ibstock is well positioned to deliver
growth in the medium term."

Trading update

 

The UK residential construction market continued to experience challenging
conditions in the early part of the year, with domestic brick market volumes
down 11% in the first quarter and relatively weak volumes for our concrete
products linked to the private residential and RMI markets.

 

Following a weather impacted January and February, we have seen sequential
improvement including a high single-digit year-on-year increase in brick
volumes in April, and a continuation of positive trading in May. Against this
backdrop, the Group maintained brick market share in Q1 in line with 2025.
Despite a slower start in Concrete, given the spending cycle for certain
infrastructure projects, we are confident that we will see an improvement in
this business in the coming months. Overall, Group revenues were down
approximately 10% for the first 4 months of the year on a like for like basis,
with annual price increases implemented at the beginning of February.

 

As the duration and full extent of impacts arising from the Middle East
conflict remain uncertain, we are mindful of the potential effects on consumer
confidence and the wider UK economy. This challenging backdrop is likely to
continue in the near term, albeit we continue to see the potential for some
improvement in H2. Higher energy and fuel prices have resulted in increased
cost inflation which is likely to extend into the second half of 2026. We have
taken steps to mitigate this where possible, and are hedged for over 85% of
energy requirements for the first three quarters of 2026, with around 80%
cover for the full year.

 

The Group remains acutely focused on managing production volumes, inventory
levels and overheads, along with identifying further operational efficiencies.
Focused and disciplined capital management has enabled us to progress
strategic projects alongside maintaining the Group's financial position. As
indicated in March, we are working with a preferred partner towards a
commercial agreement for calcined clay and the Nostell Horizon factory is
commissioning as planned, with orderbooks beginning to build.

 

Whilst mindful of uncertainty, the Board believes recent activity levels
support the Group's capability to deliver a full year outturn broadly in line
with current market consensus expectations. While, the pace and timing of the
recovery remain uncertain, Ibstock is well positioned to respond quickly to
improving market conditions.

 

 Ibstock Plc                 01530 261 999
 Joe Hudson, CEO
 Simon Bedford, Interim CFO

 Citigate Dewe Rogerson      020 7638 9571
 Jos Bieneman

 

About Ibstock Plc

Ibstock Plc is a leading UK manufacturer of building products and solutions,
backed by design and technical services that comprises two core divisions:

 

Ibstock Clay: The leading manufacturer by volume of clay bricks sold in the
UK, with 15 manufacturing sites served by 15 active quarries. Ibstock
Kevington provides masonry and prefabricated component building solutions,
operating from four sites.

 

Ibstock Concrete: A leading manufacturer of concrete walling, flooring and
fencing products, along with lintels and rail & infrastructure products.
The concrete division operates from 11 manufacturing sites across the UK.

 

Both divisions are complemented by Ibstock Futures, which was established in
2021 to accelerate growth in new segments of the UK construction market and
focuses on even more sustainable solutions and Modern Methods of Construction
(MMC) from two main locations.

 

The Group's ESG 2030 Strategy sets out a clear path to address climate change,
improve lives and manufacture materials for life, with an ambitious commitment
to reduce carbon emissions by 40% by 2030 and become a net zero operation by
2040.

 

Further information can be found at www.ibstock.co.uk
(https://www.ibstock.co.uk/)

Forward-looking statements

 

This announcement contains "forward-looking statements". These forward-looking
statements

include all matters that are not historical facts and include statements
regarding the intentions, beliefs or current expectations of the directors. By
their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances that are difficult to predict
and outside of the Group's ability to control. Forward-looking statements are
not guarantees of future performance and the actual results of the Group's
operations. Forward-looking statements speak only as of the date of such
statements and, except as required by applicable law, the Group undertakes no
obligation to update or revise publicly any forward-looking statements.

 

 

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